Buying a Home in Miami as a Foreign National

Yes, a foreign national can buy a home in Miami, with cash or with a foreign national loan, and most international buyers face no special ownership limits. The rules that do matter are Florida's 2023 law on buyers tied to seven "countries of concern" (SB 264), the federal FIRPTA withholding when you sell, and wire fraud, which targets cross-border buyers more than anyone. Here is how each one works as of November 2026.

Who counts as a foreign national buyer

The answer depends on who is asking.

• For lending: a "foreign national" usually lives abroad and has no U.S. credit history or Social Security number. Buyers who live and work here with an ITIN instead of an SSN use ITIN loans. Green card holders can usually get standard loans.
• For taxes: FIRPTA applies to "foreign persons," which for individuals means nonresident aliens. A green card holder, or someone who meets the IRS substantial presence test, is generally treated as a U.S. person for tax purposes.
• For Florida's SB 264: what matters is where you are domiciled (your permanent home), not your passport or where you were born.

Financing: cash, foreign national and ITIN loans

Financing is available. These loans are "non-QM" (outside Fannie Mae and Freddie Mac rules), so terms vary a lot from lender to lender. For context, Freddie Mac's average 30-year fixed rate was 7.24% on October 29, 2026, and foreign national loans usually price above that average.

Condos deserve extra care. Many Miami buildings are "non-warrantable" for lenders because of reserves, pending litigation or insurance, and newer state rules on structural reserves can bring big assessments. Read our Miami condo guide before you fall in love with a view. If you are buying to rent, see our DSCR loan guide.

Buying in your own name, an LLC or a trust

You can buy in your own name or through a Florida LLC registered on Sunbiz, the state's business registry. An LLC must file an annual report between January 1 and May 1 every year to stay active. Things to weigh with a U.S. tax advisor before you choose:

• U.S. estate tax: nonresidents who own U.S. real estate directly can face estate tax with an exemption as low as $60,000, compared with millions for U.S. citizens. Ownership structure can change that outcome.
• Financing: many investor and DSCR lenders will close in an LLC's name; some foreign national programs will not.
• Homestead: the homestead exemption requires Florida permanent residence, and an LLC cannot claim it. Second homes and rentals pay full non-homestead taxes, with assessment increases capped at 10% a year. Amendment 3, on the November 3, 2026 ballot, would lower that cap to 5% for non-school taxes starting in 2027 if 60% of voters approve it; results were still being counted as this guide was published.
• Federal reporting: a FinCEN rule that would have required reports on all-cash purchases by LLCs and trusts was vacated nationwide by a federal court in Texas on March 19, 2026. The government could still appeal, so ask your title company what applies at your closing.

Florida's SB 264: who is restricted

Since July 1, 2023, Chapter 692 of the Florida Statutes limits purchases by "foreign principals" from China, Russia, Iran, North Korea, Cuba, Syria and the Venezuelan regime of Nicolás Maduro. A foreign principal includes those governments and their officials, political parties, companies organized or based in those countries, and people domiciled there who are not U.S. citizens or lawful permanent residents.

• Foreign principals may not buy agricultural land, or land within 10 miles of a military installation or a critical infrastructure facility, such as a power plant, water treatment plant, seaport or airport. In South Florida that covers a lot of ground, including the area around Homestead Air Reserve Base.
• A narrow exception lets a natural person buy one residential property of up to 2 acres if it is not within 5 miles of a military installation, the buyer holds a current U.S. visa that is not limited to tourist travel (or has been granted asylum), and the purchase is in that person's name.
• People and companies domiciled in China face stricter, statewide limits, and a violation can be a felony.
• Every buyer of Florida real estate, foreign or not, signs an affidavit at closing on a form adopted by the Florida Real Estate Commission, stating they are not a prohibited buyer.

The law has been challenged in court. On November 4, 2025, the Eleventh Circuit ruled 2-1 in Shen v. Simpson that the challengers lacked standing to attack the purchase restrictions, so those restrictions remain in effect while narrower claims continue. A 2026 law added separate rules for critical infrastructure facilities themselves; it did not change the basic home-buying rules above. Because the test is domicile, a Cuban-born buyer whose permanent home is in Florida is generally not a foreign principal, but anyone unsure should ask the closing attorney before signing a contract.

FIRPTA: plan for the day you sell

When a foreign person sells U.S. real estate, the buyer must withhold part of the price and send it to the IRS.

The withholding is sent with Forms 8288 and 8288-A within 20 days of closing. It is a prepayment, not the final tax: you file a U.S. return and get back anything withheld above what you owe. You can also apply for a withholding certificate on Form 8288-B to reduce the amount; the IRS normally acts within 90 days. On a $600,000 sale to an investor, $90,000 would be withheld, so keep every receipt for improvements. Our capital gains guide explains cost basis.

Wiring money safely

The FBI's Internet Crime Complaint Center received 12,368 real estate fraud complaints in 2025, with $275.1 million in losses. Follow this checklist:

1. Get wiring instructions only from the title company or closing attorney, through their secure portal or in person.
2. Before every wire, call the title company at a phone number you found yourself, not one in an email, and confirm the account.
3. Treat any "updated" or "urgent" change to wiring instructions as fraud until proven otherwise.
4. Start international transfers several business days early, and check your bank's daily limits and currency rules.
5. Keep statements showing where the money came from; lenders and title companies will ask.
6. If something goes wrong, call your bank right away and file a report at ic3.gov.

How we can help

We work with international and Hispanic buyers across Miami-Dade, Broward and the Keys, in English and Spanish, and we can coordinate showings by video and closings with remote signing when you are abroad. Aldrick Gonzalez, Realtor®, connects you with lenders who actually close foreign national loans, title companies used to SB 264 affidavits and FIRPTA, and U.S. tax advisors. Call (786) 545-9222 or contact us for a free consult.

Frequently asked questions