Foreign Buyer's Guide to Miami Beach Real Estate (2026)

Miami Beach is the single most in-demand US market for international real estate buyers, and Latin American investors lead it. International buyers purchased $56 billion of US homes between April 2024 and March 2025, and Florida captured the largest share of any state. In South Florida new construction, roughly 86% of international buyers were Latin American — led by Argentina, Colombia, Mexico and Brazil. If you are buying from abroad, you are not the exception here; you are the market.

This guide walks through what actually happens when a non-resident foreigner buys a luxury condo in Miami Beach in 2026: eligibility, the step-by-step process, FIRPTA and taxes, how to hold title, closing costs, moving money across borders, and owning from another country.

This guide is general information, not legal or tax advice. FIRPTA, US estate tax and ownership-structure decisions depend on your country of residence and any applicable tax treaty. Engage a US CPA with international experience and a Florida real estate attorney before you sign a purchase contract.

On this page

• Can a foreign national buy property in Miami Beach?
• The buying process, step by step
• FIRPTA and taxes — what you actually pay
• How to hold title: personal name, LLC, or trust
• Closing costs in Miami-Dade
• Moving money across borders and compliance
• The Miami Beach market for international buyers
• Owning from abroad: management and rentals
• Does buying property give me a visa?
• Work with a brokerage that does this every day

Can a foreign national buy property in Miami Beach?

Yes. There is no citizenship, Green Card, visa or US residency requirement to own real estate in Florida, and no federal law restricting foreign ownership of a Miami Beach condo. You can complete the entire purchase remotely.

You do not need a US Social Security Number or an Individual Taxpayer Identification Number (ITIN) to close a purchase. You will, however, want an ITIN for what comes after — reporting rental income, and applying for reduced tax withholding when you eventually sell. In practice, starting the ITIN process early is the smart move; your tax advisor and title company can coordinate it.

The buying process, step by step

Cash or a foreign-national mortgage

Most international luxury purchases in Miami Beach close in cash, which removes the lender from the timeline. Financing is still available through specialized "foreign-national" mortgage programs that do not require US credit history, a Social Security Number or US tax returns. As an indication of market terms in early 2026, these programs typically lend at 60–75% loan-to-value with interest rates materially above standard domestic mortgages; exact terms are set by individual lenders and should be quoted for your situation rather than assumed.

Typical timeline

• All-cash: roughly 15–25 days from signed contract to recorded deed, allowing for international wire timing.
• Financed: roughly 35–60 days, driven by the lender's underwriting.

The role of the title company

Florida closings run through a title company, not mandatorily through an attorney (though foreign buyers often retain one for cross-border complexity). The title company holds escrow, runs the title search, issues title insurance, prepares closing documents, manages FIRPTA compliance, records the deed with Miami-Dade County and disburses funds. South Florida title companies handle international wires and FIRPTA every day.

FIRPTA and taxes — what you actually pay

FIRPTA withholding

FIRPTA (the Foreign Investment in Real Property Tax Act) is a withholding mechanism, not an extra tax. It matters most when you sell: the buyer must withhold a percentage of the gross sale price and remit it to the IRS, and the foreign seller reconciles actual tax owed on a US return — often receiving a refund if too much was withheld.

Per the IRS, the general withholding rate is 15% of the amount realized. A personal-residence sale of $300,000 or less is exempt from withholding, and a reduced rate may apply to personal-residence transactions between $300,001 and $1,000,000 — confirm the exact treatment for your case with a CPA. For luxury Miami Beach purchases above $1M, plan around the 15% rate. A seller who expects their actual tax to be lower than the withholding can apply for a withholding certificate (IRS Form 8288-B) before closing.

Florida property tax — and the homestead myth

Florida has no state personal income tax — it is constitutionally prohibited. That is a genuine structural advantage and one reason the state attracts international capital.

Property tax is local (Miami-Dade County plus the city and school board). Be clear on one point: the Florida homestead exemption and the Save Our Homes assessment cap do not apply to a non-resident foreign owner — those require Florida permanent residency and the property as your primary home. What does apply automatically is the non-homestead 10% assessment cap, which limits how fast assessed value can rise each year and resets when the property changes hands.

US estate tax: the structural risk most buyers miss

This is the single most overlooked exposure for a foreign individual. For a non-resident alien, US-situs assets — and US real estate is unambiguously US-situs — are subject to US estate tax with a filing threshold of just $60,000, per the IRS, versus a multi-million-dollar exemption for US persons. On a multi-million-dollar condo held in a personal name, that is a serious liability. It is the main reason ownership structure deserves real planning, not an afterthought.

How to hold title: personal name, LLC, or trust

Three structures are common. None is universally "best" — the right answer depends on your country of residence, applicable tax treaties, portfolio size and exit plan.

• Personal name: simplest and cheapest, but fully exposes you to the $60,000 non-resident estate-tax threshold and offers no liability buffer or privacy.
• US LLC (single-member): adds liability protection and some privacy. It does not remove FIRPTA (a single-member LLC owned by a foreign person is disregarded for US tax), and its estate-tax effect is treaty-dependent — it needs competent US counsel to evaluate.
• Foreign corporation or trust: can address estate-tax exposure for larger holdings, at higher setup and annual compliance cost. Generally for sizeable portfolios.

Decide this before you sign — restructuring after closing can trigger tax and cost. This is overview only; a US international-tax CPA and a Florida attorney should design it for you.

Closing costs in Miami-Dade

Miami-Dade has one quirk worth knowing: unlike most of Florida, the buyer customarily selects and pays for the owner's title insurance policy. On a resale, the seller customarily pays the documentary stamp tax on the deed (1.05% in Miami-Dade); on new construction, the buyer typically absorbs it — a meaningful difference on a pre-construction purchase. Buyers also pay recording fees, title search, and (if financing) stamp tax on the mortgage. Everything is negotiable in the contract; these are customs, not laws.

Moving money across borders and compliance

The wire and source-of-funds

Purchase funds are wired from your home-country bank to the title company's escrow account. Wires from Latin American banks to South Florida title companies are routine; plan 3–5 business days. Expect standard know-your-customer and source-of-funds documentation — bank statements, home-country tax returns, proof of asset origin. Having this organized in advance is the difference between a clean closing and a delayed one, especially on large transactions.

FinCEN reporting status (2026)

One moving piece to watch: a federal FinCEN rule expanding beneficial-ownership reporting for all-cash residential purchases by entities took effect 1 March 2026 and was then vacated nationwide by a federal court on 19 March 2026; FinCEN is appealing and the legal status is unsettled as of this writing. Regardless of the rule's final status, title companies' source-of-funds diligence has not relaxed — if you buy through an entity, be ready to disclose beneficial ownership to the closing agent. Check the current status with your closing team.

The Miami Beach market for international buyers

South Florida's foreign-buyer share of sales runs several times the US national average, and Latin American buyers dominate the new-construction segment. Where you buy shapes both lifestyle and value:

• South of Fifth: Miami Beach's established ultra-luxury enclave — scarce inventory, the highest price per square foot, trophy buildings.
• Mid-Beach: the Faena District and classic oceanfront; strong international demand, branded residences.
• North Beach (NoBe): the value play. A master-planned revitalization and a deep 2025–2029 new-construction pipeline, with average listing prices well below South Beach and Mid-Beach.

Choosing the right submarket and building is exactly where a specialist brokerage earns its place. Browse current listings to calibrate on real inventory.

Owning from abroad: management and rentals

Short-term vs long-term rental

If you will not live in the property, arrange local property management from day one — tenant screening, rent collection, maintenance, compliance. Long-term rental (12+ months) is the most straightforward path for an absentee foreign owner. Short-term rental is heavily restricted in the City of Miami Beach and permitted only in specific zones and buildings; building and city rules both apply, and most Miami Beach condos are not short-term-rental eligible. Always confirm the short-term-rental rules at the building and zone level before you buy. Foreign owners with US rental income must file a US return; coordinate with a CPA.

Does buying property give me a visa?

No. Buying US real estate confers no immigration status of any kind. You may visit to inspect or close under a visitor visa, but ownership does not change your status. The EB-5 investor program is a separate path requiring an investment of at least $800,000 into a job-creating commercial enterprise — not a residential condo purchase — and is outside the scope of a standard property transaction. Speak to an immigration attorney if that is a goal.

Work with a brokerage that does this every day

Buying in Miami Beach from abroad is well-trodden ground — but the details (FIRPTA, structure, the homestead myth, building-level rental rules, post-Surfside condo reserves) are where deals get expensive if handled casually. ReAgent Realty specializes in international and Latin American buyers across Miami Beach and its neighborhoods — South of Fifth, Mid-Beach and North Beach.

Talk to our team about your goals, or explore available luxury listings to start.

Reminder: this article is general information, not legal, tax or immigration advice. Verify FIRPTA, estate-tax and structuring decisions with a licensed US CPA and a Florida attorney before contract.