Canada
Canadians are among the largest groups of foreign buyers in Florida, coming south each winter for sun, snowbird stays, and second homes.
Canadians are consistently one of the largest foreign buyer groups in Florida, and Miami is a natural landing spot for those escaping the winter. Nonstop flights from Toronto, Montreal, and other cities keep a second home easy to reach for a long season, and the purchase runs in English. Many buyers use the property in winter and rent it the rest of the year.
Why Miami for buyers from Canada
For Canadians, Miami is close, warm, and familiar: direct flights, a common language, and an easy winter routine make settling in simple. Winter is exactly when the home is most useful, and rental demand covers the months you are back north. Contracts and disclosures are handled in English, so the process feels straightforward.
Paying and moving money
Most Canadian buyers fund from Canadian dollars, so the CAD to US dollar rate and transfer timing have a real effect on your cost; a currency specialist often beats a retail bank on both spread and speed. Funds are wired into an escrow or title account, and US banks and title agents require source of funds documentation under anti money laundering rules. Many Canadians open a US bank account, and even a cross border banking relationship, to simplify deposits, closing, and ongoing bills.
Taxes, title, and cross-border planning
When a foreign owner sells, FIRPTA requires the buyer to withhold a portion of the gross price toward US tax, with the actual liability usually lower and refundable after filing. Whether you hold in your own name or a US LLC affects liability, privacy, and estate exposure, and it interacts with Canadian rules on foreign corporations, so get advice first. The United States and Canada have a tax treaty, and a cross-border advisor should coordinate your US and Canadian filings, including any US estate exposure, to avoid double taxation.
Common questions
How long can I stay in Florida each winter as a Canadian?
Most Canadians visit under the standard visitor rules, commonly up to about six months in a twelve month period, but days spent in the US also affect your US tax residency under the substantial presence test. Track your days and check current limits before each season.
Do I owe US tax if I rent my Miami home out in summer?
Yes, US rental income is reported on a US return, and an election to treat it as effectively connected income lets you deduct expenses rather than face flat withholding on gross rent. Your Canadian return also reports it, coordinated through the treaty.
Can I get a mortgage as a Canadian, or should I pay cash?
Both are common; several lenders offer Canadian buyers cross border mortgages, typically with a larger down payment, and some Canadian banks have US divisions. Paying cash from converted funds is also frequent.
What happens to my Florida property for US estate tax if I pass away?
US situated assets can face US estate tax for non residents above a low threshold, but the Canada US treaty provides relief that a cross-border advisor can plan around, sometimes influencing how you hold title.
General information, not tax or legal advice.
How buying works, step by step
From getting set up to the keys, here is the path we run with you.
1. Get set up
If you will finance or need to file, we start your ITIN (US tax ID) and a foreign-national pre-approval, or gather proof of funds for a cash purchase. Doing this first means nothing stalls later.
2. Search and tour remotely
We shortlist homes to your brief and tour them for you by live video, so you can shop from your country without flying in.
3. Offer and contract
We negotiate and write the offer. A signed contract and a deposit into an escrow account start the timeline and protect your funds.
4. Inspection and title
Inspections, a title search, and a review of the condo or HOA documents run in parallel, so any surprise surfaces early while you can still act on it.
5. Funds and closing
You wire the funds and sign, either in person or remotely with a limited power of attorney and Florida's online notarization. Title transfers and the home is yours.
6. After closing
We hand off to property management, insurance, and tax filing as needed, so the home runs smoothly and stays compliant while you are away.
The essentials for buying from abroad
The parts that worry overseas buyers most, handled with a clear plan.
FIRPTA and taxes
FIRPTA withholds part of the sale price when a foreign owner sells, not when you buy. It is planned for, not feared, and is often partly refunded when you file.
ITIN (US tax ID)
Buyers who finance or need to file usually need an ITIN. It can take several weeks, so we start it early to avoid delays at closing.
Foreign-national financing
You can finance without US residency or credit through foreign-national loan programs, typically with a larger down payment and income documented from your country.
Remote closing
Florida allows remote online notarization and a limited power of attorney, so you can complete a purchase from your home country without flying in.
Moving funds
Wiring funds across borders and documenting their source takes planning, so we start early. We never send wiring details by email alone, and neither should you.
Holding title
How you hold the property, in your name, an LLC, or another structure, affects taxes and estate exposure. We help you decide with a cross-border advisor before you buy.
Costs to plan for
The taxes and fees to budget, so there are no surprises at closing. Figures are general Florida guidance, not a quote.
Closing costs
Budget roughly 3% to 5% of the price for a cash purchase, a little more if you finance. We give you a line-by-line estimate before you commit.
Documentary stamp tax
Florida charges about $0.70 per $100 of the price, roughly 0.7%, collected at closing. The title company handles the Miami-Dade specifics.
Title insurance and search
A one-time title insurance policy, roughly 0.5% to 0.6% of the price, plus a title search, protect your ownership against hidden claims.
If you finance
Foreign-national loans usually ask for about 20% to 40% down, most often around 30%, plus lender fees and a small intangible tax on the mortgage, about 0.2% of the loan.
Ongoing: taxes and insurance
Plan for roughly 1% to 2% of value a year in property tax. The homestead exemption is for primary residents, so a second home or investment does not get it. Add homeowner and, near the coast, wind and flood insurance.
HOA and condo fees
Condos and gated communities carry monthly association fees, and Florida condos can have reserve assessments. We review the association's finances before you buy.
FIRPTA at resale
When a foreign owner later sells, 15% of the sale price is withheld under FIRPTA and reconciled when you file, so it is planned for, not a surprise.
More questions, answered
Can a foreigner buy property in Miami?
Yes. There is no residency or citizenship requirement. You can pay cash or use foreign-national financing, and you can complete the purchase remotely.
Does buying property give me a visa or residency?
No. Owning property does not by itself grant any visa or immigration status. We are clear about that from the start so your expectations are right.
Do I have to be in the US to close?
No. With a limited power of attorney and Florida's remote online notarization, many buyers close from their home country and travel only if they want to.
Can I get a mortgage without US credit?
Yes. Foreign-national loan programs do not need US residency or a US credit score. They usually ask for about 20% to 40% down, most often around 30%, with income and assets documented from your country.
How much are closing costs?
Plan for roughly 3% to 5% of the price for a cash purchase, and a little more if you finance. The main items are the documentary stamp tax, title insurance, and a title search, and we itemize them before you commit.
What is FIRPTA?
FIRPTA withholds 15% of the sale price when a foreign owner sells, not when you buy. It is planned for and often partly refunded when you file your US return.
What is an ITIN and do I need one?
An ITIN is a US tax ID for people without a Social Security number. Buyers who finance, earn rental income, or need to file usually need one, and it can take several weeks, so we start it early.
What are the ongoing costs of owning?
Roughly 1% to 2% of value a year in property tax (a second home does not get the homestead exemption), homeowner and coastal insurance, and, for a condo or gated community, monthly association fees. We map these before you buy.
How do I move funds to the US?
You wire the funds to the closing escrow account, and we plan it early and document the source of funds, which title companies and lenders expect. We never send wiring details by email alone, and neither should you.
Should I hold title in my name or an LLC?
It depends on taxes, estate exposure, and liability, so there is no single answer. We bring in a cross-border attorney and accountant to choose the structure that fits your plans before closing.
What about US estate tax as a foreign owner?
Non-residents have a low estate-tax exemption on US assets, so how you hold the property matters for your heirs. We plan this with a cross-border advisor rather than leaving it to chance.
Do I pay tax on rental income?
Yes. US rental income is taxable and there is a withholding and filing process for foreign owners. An accountant sets it up so you keep more of the income and stay compliant.
Can I rent the property out?
Usually yes, but condo and HOA rules and local short-term-rental limits vary by building and city. We check the rules for a specific property before you rely on rental income.
How long does the whole purchase take?
A cash purchase often closes in about three to five weeks once you are in contract. Financing takes longer, and getting an ITIN or moving funds can add time, so we plan the timeline up front.
General information, not tax or legal advice.
Homes you could buy in Miami
A sample of what we are representing right now. Ask us for the full, current list.
18975 Collins Ave #555
851 NE 1st Ave #2301
17324 SW 41st St
4506 SW 174th Ave
13247 SW 144th Ter
15835 NW 91st Ct
Photos are representative and may not show the actual property.
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