Dominican Republic
Very close to Miami, with strong ties and growing buyer interest.
The Dominican Republic sits a short flight from Miami, and the two share deep family, business, and cultural ties that make South Florida a familiar destination. Dominican buyers increasingly look to Miami for second homes, rental property, and a dollar-based place to hold value.
Why Miami for buyers from Dominican Republic
Proximity is the headline for Dominican buyers, Miami is one of the closest major US markets, which makes weekend visits and hands-on management realistic. Strong community and business connections, frequent direct flights, and a Spanish-speaking environment lower the friction of buying abroad. Many buyers target condos they can use part of the year and rent the rest, earning income in dollars.
Paying and moving money
The Dominican peso is the local currency, so a Miami purchase means converting pesos to dollars, and timing the exchange can affect your final cost. Most buyers move funds by international wire through a Dominican bank, with source-of-funds documentation to meet compliance rules in both countries. Because rates shift, coordinate with your bank on timing and allow a few extra days for the first transfer to clear.
Taxes, title, and cross-border planning
When you later sell, FIRPTA has the buyer withhold a share of the price from a foreign seller, which you reconcile on a US tax return, so factor it into your resale plan. Choosing to hold title in your own name or through a US LLC changes your liability, privacy, and estate picture, a call to make before closing. A cross-border advisor who understands Dominican and US taxation helps you file correctly and avoid being taxed twice.
Common questions
How long is the flight from the Dominican Republic to Miami?
It is a short trip, roughly two to two and a half hours nonstop from Santo Domingo or Santiago, which makes frequent visits practical.
Can I buy in Miami as a Dominican citizen without a green card?
Yes, there is no residency or citizenship requirement to own Florida real estate, and many Dominican owners buy as foreign nationals.
Will owning property in Miami help me get a US visa?
Owning real estate does not grant a visa or residency by itself, though it can be part of a broader plan you discuss with an immigration attorney.
Can I collect rent in dollars and keep it in a US account?
Yes, many Dominican owners open a US bank account to receive rent and pay expenses in dollars, which simplifies managing the property from abroad.
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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