Florida is the top U.S. destination for international real estate buyers, drawing purchasers from Canada, Latin America, Europe, and beyond. The good news for nearly all of them: buying is straightforward. The United States places no general restriction on foreign ownership of real estate, and Florida welcomes nonresident buyers. The issues worth planning for are not whether you can buy, but how you finance, title, and eventually sell or pass on the property — and one targeted state law that affects a small number of buyers.
Yes — Foreign Nationals Can Own Florida Real Estate
There is no U.S. citizenship or residency requirement to purchase most real estate in Florida. A foreign national can buy a home, condominium, or investment property in their own name or through a company or trust, whether or not they have ever set foot in the United States. Owning property is not the same as immigration status: buying a home gives you no visa, no green card, and no right to live in the U.S. — and conversely, you need no immigration status to buy.
How Foreign Buyers Actually Purchase in Florida
- Cash or foreign-national financing. Many foreign buyers pay cash; others use "foreign national mortgage" programs from U.S. lenders, which typically require larger down payments (often 30–40%) and additional documentation.
- A U.S. tax ID (ITIN). You don't need one to close, but you will need an ITIN for tax reporting — and especially when you later sell (FIRPTA) or rent the property. It's wise to obtain it early.
- Choosing how to hold title. In your own name, an LLC, a corporation, or a trust — a decision that drives liability, privacy, FIRPTA withholding on a future sale, and U.S. estate tax. This should be decided before closing, not after.
- Beneficial-ownership reporting. Cash purchases through entities can trigger federal reporting (FinCEN), and title companies in certain areas collect beneficial-owner information. We handle this as part of the closing.
The Exception: Florida's SB 264 Foreign-Ownership Law
Effective July 1, 2023, Florida enacted SB 264, codified at Fla. Stat. §§ 692.201–692.205. It restricts certain "foreign principals" connected to seven designated "foreign countries of concern" from acquiring specific categories of Florida real property. The seven countries are:
- China · Russia · Iran · North Korea · Cuba · Venezuela · Syria
A "foreign principal" generally includes the governments of those countries, political parties and officials, entities organized there or with their principal place of business there, and — importantly — natural persons who are domiciled in those countries and are not U.S. citizens or lawful permanent residents.
What the law restricts
| Category | Restriction | Statute |
|---|---|---|
| Agricultural land | Foreign principals from all seven countries generally cannot acquire it | Fla. Stat. § 692.203 |
| Property within 10 miles of a military installation or critical infrastructure | Foreign principals from all seven countries generally cannot acquire it | Fla. Stat. § 692.204 |
| Any real property in Florida (broadest tier) | Persons domiciled in China, and the Chinese government/parties, are restricted — with a narrow residential exception | Fla. Stat. § 692.202 / § 692.204 |
The narrow residential exception
For the broadest (China) tier, the statute allows a natural person who holds a current non-tourist visa or has been granted asylum to purchase one residential property of up to two acres, provided it is not within five miles of a military installation. The purchase must be registered, and a buyer affidavit is required.
Who Is Not Affected
The overwhelming majority of international buyers — Canadians, Brazilians, Argentines, British, Germans, and buyers from virtually every country other than the seven listed — are not "foreign principals" and face no SB 264 restriction at all. For them, the affidavit is a simple certification, and the purchase proceeds like any other Florida closing. Even buyers connected to the listed countries are only restricted as to the specific land categories above; the law is targeted, not a blanket ban on foreign ownership.
Practical Checklist for Buying From Abroad
- Confirm SB 264 status and prepare the buyer affidavit.
- Decide how to hold title (name vs. LLC vs. trust) before contract, with FIRPTA and estate tax in mind.
- Obtain ITINs for the buyers.
- Arrange cash or foreign-national financing and proof of funds.
- Handle beneficial-ownership/FinCEN reporting for entity purchases.
- Coordinate a remote or power-of-attorney closing if you can't travel.
- Put a cross-border estate plan in place so the property doesn't trigger U.S. estate tax or double probate.
Frequently Asked Questions
Related Reading
- FIRPTA Withholding in Florida — what happens when a foreign owner sells.
- Cross-Border Estate Planning for Florida Property — avoiding the U.S. estate-tax trap.
- Foreign-Investor Holding Structures — name vs. LLC vs. trust.
Buying Florida Real Estate From Abroad?
Truestead Law guides foreign buyers through SB 264 compliance, title and entity structuring, ITINs, remote closings, and a cross-border estate plan — one firm for the purchase and everything that comes after it.
International & Cross-Border Practice →This article is for general informational purposes and does not constitute legal advice. SB 264 is the subject of ongoing litigation and its enforcement may change; foreign-ownership and tax outcomes depend on your specific facts and country of domicile. Consult a licensed Florida attorney regarding your situation. Arthur Simpson, Esq. is licensed to practice law in the State of Florida. Attorney advertising.