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Being a Foreign Company (Non-US) Investor in Florida

Transferring real estate property can be especially difficult if living abroad or having only a limited stay in the U.S. Thus, foreign investors need a reliable and experienced consultant who can move a transaction smoothly toward closing, while minimizing risks.

State Permission

In order to acquire real property in Florida, state permission is not required. However, all non-Florida entities intending to engage in a trade or business in Florida must obtain a Certificate of Authority. Trade or business engagement includes real estate activities such as managing, leasing, or developing real property.

Restriction

There is no restriction imposed by Florida statutes on foreign investors purchasing real property or interests in entities that own real property.

Tax Obligations

There are no taxes imposed by Florida unique to foreign owners. However, after the transfer of US real property interests by a foreign owner, federal law imposes withholding, income tax reporting, and payment obligations.

Foreign investors and entities are subject to the same taxes as residents who buy, sell, and own property.

A foreign investor does not need a green card or to be a citizen in order to acquire a real property in Florida, however, will need an either Individual Tax Identification Number (ITIN), or an Employer Identification Number (EIN).

If you’re a foreign investor in Florida, give us a call @ 305-728-5331 to set up your consultation with our team.

Disclaimer: The information provided in this post does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this post may not constitute the most up-to-date legal or other information. Readers should contact their attorney to obtain advice with respect to any particular legal matter. No reader, user, or browser of this site should act or refrain from acting on the basis of information on this post without first seeking legal advice from counsel in the relevant jurisdiction. Only your individual attorney can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this post do not create an attorney-client relationship between the reader, user, or browser and Aktas Law, P.A. All liability with respect to actions taken or not taken based on the contents of this site are hereby expressly disclaimed. The content on this posting is provided “as is;” no representation are made that the content is error-free.

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