If you are a foreign national buying Miami commercial real estate, the three questions that matter most are how the deal is structured, how you are taxed on the way out, and how the asset is financed. On exit, the Foreign Investment in Real Property Tax Act (FIRPTA) generally requires the buyer to withhold 15% of the amount realized when purchasing a U.S. real property interest from a foreign seller, with the funds remitted to the IRS against any capital gains owed [1]. On the way in, foreign national commercial loans are available in South Florida but typically carry higher down payment requirements than domestic loans. And on structure, most cross-border buyers hold through a U.S. entity for liability and tax-planning reasons, which should be set up with a tax attorney or CPA before you go under contract.

Miami remains a primary destination for international capital. Florida drew 21% of all international home buyers in the year ending March 2025, the top share of any state, according to the National Association of Realtors [2]. That residential demand sits alongside a commercial market shaped by trade and logistics flows through PortMiami and Miami International Airport. This guide covers the asset classes foreign buyers focus on, the FIRPTA mechanics, financing, and the acquisition process.

Last updated: June 2026

Why international capital looks at Miami commercial assets

Miami functions as a trade gateway between the United States and Latin America, and that role anchors demand for industrial, logistics, and multifamily assets. PortMiami handled 1,115,058 TEUs in fiscal year 2025, its eleventh consecutive year above one million TEUs [3]. Miami International Airport reported a separate record in air cargo, ranking first in the United States and third in the world by total freight tonnage in 2025 [4]. For an investor underwriting warehouse or distribution space, that throughput is the demand driver behind rents in submarkets near the port and the airport.

International buyers also treat U.S. real estate as a dollar-denominated hard asset. For buyers from markets with currency or political volatility, that is part of the appeal. It is not a guarantee of returns. Cap rates, vacancy, and lease quality still govern outcomes.

Asset classes foreign buyers focus on

Commercial opportunities in the metro generally sort into four categories. Each carries a different risk and management profile.

Multifamily. Sustained in-migration and a high cost of for-sale housing support rental demand across the county. Underwriting turns on rent rolls, expense ratios, and any rent-regulated units.
Industrial and logistics. Warehouse and distribution space near PortMiami and the airport, including submarkets such as Doral and Medley, draws demand from the trade flows described above. Vacancy and lease term drive value here.
Retail. Corridors in Brickell, the Design District, and along high-traffic streets are supported by tourism and population growth. Tenant credit and lease structure matter more than headline foot traffic.
Office. Class A space in the urban core has seen relocations from out-of-state firms. Office carries higher leasing and capital-expenditure risk than the other classes, so verify in-place occupancy and rollover schedules.

Before committing to an asset class, it helps to align the target with your hold period and risk tolerance. A buyer consultation is a place to map investment goals to current inventory.

FIRPTA and tax structure

FIRPTA is the federal rule most likely to surprise a first-time cross-border seller. When a foreign person disposes of a U.S. real property interest, the buyer is generally required to withhold 15% of the amount realized, which the Code defines as cash paid plus the fair market value of other property transferred plus liabilities assumed [1]. The buyer is the withholding agent and remits the amount on IRS Form 8288. The 15% figure is a withholding rate against potential tax, not a separate tax; a seller who overpays can claim the difference by filing a U.S. return.

Reduced and zero rates exist in narrow residential cases tied to the buyer's use and the price, but the 15% rate is the general rule for commercial dispositions [1]. Holding through an entity can change how gains are taxed and how withholding applies, which is why structure should be decided with a qualified tax attorney or CPA before closing rather than after. This article is general information, not tax advice.

Financing as a foreign national

Foreign national loans are available in the South Florida market, but terms differ from domestic financing. Lenders typically require larger down payments and may price in additional documentation requirements for income and assets held abroad. Building a relationship with a local bank or commercial lender early, before you identify a specific property, tends to shorten timelines on later acquisitions. Confirm rate, term, and down payment requirements in writing during your search rather than at the contract stage.

The acquisition process

Buying commercial property in Florida follows a sequence that may differ from your home country.

Letter of intent

Once a property meets your criteria, the buyer submits a letter of intent (LOI). The LOI is non-binding and outlines price, the due diligence period, and a target closing date. It frames the later Purchase and Sale Agreement (PSA).

Due diligence

This is the phase that protects the investment. A defined period, often 30 to 60 days, lets you inspect the property, review rent rolls and operating statements, order environmental studies, and verify zoning and entitlements. Miami deals frequently require a team familiar with local code, including engineers and environmental consultants.

Closing and structure

The entity that takes title should already exist by closing. Coordinate the entity, financing, and FIRPTA planning so they are settled before signatures rather than renegotiated at the table.

Local market knowledge

The metro is a set of distinct submarkets, not one market. Brickell anchors high-density office and retail in the urban core. Coral Gables carries a stable, long-standing corporate office presence. Wynwood has shifted toward creative and technology uses with adaptive-reuse opportunities. Underwriting that treats these as interchangeable misreads the risk. If you already hold Miami assets and want a current read on value, a listing valuation is a starting point.

Frequently asked questions

What is the FIRPTA withholding rate for foreign sellers?

The buyer is generally required to withhold 15% of the amount realized when purchasing a U.S. real property interest from a foreign person, remitted to the IRS on Form 8288 [1]. Reduced rates apply in limited residential cases. The withholding is credited against the seller's actual tax liability, and any excess can be recovered by filing a U.S. return. Confirm current rules with a tax professional.

Can a foreign national get a loan for Miami commercial property?

Yes. Foreign national commercial loans are available in South Florida, though they typically require higher down payments and more documentation of foreign income and assets than domestic loans. Terms vary by lender, so get rate, term, and down payment requirements in writing.

How much foreign capital flows into Florida real estate?

Florida was the top U.S. destination for international home buyers in the year ending March 2025, drawing 21% of all foreign buyers, per the National Association of Realtors [2]. That residential demand sits alongside commercial activity tied to trade through PortMiami and Miami International Airport.

Why is Miami industrial space in demand?

Proximity to PortMiami and Miami International Airport, both of which posted record cargo results in fiscal 2025, supports demand for warehouse and distribution space [3][4]. Submarkets such as Doral and Medley sit near these logistics hubs.

Should I hold Miami commercial property through an LLC?

Many cross-border buyers hold through a U.S. entity for liability and tax-planning reasons, but the right structure depends on your circumstances and home-country tax treaty position. Decide structure with a tax attorney or CPA before going under contract, not after.

Gabriel

Sources

Gabriel A. Moyers, PA. eXp Realty. Florida License #3407280. Equal Housing Opportunity. This article is general information as of June 2026 and is not legal, tax, or financial advice. Verify current figures against authoritative sources before acting.

A foreign investor's guide to Miami commercial real estate