For several years now, Miami has established itself as a prime destination for European clients—French, British, and Northern European—seeking a second home outside of Europe. Several factors explain this enduring appeal, beyond just the climate.
A game-changing tax system
Florida does not levy state income tax. This is an advantage that European buyers naturally compare to the tax system in their home country. However, this does not exempt them from U.S. federal taxes or reporting obligations in their country of residence. Therefore, guidance from tax advisors on both sides of the Atlantic remains essential.
Direct air connectivity
Direct air links between Miami and several major European cities have greatly facilitated regular travel. This is a key factor for clients who envision a second home as a place to live for several months a year, and not as a passive investment.
A property market that is easy to understand for a foreign buyer
Compared to other American markets, Miami has a well-established ecosystem for welcoming international buyers: bilingual professionals, specialized law firms, and banks offering financing for non-residents. This familiarity significantly reduces many of the challenges typically associated with a first-time purchase abroad.
BARNES Miami's Insight
Our European clients benefit from BARNES International Realty's dual presence, with offices in both Europe and Miami. Our consultants, including Enzo Rosani, The Managing Partners of BARNES in Florida are therefore familiar with both sides of the transaction. They assist European buyers from the initial property search to the handover of the keys.
Frequently Asked Questions
Can a European finance a property purchase in Miami from their country of origin?
Yes, several American banks offer financing programs dedicated to non-residents, with specific conditions.
What taxes apply to property owned in Miami by a European resident?
Rental income and capital gains on resale are subject to US federal taxation, in addition to reporting obligations in the owner's country of residence. Tax advice from both sides is therefore recommended.
How many hours per year can one occupy a secondary residence in the United States without a specific visa?
The permitted length of stay depends on the owner's immigration status. This point should therefore be verified with an immigration advisor before any purchase intended for residential use.
Are you considering a second home in Miami?
Our BARNES Miami consultants will assist you at every stage, from property search to structuring the acquisition.
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