A Brazilian Buyer's Guide to Buying Property in Miami

Brazil consistently ranks among the top countries of origin for Miami real estate buyers. This guide covers the legal, tax, and financing steps that are specific to Brazilian nationals — not the general foreign-buyer checklist, but the pieces that change because you hold a Brazilian passport and have income or assets in Brazil.

Published October 9, 2026

Florida's foreign-buyer law does not restrict Brazilians

Florida Senate Bill 264, signed into law in 2023, restricts the purchase of agricultural land and real property within ten miles of a military installation by nationals of seven named countries: China, Russia, Iran, North Korea, Cuba, Venezuela, and Syria. Brazil is not on that list. Brazilian nationals and Brazilian-owned entities may purchase Florida real estate on the same terms as other foreign buyers, with no acreage limit and no geographic restriction.

For reference, the 11th Circuit Court of Appeals enjoined enforcement of SB 264's restrictions against Chinese nationals in 2024 on constitutional grounds; that litigation continues. SB 264 does not restrict Brazilian nationals, but buyers of any nationality should confirm their own status with a Florida real estate attorney before closing.

FIRPTA: when it applies to you and when it does not

The Foreign Investment in Real Property Tax Act — 26 U.S.C. § 1445 — requires a buyer to withhold a portion of the sale proceeds when purchasing from a foreign person. The key distinction for a Brazilian buyer:

When you are the buyer

FIRPTA imposes no withholding obligation on you at purchase. If you are buying from a US citizen or a US permanent resident, there is no FIRPTA withholding. If you are buying from another foreign national, you become the withholding agent and must withhold from the seller's proceeds — typically 15% of the gross sale price — and remit it to the IRS within 20 days of closing using Form 8288. Your title company handles this in practice; confirm the seller's residency status early in the transaction.

When you sell

As a foreign person selling US real property, your buyer must withhold from your proceeds. The standard rate is 15% of the gross sale price, regardless of your actual gain. Two reduced rates apply: 10% if the buyer will use the property as a primary residence and the sale price is between $300,001 and $1,000,000; and 0% if the price is $300,000 or less and the buyer intends it as a primary residence. If your actual US tax liability is lower than the withholding amount — for example, because your gain is small or you have deductions — you can apply for a reduced withholding certificate on Form 8288-B before closing. Any amount withheld above your actual liability is refunded after you file a US nonresident return (Form 1040-NR).

There is no US-Brazil income tax treaty that modifies FIRPTA rates or provides an exemption. The two countries have a Social Security totalization agreement and a FATCA intergovernmental agreement, neither of which affects real estate withholding or capital-gains tax.

You will need an ITIN — apply before you go under contract

An Individual Taxpayer Identification Number (ITIN) is issued by the IRS to non-US persons who have a US tax obligation but are not eligible for a Social Security number. You will need one if you:

• Apply for a US mortgage (most lenders require it for underwriting)
• Receive rental income from the property
• Eventually sell and need to file Form 1040-NR to claim a FIRPTA refund

Apply on IRS Form W-7 with your original valid passport (or a certified copy) and documentation establishing a US tax filing requirement. Processing takes approximately seven to eleven weeks. Begin the application before you go under contract; a delayed ITIN can stall mortgage underwriting or complicate closing paperwork.

Financing options

US conventional financing requires a Social Security number. Brazilian nationals without US residency typically pursue one of two paths.

Foreign national mortgage

The international private banking arms of HSBC, Citi, and JP Morgan extend mortgages to non-resident foreign nationals based on international credit references, two years of bank statements, and documented income. Expect a down payment of 30 to 35% and higher interest rates than a US-resident borrower. Brazilian CPF numbers are generally not accepted as primary identification; provide a passport and a formal credit reference letter from your Brazilian bank. Lenders may also request translated and notarized copies of your Brazilian income tax returns (IRPF) and current bank statements.

ITIN mortgage

Once you have an ITIN, a smaller set of US lenders offers programs for ITIN borrowers. Down payment requirements can be as low as 15 to 20% in some programs. Underwriting uses Brazilian income documentation — bank statements, translated tax filings, and international credit references — rather than US credit scores.

Cash purchases are also common in Miami's mid-to-upper price ranges. Roughly half of luxury transactions in the metro close without a mortgage, which simplifies the transaction and eliminates the ITIN-before-closing timing issue, though you will still need an ITIN for subsequent rental or sale activity.

Holding structure and US estate tax

US estate tax applies to US-situated assets — including Florida real property — owned by non-resident foreign nationals at death. The non-resident exemption is only $60,000 (as of 2026; this figure is set by statute and changes over time). The US and Brazil have no estate and gift tax treaty that would expand this exemption or provide a credit. A Brazilian national who owns a $1 million Miami condo directly could face a US estate tax bill on most of that value if they pass away while holding title personally.

Single-member LLC

Holding title through a US LLC keeps your name off public deed records and limits personal liability to the LLC's assets. However, a single-member LLC owned directly by a foreign individual is a disregarded entity for US tax purposes — the IRS looks through it. FIRPTA and estate tax apply as if you held the property personally.

LLC owned by a foreign corporation

Having a non-US corporation (for example, a Brazilian holding company) own the LLC can remove the property from your personal US estate, because the asset becomes a share of a foreign company rather than a US real property interest. However, this structure introduces other US tax complexities, including potential branch profits tax on rental income, and does not eliminate FIRPTA on sale. It requires US tax counsel with cross-border Brazil-US experience before it can be recommended for any specific situation.

The correct structure depends on your Brazilian tax residency, intended use of the property, how you plan to finance it, and your estate plan in both countries. Engage a US attorney and a cross-border CPA before you sign a purchase contract — not at closing.

Wiring funds to close

International wires for Miami closings require careful timing: SWIFT transfers typically take three to five business days in transit, plus five to ten additional business days for the US receiving bank's AML review. Wire at least 30 days before your closing date. Pre-convert reais to US dollars at your Brazilian bank before wiring to avoid exchange-rate uncertainty at a critical moment. For a full walkthrough of the wire process — including SWIFT codes, fraud prevention, and what to do if the wire arrives short — see Wiring Funds Internationally for a Miami Closing.

Brazilian reporting requirements

Purchasing US property also creates reporting obligations to Brazil's authorities.

DCBE — Declaração de Capitais Brasileiros no Exterior

Brazilian tax residents who hold foreign assets — including real property — above a threshold set by the Banco Central do Brasil must file an annual DCBE declaration. As of 2026, the reporting threshold is approximately R$ 1 million; confirm the current figure and methodology with a Brazilian tax adviser before closing, as exchange-rate fluctuations can affect whether you cross the threshold.

FBAR — Report of Foreign Bank and Financial Accounts

If you open a US bank account and the aggregate balance exceeds $10,000 at any point during the calendar year, you must file FinCEN Form 114 (FBAR) with the US Treasury by April 15 of the following year (with an automatic extension to October 15). This is a US requirement that applies to Brazilian nationals who hold US financial accounts, not a Brazilian requirement. Failure to file carries substantial civil penalties.

FATCA — Form 8938

Brazilian nationals who are US tax residents — green card holders or substantial-presence residents — may also need to disclose foreign financial assets on IRS Form 8938 alongside their US tax return. If you are not a US tax resident, this form generally does not apply to you.

Questions people actually ask

Do I need to be physically present at closing in Miami?

No. A Florida real estate closing can be completed through a power of attorney executed on your behalf by a Florida-licensed attorney, or in eligible transactions via Florida's remote online notarization (RON) platform. Your title company and attorney will advise on which format is available for your transaction and what the POA document must contain under Florida law.

Can a Brazilian corporation hold the property directly?

Yes, a Brazilian entity can take title to Florida real property. The entity will need a US Employer Identification Number (EIN) obtained on IRS Form SS-4. The US tax treatment of a foreign corporation owning US real property — including FIRPTA on any future sale, withholding on rental income, and branch profits tax — is complex and requires US tax counsel before you proceed.

My bank in Brazil is asking for source-of-funds documentation to approve the wire. Is this normal?

Yes. Brazilian banks apply their own AML compliance rules and may require documentation showing where the funds originated — income records, sale proceeds from an asset, investment liquidations, or similar — before approving a large international transfer. Plan for this requirement early and keep the documentation organized. The US receiving bank and title company may make similar requests independently.

Will I owe Brazilian tax on my Miami property?

Brazilian tax law taxes Brazilian tax residents on worldwide income, including rental income from foreign property and gains on the sale of foreign assets. Brazil's Receita Federal applies its own rules for recognizing and taxing these amounts, which differ from US rules. Without a comprehensive US-Brazil income tax treaty, there is limited coordination between the two systems; you may owe tax in both countries on the same income, with limited ability to offset one against the other. A Brazilian tax adviser familiar with foreign real estate is essential.

Stefania Riverin, Licensed Real Estate Sales Associate, FL SL3620067, brokered by NB Elite Realty. General information about the purchase process for Brazilian nationals, not legal, tax, or financial advice. Laws, tax rates, and treaty status change; consult a US attorney and a cross-border CPA before structuring any transaction.