Thousands of Venezuelans abroad invest in Miami
Venezuela
Thousands of Venezuelans abroad have found in Miami a concrete way to protect their wealth, generate income in dollars, and build a solid asset beyond the reach of Venezuela’s economic crisis.
Whether you live in Venezuela, elsewhere in the region, in Spain, or in the U.S. with a valid immigration status, this guide explains how to buy property in Miami, what taxes apply, and how to structure the investment.
Can You Buy Property in Miami?
Yes. Venezuelan citizens can buy real estate in Florida without needing permanent residency, a work visa, or any special immigration process.
Key points for Venezuelan buyers:
Taxes When Buying and Investing in Miami
Florida is one of the most tax-friendly states in the U.S. It has no state income tax.
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Schedule a Free ConsultationSpecial considerations based on your country of residence
The Venezuelan investor profile is diverse: many reside in Colombia, Peru, Spain, Chile, Panama, or already hold some status in the U.S.
Main scenarios to consider:
FIRPTA
FIRPTA is a U.S. federal law that imposes a 15% withholding on the gross sale price when a nonresident foreign national sells a property.
Key points for Venezuelan buyers to consider before selling.
Essential aspects of FIRPTA:
Is It Worth Creating an LLC to Buy in Miami?
The LLC vs. personal purchase question comes up frequently among Venezuelans investing in Miami.
Considerations for Buying in Your Personal Name
An LLC involves annual maintenance costs. For a single, lower-value property, the cost-benefit should be carefully evaluated.
Why Is Miami Still a Great Bet?
For the Venezuelan investor, Miami is not just a real estate opportunity — it's a wealth-protection strategy.
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Legal notice: The information contained on this page is general and informational in nature. It does not constitute legal, tax, or financial advice. Each situation should be reviewed by qualified professionals.
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