You can buy an apartment in Miami without living there or holding a visa.
What changes compared with buying in Colombia: you pay taxes in both countries, fixed costs are higher than they look, and what you receive in pesos depends on how the dollar moves.
How to buy from Colombia
Four decisions, in this order. The first one changes the result most.
- 1
Pick a building where you can rent the way you want
In Miami each city and each building sets its own rules: Miami Beach bans short-term rentals in most of its residential areas, and many buildings require minimum stays of a month or more. If you plan to rent by the night, look for a building that allows it in writing.
What a short-term rental (STR) is - 2
Decide whose name it goes in
You can buy in your own name or through a company, such as an LLC. The choice changes the taxes in both countries and what happens to the property if you die. Decide it with a lawyer before you sign.
- 3
Move the money out of Colombia through the formal channel
The transfer goes through the foreign exchange market, with its exchange declaration, and the investment is registered with Banco de la República. That record is what later backs the money coming back in when you sell.
- 4
Close with a title company and get your ITIN
In the United States a title company handles the closing: it checks the property has no debts and records the deed. The ITIN is your tax number there: you need it to report the rental income.
One year, in dollars and in pesos
A made-up 400,000 dollars apartment in Downtown Miami, in a building that allows nightly rentals. It takes in 52,000 dollars a year from guests, not counting lodging taxes, which guests pay on top.
| Item | In the year, in dollars |
|---|---|
| Income from nights sold | 52,000 |
| Platform commissions and cleaning | − 9,000 |
| Operator (20% of income) | − 10,400 |
| Building fee (HOA, 800 dollars a month) | − 9,600 |
| Property tax (2% of value) | − 8,000 |
| Insurance, utilities and upkeep | − 4,000 |
| What the owner keeps | 11,000 |
That's 2.75% a year on the price, before income tax. Property tax and the building fee are due even when the apartment sits empty: in Miami they weigh more than in Colombia.
What the building fee isThe same dollars, in pesos
What the owner keeps is earned in dollars. In pesos, it depends on the exchange rate on the day you bring it home.
| If the dollar is at | You get |
|---|---|
| 3,600 pesos | 39,600,000 pesos |
| 4,000 pesos | 44,000,000 pesos |
| 4,400 pesos | 48,400,000 pesos |
Between the lowest and the highest rate in the table there's 8,800,000 pesos of difference for the same rent. The dollar also moves the apartment's value measured in pesos, for or against you.
What the TRM isTaxes, in both countries
Colombia and the United States have no double taxation treaty. You pay in both, and Colombia lets you credit part of what you paid there.
In the United States
On the rent
By default 30% of gross income is withheld. If you elect to be taxed on net income, with your ITIN and a yearly return, you pay on the profit after expenses. Florida has no state income tax on individuals.
When you sell
The buyer withholds 15% of the sale price for the IRS, not of the gain (with exceptions for lower-priced homes). You then file and get back whatever was withheld beyond what you owe.
If the owner dies
For non-residents, federal estate tax applies from 60,000 dollars of assets in the United States, at rates of 18% to 40% on the excess. It's the most common reason to buy through a company.
In Colombia
On your income tax return
If you're a Colombian tax resident, you report what you earn worldwide: the apartment goes in your net worth and the rent in your income. You can credit part of the tax you paid in the United States.
The foreign assets return
If on January 1 your assets outside the country are worth more than 2,000 UVT, you also file this yearly return, even if they gave you no income.
When you sell
If you held the apartment two years or more, the gain is ganancia ocasional, taxed at 15% in Colombia, and you can credit what you paid in the United States on the same sale.
What ganancia ocasional is
Rules change and every case is different: review yours with an accountant who knows both countries.
What to check
Before looking at what a Miami apartment can earn, look at what can turn out differently.
The dollar
If the peso strengthens, what you receive and what the apartment is worth fall in pesos, even if they don't change in dollars.
Rental rules
A city or a building can change its short-term rental rules. Read the building's bylaws, not just the listing.
The building fee and special assessments
Since Florida's 2022 building safety law, buildings can no longer skip saving for major repairs. That raises fees, and in older buildings it can bring special assessments.
Hurricanes and insurance
Insuring an apartment in Miami costs more than in Colombia and has risen in recent years. Put it in your numbers at today's price.
Distance
From Colombia you depend on an operator for everything: guests, cleaning, repairs. Check what they charge and what's included before you buy.
Getting out
Selling an apartment takes months, with closing costs and the withholding on the seller. Only put money there that can sit still for several years.
What liquidity is
Frequently asked questions
Can a Colombian buy an apartment in Miami?
Yes. You don't need to be a resident or hold a visa to buy real estate in the United States. Buying doesn't give you a visa or residency either.
How much is property tax in Miami?
About 2% a year of the value the county sets, depending on the area. In Downtown Miami the 2025 rate was about 20 dollars for every 1,000 of assessed value.
Do I have to declare a Miami apartment in Colombia?
Yes, if you're a Colombian tax resident: it goes in the net worth on your income tax return, the rent in your income, and if your foreign assets exceed 2,000 UVT on January 1, you also file the foreign assets return.
Can you do Airbnb in Miami?
It depends on the city and the building. Miami Beach bans it in most residential areas and many buildings require long minimum stays. Some buildings allow nightly rentals; check their bylaws before you buy.
What is 501 First Residences?
A 40-floor tower with 448 residences at 501 NE 1st Ave in Downtown Miami, developed by Aria Development Group. Its bylaws allow units to be rented by the night.
Projects in Miami
You join with a share of a unit instead of buying the whole apartment. The project page shows how it's structured, its projected figures in dollars and its risks.
Project in OperationKeep going
- How a short-term rental apartment makes moneyOccupancy, rate and costs, line by line, with a sample month.
- 501 First ResidencesA private project on a short-term rental unit in Downtown Miami. See how it's structured and what risks it carries.
- What is the TRM?The rate your dollars convert to pesos at, explained briefly.
Educational content. It is not financial, legal or tax advice, nor a public offering of securities. The example apartment is made up and its figures don't belong to any project. The tax and exchange rules cited can change; check your case with a professional. Every stake in a private project carries risk, and its results depend on how the project performs.