How you hold title to a Miami condo or home can affect your taxes, your estate planning, and your personal liability. Depending on the structure, an entity may reduce tax costs on a future sale, address U.S. estate tax exposure (which can reach 40% for owners who are not U.S. citizens or domiciled in the U.S.), and separate your personal assets from claims related to the property. The right choice depends on your country of residence, your goals, and how you plan to use the property.
Globalty Investment coordinates with licensed attorneys and tax professionals to help clients evaluate their options and put a structure in place before closing. We handle the real estate side of the transaction and work alongside your advisors on the legal and tax side.
Buying luxury real estate in Miami involves several steps: selecting the property, coordinating financing and due diligence, setting up ownership, and, for many investors, renting it out. Globalty Investment supports each stage, from the first search through closing and ongoing property management.
When an entity holds title to the property, it can help separate your personal assets from liability tied to the property, including claims that arise from renting it out. The entity owns the real estate, and its structure affects how income is taxed and reported, so it's worth setting up before closing and with the guidance of your attorney and tax advisor.
Once you own, our property management team handles tenant placement, rent collection, and day-to-day operations for your rental.
Ownership structure determines how a Miami property is taxed and reported. Many LLCs and partnerships are pass-through entities, in which income is generally taxed to the owners in proportion to their interest. The entity's accountant prepares its annual filings with the Internal Revenue Service (IRS).
Non-U.S. sellers are subject to the Foreign Investment in Real Property Tax Act (FIRPTA), which generally requires the buyer to withhold a percentage of the sale price, typically 15%. The effect of a given structure on that withholding depends on the entity type and its tax classification, and should be reviewed with a tax professional before acquisition.
A properly formed entity can also separate personal liability from debts and claims tied to the property, though the degree of protection varies by structure and circumstance.
Globalty Investment coordinates with licensed attorneys and tax professionals, so these questions are addressed before closing.
Globalty Investment introduces clients to U.S. and international banking partners to help open accounts. Approval is at each bank's discretion, and personal accounts generally require the client to be present in person. Our team accompanies clients through the process.
For clients who need banking outside the United States, we can introduce them to international banking contacts.
We also work with a Miami immigration law firm, available to clients with questions about residency, visas, and investment-related immigration matters.
