How to send money from abroad to buy property in Miami
Short answer: Each installment is paid by international wire, sent from a bank or licensed currency provider in your country straight to the project's escrow account in Miami. Taxes and reporting on the transfer depend on your home country, so your accountant handles that side.
This is the question that stops most international buyers: "fine, but how do I actually send the money?" The good news is that thousands of foreign buyers do this every year, legally and in an organized way. Here is the overview, keeping in mind that the tax and currency rules in your home country should be confirmed with your accountant.
How does the money get to Miami?
Each installment of the purchase is paid by an international wire transfer to the project's escrow account in Miami. On your home-country side, the remittance is made through a bank or a currency brokerage, with the proper documentation.
What taxes and reporting apply?
Depending on your country, a tax on the operation may apply, and the amount sent must be reported under your local rules. Property abroad, once bought, goes on your asset declaration. None of this is a blocker, it's just organization, and your accountant handles that side.
How do you avoid wire fraud?
Wire fraud is real in real estate. The rule is simple and unbreakable: never send a transfer based only on emailed instructions. We always confirm by phone, with the right person, who the escrow agent is and the exact account details before any transfer.
What does the agent do and what does your accountant do?
On the Miami side, Lory Minici tracks the escrow account, the deadline for each installment and the verification of wire instructions. Currency, local taxes and filings stay with your accountant or currency advisor. If you don't have that support yet, Lory Minici can refer professionals who work with international buyers.
Who handles each step?
Each step of the transfer has an owner and a checkpoint:
| Step | Who handles it | What to check |
|---|---|---|
| Each installment (wire) | Your bank or licensed currency provider | Escrow account details from the contract |
| Currency exchange | Bank or provider | Rate and fees on the day of the transfer |
| Home-country reporting | Your accountant | Rules for declaring assets held abroad |
| Wire instructions | Escrow agent | Confirm by phone, at a number you already know, before every wire |
To plan each installment, see how much a condo costs in Miami and the deposit schedules on the project pages.
Frequently asked questions
Can I send the money straight to the developer?
That is not the usual path. Deposits go to the escrow account named in the contract, held by an independent agent as Florida law requires.
Do I need to report the property at home?
Usually yes; the rules depend on your country of tax residence. Your accountant tells you what to declare and when.
How do I avoid wire fraud?
Never use account details received only by email. Confirm by phone with the escrow agent, at a number obtained another way, before each wire.
Sources: FBI, Business Email Compromise and Real Estate Wire Fraud (2022), Florida Statutes 718.202; checked October 2026.
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