# What Venezuelans Need to Know Before Buying Property in Florida

> There is no single Venezuelan buyer in Florida. There is the political exile who left Caracas in 2009, built a business in Doral, and is now buying an investment property near...

- URL: https://maxliferealty.com/blog/venezuelans-buying-florida
- Author: Ryan Solberg, Florida real estate broker (BK3354351), MaxLife Realty
- Published: 2026-05-18
- Category: Investment

## Key Takeaways

- Venezuelan buyers in Florida are overwhelmingly diaspora — people already living in the US, Colombia, Spain, or Panama, not buyers wiring money from Caracas. The currency story is almost always USD-to-USD.
- Florida SB 264 (2023) restricts real estate purchases by 'foreign principals' of the Venezuelan Maduro regime — but this applies to individuals domiciled in Venezuela and aligned with the government, not Venezuelan-Americans, permanent residents, visa holders, or diaspora buyers.
- FIRPTA withholding: when a foreign national sells, 15% of the gross sale price is withheld at closing. On a $420,000 sale, that's $63,000 withheld regardless of actual capital gain. Fully recoverable — but takes 6–12 months to get back.
- There is NO US–Venezuela estate tax treaty. Venezuelan nationals who are non-resident aliens get only a $60,000 US estate tax exemption on US-situs assets, versus $13.6M for US persons. Structure ownership correctly before closing — not after.
- Venezuelan nationals face OFAC compliance hurdles with traditional US mortgage lenders. Most established diaspora buyers go all-cash. Venezuelan nationals who need financing can access private/bridge lenders using asset-based underwriting, not income verification.
- Orlando's Venezuelan community is concentrated in the Kissimmee/Osceola corridor, with additional presence in Dr. Phillips and the broader southwest Orange County area. Doral is the Miami hub; for investment property near Disney, the same corridor serves both communities.
- Residency status matters enormously for financing access: a Venezuelan-American citizen has full conventional mortgage access; a permanent resident is nearly equivalent; a TPS holder (now in legal limbo) or tourist visa holder faces serious financing constraints.

There is no single Venezuelan buyer in Florida. There is the political exile who left Caracas in 2009, built a business in Doral, and is now buying an investment property near Disney for income. There is the Venezuelan-American who grew up in Orlando and is buying their first home in Dr. Phillips. There is the professional in Bogotá or Madrid with Venezuelan roots who wants a US-dollar asset in a stable market. And there is the recent arrival navigating uncertain immigration status who wants to know if they can buy at all.

The answer to that last question is almost always yes — non-US citizens can buy real estate in the United States regardless of visa status. But the legal and financial complexity varies enormously across these profiles, and the guidance that applies to one Venezuelan buyer may be wrong or irrelevant for another. This page covers the full picture.

## The Diaspora Reality: Most Venezuelan Buyers Are Already Here

![A tidy Central Florida single-family rental home with fresh landscaping and a two-car garage](https://maxliferealty.com/images/blog/inline/investment-rental-2.jpg)

Florida's Venezuelan population reached roughly 400,000 by late 2025, accounting for nearly half of all Venezuelans in the United States. They are overwhelmingly concentrated in two Florida hubs: the Miami-Doral corridor — "Doralzuela," where approximately 40% of Doral's residents are of Venezuelan origin — and Central Florida, where Orlando and the Kissimmee/Osceola corridor host more than 13,000 Venezuelan residents in the city proper and over 127,000 in the wider metro.

This means the currency story most foreign buyer guides lead with is largely irrelevant for Venezuelan buyers. You are not converting bolivars. The Venezuelan bolívar (VES) has experienced catastrophic hyperinflation — from roughly 52 to the dollar at the start of 2025 to over 500 per dollar by May 2026, with black market rates higher still — but established Venezuelan buyers in Florida have been operating in US dollars for years. Money came out of Venezuela a long time ago, held in Colombian bank accounts, in Miami brokerage accounts, in properties already purchased in Panamá City or Bogotá. When a Venezuelan buyer in Doral purchases a $420,000 Orlando investment property, the wire comes in USD.

What matters for this community is the legal and tax framework — which has several Venezuela-specific wrinkles that are meaningfully different from other Latin American buyers.

## Florida's SB 264: What It Actually Restricts

Florida Senate Bill 264, signed in May 2023 and effective July 1, 2023, restricts real estate purchases by "foreign principals" from "countries of concern," a list that includes "the Venezuelan regime of Nicolás Maduro."

This sounds alarming at first read. But the restriction is narrower than the headline.

The law targets individuals who are **domiciled in Venezuela** and who are affiliated with or controlled by the Maduro government — regime-connected actors whose property ownership poses a national security concern. It specifically restricts acquisition of agricultural land statewide and any real property within 10 miles of military installations or critical infrastructure.

Venezuelan-Americans, US permanent residents, work visa holders, and diaspora buyers living outside Venezuela are **not** "foreign principals" under this definition. The overwhelming majority of Venezuelan buyers in Florida — the established Doral community, the Kissimmee resident, the Venezuelan-American first-time buyer — are simply not covered by this restriction.

If you are a Venezuelan national currently domiciled in Venezuela, consult a Florida real estate attorney before proceeding. If you are part of the diaspora, this restriction almost certainly does not apply to you — but the question is worth confirming with counsel given the political sensitivity.

## Know Your Profile: Residency Status Changes Everything

Venezuelan buyers span a wide range of legal situations, and your options depend substantially on where you stand:

**US citizen (Venezuelan-born or naturalized):** Full access to conventional mortgages, no FIRPTA, full US estate tax exemption, no foreign buyer complications. The purchase is functionally identical to any other American buyer.

**Permanent resident (green card holder):** Nearly equivalent to a citizen for real estate purposes. Conventional mortgage access, no FIRPTA on sale of primary residence if meeting occupancy requirements, full US estate tax exemption. The most favorable immigrant buyer profile.

**Work visa holder (H-1B, E-2, L-1, O-1):** Can purchase freely. Conventional mortgage access is available with a valid SSN and documented income, though some lenders require two years of US employment history. FIRPTA applies on sale unless specific exemptions are met. US estate tax applies above the $60,000 non-resident exemption.

**Venezuelan national living in another country:** Full foreign buyer profile. FIRPTA applies on sale. No US estate tax treaty protection. OFAC compliance complications for traditional mortgage lenders. All-cash purchase is the most practical approach for most. SB 264 is unlikely to apply if domiciled outside Venezuela, but confirm with counsel.

**TPS holder (now largely resolved):** Venezuelan TPS was revoked by October 2025 after Supreme Court action. Former TPS holders who have not converted to another immigration status face significant uncertainty. Property ownership rights are not affected — you can still own US real estate — but financing access may be constrained depending on current status, and long-term residency uncertainty affects holding strategy.

## The Real Carrying Cost of a $420,000 Florida Home

For a $420,000 home in Orange County — roughly the mid-range for established Venezuelan buyers:

**Property taxes:** $4,200–$6,500/year for non-residents. The Florida homestead exemption ($50,000 reduction in assessed value) is only available to primary residents of Florida — non-resident investors do not qualify.

**Homeowners and wind insurance:** $3,000–$5,500/year, depending on construction year, roof condition, and flood zone. Florida insurance premiums have risen sharply since 2022. Get a quote before you make an offer, not after.

**Flood insurance:** Separate from homeowners insurance and mandatory in many Orange County zones. Budget $1,500–$3,000/year in flood-prone areas. Check FEMA flood maps before selecting a neighborhood.

**HOA fees:** Many communities in the Kissimmee/Osceola corridor, Dr. Phillips, and Lake Nona carry HOA fees of $200–$600/month. Resort communities near Disney run higher. This is not optional.

If you are buying as an investment property for short-term rental near Disney, add full-service property management at 15–25% of gross revenue. On a property generating $40,000/year in STR income, that is $6,000–$10,000 in management fees. For an absentee owner in Doral or Bogotá, professional management is not optional.

## Financing: The OFAC Complication

Your financing access depends on your immigration status, but Venezuelan nationals face an additional layer: OFAC (Office of Foreign Assets Control) Venezuela-related sanctions.

US banks subject to OFAC compliance requirements must screen mortgage applicants against Venezuela-related sanctions lists. The sanctions target the Maduro regime and regime-affiliated individuals — they do not prohibit a Venezuelan national from buying US real estate — but the compliance burden causes many conventional and regional lenders to decline Venezuelan national applicants rather than conduct the required review.

The practical result: most Venezuelan nationals purchasing US investment property buy **all-cash**. Historically, roughly 90% of Venezuelan buyers have purchased cash — a rate consistent with a buyer profile that moved money out of Venezuela years ago and has been holding it in dollars ever since.

For Venezuelan nationals who need financing, the realistic options are:

- **Private/bridge lenders with OFAC compliance programs:** Asset-based underwriting using the property as collateral, not income verification or personal credit. These lenders exist specifically for OFAC-country national borrowers and complete the required sanctions screening.
- **Foreign national portfolio lenders:** Some non-bank lenders run foreign national programs with 25–30% down, using bank statement underwriting and accepting foreign income documentation.

Do not attempt a conventional mortgage application at a standard bank as a Venezuelan national and expect a smooth process. Work with a mortgage broker who has done this before.

## FIRPTA — The Rule That Surprises Everyone at Closing

FIRPTA (Foreign Investment in Real Property Tax Act) requires the buyer's title company to withhold **15% of the gross sale price** and remit it to the IRS when a foreign national sells US real estate. On a $420,000 sale, that is $63,000 withheld at closing — regardless of whether you made a profit.

You recover it through filing a US non-resident return (Form 1040-NR). The process takes 6–12 months. Your actual capital gain tax liability is applied against the withheld amount and the IRS refunds the difference.

FIRPTA does not apply to US citizens, permanent residents, or non-residents who qualify for the principal residence exemption. If you are a Venezuelan-American or green card holder, clarify your FIRPTA status with a CPA before you sell — your status since purchase may have changed.

## Estate Tax: No Treaty, Full Exposure

![A real estate agent showing a bright, open Central Florida home to smiling buyers](https://maxliferealty.com/images/blog/inline/buying-home-tour-1.jpg)

This is the most important financial planning point for Venezuelan nationals, and the one most frequently overlooked.

Venezuela and the United States have an income tax convention (signed 1999), but **no estate and gift tax treaty**. This distinction is critical.

Without a treaty, Venezuelan nationals who are non-resident aliens face only a **$60,000 US estate tax exemption** on US-situs assets — compared to the $13.6 million exemption US persons receive in 2026. On a $420,000 Florida property held personally, roughly $360,000 is exposed to US federal estate tax at rates that reach 40% — approximately $144,000 in potential tax liability that passes directly to your heirs.

Contrast this with UK buyers, who have a treaty giving them a proportionate share of the full US exemption, or Canadian buyers who benefit from specific treaty provisions. Venezuelan buyers have no such protection.

The solutions depend on your total US asset picture:

**Florida LLC:** Holding the property through a properly structured Florida LLC converts US-situs real property into an interest in a US entity — and while sophisticated tax planning is still needed, entity ownership creates structural options that direct personal ownership does not.

**Foreign corporation:** Some Venezuelan buyers hold US property through a foreign corporation. This removes the property from the US estate but creates other tax issues (branch profits tax, FIRPTA structuring) that require careful planning.

**US life insurance:** A US life insurance policy specifically sized to cover the estate tax liability is a cleaner approach for some buyers — straightforward premium, guaranteed benefit, no restructuring of the property ownership.

**Irrevocable trust:** An irrevocable trust holding the US property can remove it from the taxable estate if structured correctly, but involves giving up control and requires advance planning.

None of these options works well when set up retroactively. Structure ownership correctly **before you close** — it is expensive to fix after the fact. This requires a US estate attorney with Latin American cross-border experience, not a general Florida estate planning attorney and not a Venezuelan attorney unfamiliar with US tax law.

## Two Strategies: Investment Near Disney or Orlando Lifestyle Base

Venezuelan buyers in Central Florida tend to split into two groups with very different needs.

**STR investors — yield first:** Venezuelan buyers from Doral and other South Florida communities frequently purchase in the Disney vacation rental corridor for income. Communities like Reunion Resort, Champions Gate, and the Davenport/Haines City corridor permit short-term rentals, sit 15–20 minutes from Disney, and generate 40–50 week occupancy when managed professionally. Entry prices run from $350,000 (Davenport townhomes) to $600,000+ for larger resort homes. For a Doral-based Venezuelan buyer managing the property remotely, this is a familiar model — cash purchase, professional management, dollar-denominated income. Verify STR permitting at the community level before making an offer. Two communities on the same road can have completely different rules.

**Lifestyle buyers — community first:** Venezuelan buyers establishing a Central Florida base — whether full-time or seasonal — look to [Dr. Phillips](https://maxliferealty.com/dr-phillips) for its established Latin American community feel and proximity to Restaurant Row. [Windermere](https://maxliferealty.com/windermere) and the [Butler Chain of Lakes](https://maxliferealty.com/butler-chain-of-lakes) corridor attract Venezuelan buyers seeking more land, waterfront access, and a less dense residential character. [Lake Nona](https://maxliferealty.com/lake-nona) draws buyers who want newer construction, a master-planned community, and employment-corridor proximity that supports long-term value. The Kissimmee/Osceola corridor, while not traditionally a luxury market, has a large and established Venezuelan and broader Latin American community with the social infrastructure — Venezuelan restaurants, Spanish-speaking professionals, familiar cultural context — that many buyers prioritize over address prestige.

## HOA Rules: Read Before You Buy

Florida's community rules on rentals vary enormously. Some communities allow nightly STR; some impose 30-day minimum tenancies; some prohibit all rentals. The Disney-corridor communities that permit STR charge a premium specifically because of that permission. Communities in [Dr. Phillips](https://maxliferealty.com/dr-phillips) and [Windermere](https://maxliferealty.com/windermere) that work well as lifestyle properties often prohibit short-term rentals.

Pull the HOA CC&Rs before you make an offer. The title company will not flag rental restrictions for you. Your agent should pull the governing documents during due diligence.

## Build Your Advisory Team Before You Search

A Venezuelan buyer's purchase sits at the intersection of multiple specialized areas: foreign buyer tax law, OFAC compliance, estate planning without treaty protection, Florida-specific STR rules. You need professionals who have done this before.

The team you need: a Florida real estate attorney familiar with foreign buyer ownership structures and Latin American cross-border cases; a cross-border CPA who handles US income and estate tax for Venezuelan nationals; an OFAC-experienced mortgage specialist if financing; and a local agent who knows which communities fit your strategy. At MaxLife Realty, I work with Latin American buyers regularly. [Reach out to start the conversation.](https://maxliferealty.com/contact)

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*Relocating to Orlando rather than buying an investment property? The [Complete Orlando Relocation Guide](https://maxliferealty.com/moving-to-orlando) covers neighborhoods, schools, tax savings, and what to expect from the move.*

## How to Buy Florida Real Estate as a Venezuelan Buyer

1. **Understand Where You Fit in the Venezuelan Buyer Spectrum** — Venezuelan buyers in Florida are not one profile — they span a wide range of legal and financial situations. A Venezuelan-American citizen who has lived in Miami for 20 years faces almost no foreign-buyer complications. A permanent resident (green card holder) is close to equivalent for financing and tax purposes. A work visa holder (H-1B, L-1, E-2) can buy freely and may access conventional or foreign national mortgages. A Venezuelan national living in another country (Colombia, Spain, Panama) who wants a US investment property faces the full foreign-buyer toolkit — FIRPTA, no estate tax treaty, OFAC-related financing complications, and the SB 264 nuance. Know which profile applies to you before you begin.
2. **Clarify What Florida's SB 264 Actually Restricts** — Florida SB 264 (effective July 1, 2023) restricts real estate purchases by 'foreign principals' of specific 'foreign countries of concern,' including 'the Venezuelan regime of Nicolás Maduro.' This sounds alarming but has a narrower reach than the headline suggests. The restriction applies to individuals domiciled in Venezuela and affiliated with or controlled by the Maduro government — it targets regime-connected actors, not the Venezuelan diaspora. Venezuelan-Americans, US permanent residents, visa holders, and diaspora buyers living outside Venezuela are not 'foreign principals' under this definition. The restriction also applies to agricultural land and property within 10 miles of military installations or critical infrastructure. If you are a Venezuelan national currently domiciled in Venezuela, consult a Florida real estate attorney before proceeding. If you are part of the diaspora, this restriction almost certainly does not apply to you.
3. **Run the Full Annual Carrying Cost Before You Fall in Love With a Price** — Venezuelan buyers tend to focus on the purchase price and underestimate the ongoing cost of ownership. For a $420,000 home in Orange County: annual property taxes run $4,200–$6,500 (non-residents do not qualify for the Florida homestead exemption); homeowners and wind insurance has risen sharply since 2022, budget $3,000–$5,500/year depending on construction year, roof type, and flood zone; flood insurance is separate and mandatory in many zones. If you are buying an investment property or planning to rent short-term, add full-service property management at 15–25% of gross rental revenue. A well-run investment property near Disney can generate $35,000–$50,000/year in gross STR revenue, but management, taxes, insurance, and maintenance reduce that significantly. Run the complete number before you make an offer.
4. **Understand Your Financing Options** — Your financing access depends entirely on your immigration and residency status. US citizens and permanent residents access conventional mortgages with standard terms. Work visa holders (H-1B, E-2, L-1, O-1) can typically access conventional loans with 10–20% down and a valid SSN. Venezuelan nationals — citizens of Venezuela living outside the US — face an additional hurdle: OFAC (Office of Foreign Assets Control) Venezuela sanctions complicate traditional bank underwriting due to compliance reviews. Many conventional and regional lenders decline Venezuelan national applicants not because of the buyer's personal conduct, but because of the internal compliance burden. The practical paths: all-cash purchase (the dominant approach — historically 90% of Venezuelan buyers have purchased cash), or private/bridge lenders who use asset-based underwriting rather than income verification and who have OFAC compliance programs in place. If financing, work with a mortgage broker who specifically handles OFAC-country nationals, not a general foreign national lender.
5. **Understand FIRPTA Withholding When You Eventually Sell** — FIRPTA (Foreign Investment in Real Property Tax Act) requires the buyer's title company to withhold 15% of the gross sale price and remit it to the IRS when a foreign national sells US real estate. On a $420,000 sale, that is $63,000 withheld at closing regardless of your actual gain or even whether you made a profit. You file a US non-resident return (Form 1040-NR) and the IRS refunds the excess over your actual tax liability. The process takes 6–12 months. FIRPTA applies to non-resident aliens; it does not apply to US citizens, permanent residents, or non-residents who sell a primary residence under the principal residence exemption. If you have become a US resident since purchasing, confirm your FIRPTA status with a cross-border CPA before you sell.
6. **Address the Estate Tax Gap — There Is No Treaty** — This is the most critical financial planning point for Venezuelan nationals purchasing US real estate. Unlike the UK, Canada (partially), or France, Venezuela has no US estate and gift tax treaty. The income tax convention signed in 1999 does not cover estate taxes. That means Venezuelan nationals who are non-resident aliens are subject to the standard non-resident alien US estate tax rules: only a $60,000 exemption on US-situs assets, compared to $13.6 million for US persons in 2026. On a $420,000 Florida property held personally, nearly $360,000 is potentially exposed to US federal estate tax at rates up to 40% — approximately $144,000 in potential tax. The solutions: hold the property through a properly structured entity (Florida LLC, or foreign corporation), purchase US life insurance to cover the liability, or establish an irrevocable trust. Each structure has different cost and complexity tradeoffs. This must be set up with a US estate attorney before closing — restructuring after purchase is possible but more expensive and complicated.
7. **Build Your Cross-Border Advisory Team Early** — A Florida real estate purchase at the intersection of Venezuelan diaspora status, OFAC considerations, FIRPTA, and estate tax exposure requires professionals who know all four areas. You need: a Florida real estate attorney familiar with foreign buyer ownership structures and estate tax planning; a cross-border CPA who handles US income and estate tax for Latin American nationals; an OFAC-experienced mortgage specialist if financing; and a local agent who knows which communities fit your use case — investment near Disney, established international neighborhood for lifestyle use, or master-planned community for a long-term household base. At MaxLife Realty, I work with Latin American buyers regularly and can connect you with professionals who handle Venezuelan buyer situations specifically. The earlier in the process you assemble this team, the fewer expensive surprises you encounter at closing.

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Source: "What Venezuelans Need to Know Before Buying Property in Florida" by Ryan Solberg, Florida real estate broker (BK3354351), MaxLife Realty, https://maxliferealty.com/blog/venezuelans-buying-florida (last updated 2026-05-18). Content may be quoted with attribution to MaxLife Realty.