Miami Property Advisor for Latin American Buyers: A Delano Residences Guide

Quick answer: Latin American buyers can generally purchase pre-construction condos in Miami, with limited exceptions under Florida law. As a Miami property advisor, Carlos Olivares at BHHS EWM Realty guides buyers from Colombia, Brazil, Mexico, Venezuela and Argentina through Delano Residences, from representation and tax planning to wires and closing, in English and Spanish with a full Portuguese site.

Miami has long drawn buyers from across Latin America, and Delano Residences & Hotel Miami at 400 Biscayne Boulevard is one of the projects many of them ask us about. This guide explains how we work as a Miami property advisor for Latin American buyers: what to do first, how the money moves, and where mistakes tend to happen. It is general information, not tax or legal advice.

What does a Miami property advisor do for Latin American buyers?

We are buyer’s agents only. Carlos Olivares and Lina Rivera at Berkshire Hathaway HomeServices EWM Realty never represent the developer, PMG, so our advice is independent. Our fee is paid by the developer at closing, which means the service costs you nothing extra.

In practice, we:

• Explain the contract and the deposit schedule in plain language, in English or Spanish
• Compare floor plans, floors and exposures against your goals
• Coordinate with real estate attorneys, tax professionals and your bank
• Track every deposit deadline so nothing is missed
• Stay with you from first conversation through closing

Can Latin American buyers purchase pre-construction in Miami?

In most cases, yes. Florida does not require US citizenship or residency to buy, and international buyers regularly purchase here. There is one important exception to check first.

Florida’s SB 264 restricts certain purchases by “foreign principals,” meaning people who are domiciled in a listed country of concern, such as Cuba or Venezuela, and who are not US citizens or permanent residents. As summarized by Bilzin, the law generally bars those buyers from acquiring property within 10 miles of a military installation or critical infrastructure facility. It allows one residence of under two acres, more than five miles from a military installation, for a buyer who holds a non-tourist visa or asylum. Downtown Miami is close to ports, airports and other infrastructure, so ask your attorney how the rules apply to a specific address and to your own situation.

The restrictions are tied to the listed countries, so they generally do not apply to buyers from Colombia, Brazil, Mexico, Argentina or other countries whose purchase does not involve a listed country. For everyone, the real work is in the details: representation, how you hold title, source of funds and the timing of each wire. Our broader walkthrough is in how to buy a pre-construction condo in Miami as an international buyer.

What does the purchase process look like from abroad?

1. Choose your advisor first. Once you register directly with the developer’s sales team, it is often too late to add representation.
2. Confirm you are eligible to buy. If you are domiciled in a country of concern under SB 264, speak with a Florida real estate attorney before you reserve a unit.
3. Review the product remotely. Browse the floor plans and the views by floor before you narrow down a line and a level.
4. Read the contract with an attorney. Pay attention to escrow terms, assignment rights and default provisions.
5. Decide how to hold title. Your attorney and CPA should weigh in before you sign, not after. Delano does not allow assignment of the contract to a third party, and moving it into your own company later should be planned with your attorney, so decide at signing.
6. Plan each wire and track each deposit. Build in time for your bank and for compliance questions, and note the date or construction event that triggers each payment.
7. Close and activate ownership. Closing involves identity, source-of-funds and entity documents, and owners can then enroll in the Accor ownership benefits.

What should you prepare before sending money?

Item	Why it matters
Passport and a secondary ID	Identity verification at contract and at closing
Source-of-funds documents	Banks and closing agents ask where the funds come from, usually bank or investment statements
Entity documents, if buying through a company	Needed if the purchase will not be in your personal name
A wire plan for each deposit date	Wires from Latin American banks can take 3 to 10 business days
A real estate attorney and a cross-border tax professional	Structure and tax questions are easier to solve before signing; we refer clients to specialists

How do deposits work at Delano?

Delano uses a 10/10/10/10/60 structure, so 40% is paid before closing and 60% at closing:

• 10% at contract
• 10% in October 2026
• 10% at groundbreaking (estimated June 2027)
• 10% one year after groundbreaking (estimated June 2028)
• 60% at closing (estimated late 2030 to early 2031)

Florida condominium law requires pre-construction deposits to be held in escrow. For the full milestone breakdown, see the Delano Residences Miami payment plan.

What US taxes should a foreign buyer plan for?

The purchase itself is usually the simplest part. The taxes that tend to surprise foreign owners come later:

• FIRPTA at resale. FIRPTA requires a buyer to withhold 15% of the amount realized when the seller is a foreign person. When you buy new construction from a US developer, no FIRPTA withholding applies to your purchase, because the seller is a US entity. It comes into play when you later sell the unit. Lower or zero rates can apply where the next buyer will live in the home (price limits apply), and you can ask the IRS for a withholding certificate to reduce the amount withheld.
• US estate tax. Nonresident aliens receive only a $60,000 exemption on US property, with rates up to 40%, according to The Tax Adviser. A US LLC generally does not solve this, while a foreign company can, with trade-offs of its own. This is the main reason the question of how to hold title belongs before you sign.
• Rental income. Gross US rents paid to a foreign owner are generally subject to 30% withholding unless the owner elects to be taxed on net income, as explained in IRS Publication 515. This matters for D Collection owners who use the hotel rental program.
• Federal reporting on all-cash purchases by companies or trusts. A FinCEN reporting rule was vacated by a federal court in March 2026 and is under appeal, so ask your closing agent what applies on your closing date.

We are not tax or legal advisors. We coordinate with attorneys and CPAs who work on cross-border real estate, including professionals who understand the rules in your home country.

Why use a buyer’s agent instead of the developer’s sales team?

• The sales team works for the developer and is paid to sell at the developer’s price
• An independent agent can tell you when a deposit structure or contract term is unfavorable
• Your advisor can speak your language and explain what each clause means
• You get an honest comparison of Delano against other projects, not only one

Which Delano option fits?

	D Collection	D Residences
Floors	20 to 47	49 to 75
Homes	266	155
Short-term rental program	Eligible	Not eligible
Starting prices	Suites from about $800,000	1 bedroom from $1,460,000

The D Collection suits buyers who want rental flexibility and a lower entry price. The D Residences suit buyers who want a private home on the upper floors. Our Collection vs. Residences guide compares them in detail.

Spanish and Portuguese resources

The complete buyer’s guide is available in Spanish at /es/delano/ and in Portuguese at /pt/delano/, with matching floor plan galleries at /es/planos/ and /pt/plantas/. If you would rather talk it through, contact us for a free 30-minute consultation. You can also read the full Delano Residences Miami buyer’s guide in English.