Canadians owning property in Florida

 There are generally no restrictions on Canadians owning property in Florida, just like other foreign nationals. However, there are some considerations for Canadian buyers, including: 

• Obtaining a U.S. Tax ID:

  You'll need an Individual Taxpayer Identification Number (ITIN) to file U.S. taxes. 
• Understanding U.S. Tax Laws:

  There are U.S. tax implications for Canadians owning property, including capital gains taxes on sale and potential withholding taxes for rental income. 
• Mortgage Requirements:

  Canadian buyers may have different mortgage requirements than U.S. residents. 
• Insurance:

  Insurance costs and availability can be a concern, especially in high-risk hurricane areas. 
• Canadian Tax Reporting:

  Canadians with foreign property, including U.S. real estate, have additional income tax reporting requirements when the cost of their foreign property exceeds CAD $100,000.