A note before we start: this article is general information, not legal or tax advice. Cross-border purchases involve immigration, tax-treaty, and estate-planning details that are specific to your situation. Before you buy, consult a cross-border real estate attorney and a CPA who handles non-resident filings.
The Core RuleThere are no citizenship or residency restrictions
The United States places no restrictions on foreign nationals owning real estate. You do not need to be a citizen, a green-card holder, or even physically present in the country. A buyer from Toronto, London, Mumbai, or Mexico City can purchase, hold, rent out, and later sell North Carolina property on the same legal footing as a U.S.-born buyer. This is one reason international demand is climbing: between April 2024 and March 2025, foreign buyers purchased 78,100 U.S. homes worth $56 billion, with 44% of those buyers purchasing from abroad (National Association of REALTORS®).
What changes for a foreign buyer is not whether you can own, but a handful of practical steps: how you’re identified for tax purposes, how you finance, how you’re taxed when you sell, and how you close from another country. Let’s walk through each.
Tax IDITIN vs. SSN: how you’re identified
U.S. residents are identified by a Social Security Number (SSN). Foreign buyers who don’t qualify for an SSN use an ITIN — an Individual Taxpayer Identification Number issued by the IRS specifically so non-residents can meet U.S. tax obligations. You’ll need an ITIN to file the required tax forms tied to owning (and especially renting out or selling) property. Applying takes some lead time, so most international buyers start the ITIN process early, often with help from a CPA who handles non-resident filings.
FinancingForeign-national & ITIN mortgages
You don’t need a U.S. credit history to finance a home. Specialized foreign-national and ITIN mortgage programs exist for exactly this purpose. The main difference from a conventional loan is the down payment: lenders typically require 25% to 40% down to offset the lack of domestic credit data, and they’ll ask for documentation like an international credit reference, proof of funds, and bank statements. That said, financing isn’t always necessary — nationwide, 47% of foreign buyers pay all cash, which simplifies and speeds up the entire process.
Selling & FIRPTAFIRPTA withholding, explained simply
FIRPTA — the Foreign Investment in Real Property Tax Act — is the rule most foreign owners haven’t heard of until they sell. In plain terms: when a foreign owner sells U.S. real estate, the buyer is generally required to withhold 15% of the gross sale price and send it to the IRS at closing. It is not an extra tax; it’s a prepayment toward any capital-gains tax you might owe. If your actual tax is lower than the amount withheld, you file a U.S. return and claim a refund of the difference. Certain situations qualify for a reduced rate or a withholding certificate, which a cross-border CPA can arrange. The key takeaway: plan for FIRPTA before you list, not after.
Ongoing CostsProperty taxes apply equally
Foreign owners pay the same property taxes as everyone else — no more, no less. North Carolina’s effective property tax rate is about 0.62%, among the lower rates in the country, and the state has no estate tax. On a $338,000 home (the NC median), that’s roughly $2,100 a year in property tax. If you rent the property out, you’ll also file U.S. returns reporting that income, which is another reason to have an ITIN and a CPA in place early.
LogisticsBanking & closing from abroad
Most international buyers open a U.S. bank account to make moving funds, paying for the purchase, and handling ongoing expenses like taxes and HOA dues far simpler. And you do not have to fly in for closing day: a North Carolina purchase can close remotely through a power of attorney, with funds wired to a U.S. title company and documents executed via mobile or remote notarization. Thousands of cross-border purchases close this way every year.
Important DistinctionBuying a home does not grant residency
This is the single most common misconception, so it’s worth stating plainly: buying U.S. property does not give you a visa, a green card, or the right to live in the country. Real estate ownership and immigration status are entirely separate systems. Owning a home in North Carolina is a fantastic reason to visit and a sound investment, but if your goal involves living in the U.S. long-term, that’s an immigration question for a licensed immigration attorney — separate from the purchase itself.
At a GlanceResident vs. non-resident foreign buyer
| Resident Foreign Buyer (visa / green card, lives in U.S.) | Non-Resident Foreign Buyer (buying from abroad) | |
|---|---|---|
| Tax ID | Often eligible for an SSN | Uses an ITIN |
| Financing | May qualify for standard or ITIN loans; lower down payment possible | Foreign-national / ITIN mortgage, typically 25–40% down |
| Property tax | ~0.62% NC effective rate | ~0.62% NC effective rate (same) |
| FIRPTA on sale | Generally not subject if a U.S. tax resident | 15% withholding on gross sale price applies |
| Closing | In person or remote | Remote via power of attorney is common |
| Grants residency? | No — already has status separately | No — ownership does not confer a visa |
Roughly 56% of foreign buyers nationwide are U.S. residents on visas or as recent immigrants; the other 44% buy from abroad. Your category affects financing and FIRPTA more than anything else.
None of this is as daunting as it sounds with the right team in place. For the bigger picture on why so many international buyers choose this state, see our international buyers guide, compare what your money buys with the NC cost of living, and explore the two most international-friendly markets — Charlotte and the Triangle. When you’re ready, get in touch with Kim and she’ll connect you with cross-border lenders, attorneys, and CPAs who do this every day.