The pitch in 30 seconds
Florida is the most tax-efficient first-world domicile available to a US person. Zero state income tax, zero state estate tax, and a constitutional homestead exemption that shields the equity in your primary residence from most creditors with no dollar cap — only acreage limits. The catch is that establishing Florida residency is the easy part; surviving an audit by your former state (New York, California, Connecticut, Massachusetts, Illinois) is the harder one. The 183-day rule belongs to the state you are leaving, not the state you are joining.
For UHNW families, Florida is now also the most concentrated US market for $10M+ residential transactions: 361 ultra-luxury closings in South Florida in 2025, the second-highest annual total on record.
Who Florida is for
US citizens and green-card holders leaving high-tax states for permanent relocation; tri-state hedge fund and private equity principals consolidating GP-level carried interest under a domicile with no state income tax; family offices building a Miami or Palm Beach hub; founders preparing for a liquidity event. The state has also become a serious second-passport-equivalent for Latin American principals using EB-5 or E-2 visas to anchor a US footprint.
Where Florida is the wrong answer: anyone keeping a working office, family, voter registration or material assets in their former state. Domicile is decided on facts, not on a Florida driver's licence.
The residency programme — step by step
Florida is not a programme — it is a domicile change. The work is procedural and evidentiary:
- Day 0 (move-in): take occupancy of your Florida primary residence; document the date.
- Within 60 days: apply for a Florida driver's licence; register vehicles; register to vote in Florida; file a sworn Declaration of Domicile (Fla. Stat. §222.17) with the county clerk.
- Before March 1 of the year following purchase: file the Homestead Exemption (DR-501) with the county property appraiser to lock in the constitutional protection and the Save Our Homes 3% annual assessment cap.
- Tax-year discipline: spend the majority of the year in Florida; spend fewer than 183 days in any single other state. Keep a contemporaneous day-count log — this is what wins an audit.
- Cut the old ties: close out-of-state safe deposit boxes, club memberships, professional licences where possible, primary banking relationships. Move the family physician and the dentist.
For non-US nationals, the visa layer (EB-5 at $800,000–$1.05M, E-2 from a treaty country, O-1 for extraordinary ability) is solved before any of the above.
The real estate market in 2026
Demand for ultra-prime is concentrated in five micro-markets: Miami Beach (Indian Creek, Star Island, La Gorce), Palm Beach (North End and Estate Section), Naples (Port Royal, Old Naples), Coral Gables (Gables Estates, Cocoplum) and the Jupiter Island/Hobe Sound corridor.
- Miami Beach: ~$1,292/sq ft avg, with waterfront trophy stock clearing $3,000–6,000/sq ft.
- Coral Gables: median $1.3M, avg ~$960/sq ft; Gables Estates and Cocoplum trade independently at $1,500–3,000/sq ft.
- Palm Beach: projected ~426 sales at $10M+ in 2025, near the 2021 peak of 444.
- Naples: an April 2025 beachfront estate sold for $133M — the most expensive US residential transaction of the year.
Insurance has become a material line item — windstorm cover for waterfront homes is now a number to underwrite, not an afterthought.
Taxes — what you actually pay
- Federal income tax: unchanged; you remain a US person and a federal taxpayer.
- State income tax: 0%. No tax on wages, carry, distributions, interest, dividends, or capital gains. [1]
- State estate or inheritance tax: 0%. Federal estate tax still applies above the federal exemption.
- Sales tax: 6% state + up to 1.5% county.
- Property tax: county-level, typically 1.0–1.5% of assessed value. The Homestead Exemption reduces taxable value by $50,000 and the Save Our Homes cap limits annual assessment growth to 3% on the homesteaded portion. [2]
- Documentary stamp tax on deeds: $0.70 per $100 of consideration outside Miami-Dade ($0.60 in Miami-Dade).
Honest risks
- Audit risk from the state you left. New York and California are aggressive. They look at where your dog lives, where your art collection is insured, where your dentist sits. Your domicile change has to be real and documented for a clean three-year audit window.
- Hurricane and insurance exposure. Citizens Property Insurance is now the insurer of last resort for many waterfront properties; private market premiums have tripled in some zip codes since 2021. Underwrite cash carry, not just purchase price.
- Federal estate tax still applies. Florida solves state-level inheritance, not the federal regime. Estate planning (SLATs, GRATs, dynasty trusts) is still the work.
- Lifestyle homogeneity at the top. Palm Beach, Indian Creek, Port Royal and Jupiter Island are tight social ecosystems. Entry is by introduction, not by chequebook alone.
Who Camille introduces
- Real estate agent — separate specialists for Miami Beach / Coral Gables, for Palm Beach and the Island, and for Naples / Port Royal. Camille routes by micro-market.
- US tax counsel — domicile change specialist (CPA + JD), running the audit defence file from day one.
- Private banker — JPMorgan Private Bank, Goldman Sachs PWM, Citi Private Bank, Northern Trust — bracket-appropriate.
- Immigration counsel — for EB-5, E-2 or O-1 candidates.
- Insurance broker — windstorm and excess liability, mandatory for waterfront stock.
CTA
Want the introductions? Send a five-line brief — current state of domicile, target Florida market, household size, US tax status, target move date. Reply within 48 hours.
Sources: [1] Florida Constitution, Article VII §5 (no personal income tax). [2] Florida Constitution, Article X §4 (homestead); Fla. Stat. §196.031 (homestead exemption); Fla. Stat. §222.17 (Declaration of Domicile). Ultra-luxury volume figures: Douglas Elliman / Knight Frank Wealth Report 2025. Insurance market data: Florida Office of Insurance Regulation, 2025. Always verify with US tax counsel before changing domicile.
This guide is editorial, not legal advice. We make the personal introductions to your future banker, lawyer and real estate agent.