What we do

The Global Business Alliance Advisory Group is an informal networking group for GCAAR members interested in promoting international real estate and better serving our clients. The Global Alliance will support our members through education, programming and networking as they work to build global business opportunities within the District of Columbia and Montgomery County.

The Global Alliance will be acting as a REALTOR®-driven community organization. The group will help REALTORS® build partnerships with globally minded businesses, mortgage brokers, attorneys and other local entities, positioning GCAAR as the voice for global real estate in the local market.

Membership

For the inaugural year, members will launch this effort and put together a framework for future years.

Chair: Jackie Bennett ​
Vice chair: Ruby Garcia ​
Board liaison: Monique van Blaricom
Staff liaison: Kathleen Dartez

2025 focus

In 2025, members will focus on building the membership and activities and will meet, as needed.

Global Business Alliance Advisory Group Guide

This guide is designed to equip you—the real estate professional—with key tools, resources, and insights to empower you to support your clients in global real estate transactions confidently and compliantly.

Every country has unique laws governing foreign ownership of real property. Some limit land purchases by non-citizens, while others require local partners or government approvals. NAR, through its cooperating partners, offers guidance on practices in countries throughout the world.

NAR: Real Estate Practices Around the World

Key tip: Always work with a trusted international REALTOR® partner or Certified International Property Specialist (CIPS) designee in the country where your client wants to buy or sell. Find a CIPS designee.*

*To update your CIPS designee profile, please reach out to cips@nar.realtor.

Become a Certified International Property Specialist (CIPS) and become part of an exclusive global network of professionals.

Benefits include:

  • Global marketing strategies and tools for expanding your business
  • Gain essential knowledge of business and cultural differences allowing you to become a trusted advisor to your clients navigating the global market
  • Exclusive referrals and networking
  • Subscription to Global Perspectives newsletter

Learn more about the CIPS designation.

It’s important to find out about the ownership structures abroad – fee simple, leasehold or corporate holdings? – as well as the tax implications, such as reporting requirements foreign transaction taxes and capital gains.

Recommended resources:

Many countries require cash purchases from foreign buyers and do not allow financing. Some offer local financing, but often with stricter terms.

Alternatives include:

  • Cross-border lenders
  • Home equity loans from U.S. properties

Be mindful of currency exchange risks, which may affect cost and repayment.

Five ways to finance a home purchase overseas

Money services business (MSB) Information Center (includes foreign currency exchange services)

Visit this website for more information.

Metric conversions

  • Use this quick formula: 1 square meter = 10.764 square feet. To convert, multiply the number of square meters by 10.764.

U.S. Treasury currency exchange rates converter

Moving outside of the U.S.

Moving abroad checklist, U.S. News & World Report

Important considerations include:

  • Vehicle import rules, emissions compliance, taxes
  • Licensed international movers, customs paperwork
  • School enrollment, pet relocation, residency permits

U.S. Department of State resources for U.S. citizens:

 

Moving to the U.S. from abroad

 What are the requirements for foreign investors to purchase a home in the DMV area? 

Foreign investors generally face no citizenship restrictions for buying real estate in the DMV area. An individual holding a green card (lawful permanent resident); an individual having temporary status in the U.S. and even individuals holding no status may be eligible to purchase real property in the U.S. An individual wishing to purchase real estate in the U.S. would typically be required to provide a valid passport, proof of funds, a U.S. tax ID (ITIN), and they must have the ability to obtain financing (if not paying cash). Working with a specialized REALTOR®, a tax advisor, and an immigration attorney is recommended, as lenders may have stricter requirements, including higher down payment requirements for foreign nationals. 

Documentation needed:

  • Identification: A valid foreign passport, a U.S. visa, or a government-issued ID, such as a U.S. driver's license, will be required.

  • Proof of funds: Bank statements or financial records are necessary to demonstrate the ability to purchase the property, whether in cash or as a down payment.

  • Tax Identification Number: You will need an  Individual Taxpayer Identification Number (ITIN) from the IRS to facilitate financial transactions and tax reporting.

    Financing options:

  • Cash purchase: Paying in cash is the simplest option, as it bypasses the need for a mortgage. NAR’s 2025 Profile of International Transactions in U.S. Residential Real Estate report reveals that 47% of foreign buyers paid all-cash (compared to 28% among all existing-home buyers).

  • Mortgage financing: To utilize conventional financing, you will need to have a social security number or an ITIN and be authorized to work in the U.S., meaning you have a work Visa or green card. Other options may be an FHA or VA loan or an ITIN loan. If you need a mortgage, you will need to work with a lender that specializes in loans for foreign nationals. These loans may come with more stringent terms, such as higher down payment requirements. It may be advisable to consult with a REALTOR® holding the Certified International Property Specialist (CIPS) designation, a tax advisor, or an attorney for additional information.

  • U.S. Citizenship and Immigration Services information on working in the U.S.

  • Pre-approval: Obtaining a mortgage pre-approval before you begin your home search is a good idea. Your lender will be able to explain the loan products available to you, documentation that may be required, and anticipated timeframes.

Key considerations:

  • Professional guidance: Consult a REALTOR® who has experience working with foreign buyers , a tax professional, and an immigration attorney to navigate the legal and financial aspects of the transaction.
  • Taxes: Be aware of any additional taxes or fees that may apply to property ownership or transactions in the State of Maryland, the District of Columbia or the Commonwealth of Virginia. Consult with a trusted tax advisor to obtain information relevant to your purchase or intended purchase.

  • Lender requirements: Be prepared for stricter lending criteria and potentially higher down payments when financing a property as a foreign national. You should direct any questions to your lender.