MIAMI—If you look around, you'll notice TD Bank stores springing up on many prime commercial real estate corners. And it's not just TD Bank—other Canadian banks like Bank of Montreal, are also beefing up their presence in southern Florida.

“A significant draw for Canadian banks is the international exposure that South Florida offers,” Frank Gonzalez, CPA/CFF, principal-in-charge of the Audit Department and head of the Financial Institutions and SEC practices at MBAF in Miami, tells GlobeSt.com. “Many Canadian banks want to not only deal domestically as a community bank, but also take advantage of the intentional trade and business that is available through South Florida.”

As Gonzalez sees it, this is the gateway towards providing banking services, especially international trade financing, to companies in Latin America and the Caribbean. He rightly points out that South Florida is considered the best place to have a regulated bank without actually having to be located in those countries.