A significant trend is emerging among affluent Americans as they consider leaving the United States before the upcoming election. Many are concerned about potential political and social unrest and are seeking second passports or long-term residency options abroad.
Immigration attorneys and advisors have seen a surge in demand from high-net-worth individuals looking to secure their futures outside the U.S. Wealthy Americans now make up the largest client base for firms like Henley & Partners, accounting for 20% of their business. The number of Americans planning to move abroad has increased by at least 30% compared to the previous year.
Political fears, including concerns about violence and instability, are driving this migration trend. The desire for a "Plan B" has become prevalent among the ultra-wealthy, who view citizenship in a single country as a concentrated risk.
Europe remains a top choice for Americans seeking residency or second citizenship, with countries like Portugal, Malta, Greece, Spain, and Antigua being particularly appealing. However, some European countries are making changes to their golden visa programs due to criticism and rising property prices. Alternative citizenship options, such as lineage citizenship and retirement visas, are also available. The Caribbean, specifically Antigua and Barbuda and St. Lucia, is gaining traction as well.
Prospective applicants should be prepared for a lengthy process, as the approval timeline can extend from several months to over a year.
The motivations driving this trend reflect broader societal concerns, and the choices made by these individuals could reshape the dynamics of wealth and investment across borders. The ongoing political climate in the U.S. will likely play a crucial role in determining the future of this migration trend.