Affluent Americans are exploring golden visa programs that allow foreign citizenship or residency through sufficient investment. The reason? Donald Trump’s arrival as US President is coming soon. Henley & Partners, a leader in citizen-to-investment, saw a 400 percent increase in inquiries from American citizens during election week, CNN reports.
Dominic Volek, head of private clients at Henley & Partners, described the trend as a strategy of “alternativeness”. He said it’s like “an insurance policy”, with most applicants wanting a backup plan rather than a permanent relocation.
Arton Capital, another consultancy, saw a five-fold increase in inquiries the day after the election results. CEO Armand Arton commented, “A very small percentage of these people are actually relocating, but they all want the option as a Plan B.”
For Golden Visa seekers, European countries are the most popular destinations. Portugal’s Golden Residence Permit program is known for its affordability and quick path to EU citizenship. With a minimum investment of €250,000 in cultural heritage, applicants can secure residency and, after five years, apply for citizenship.
The ultra-wealthy often favor Malta and Austria. Malta offers immediate citizenship upon a non-refundable payment of €600,000 with additional investment in real estate and charitable donations. Austria typically requires an investment of at least €3.5 million in local businesses, in exchange for citizenship.
Historically, golden visa programs attracted individuals from politically unstable countries, but according to Mr. Volek, U.S. demand increased during the pandemic as travel restrictions hit wealthier families.
While the Golden Visa trend is driven by the wealthy, many ordinary Americans are also considering moving abroad. For many people the motivation is not luxury but security. Flannery Foster, an American living in Spain, helps others navigate the process of moving abroad. “I’m talking to people (whose) lives are in danger,” she said, pointing to women, people of color and families with LGBTQ+ members.
These individuals often wish to retain their US citizenship. “There’s a feeling that, ‘I’m going because I have to go, and I want to make sure my vote still counts,'” Ms. Foster said.
Social media discussions about the transfer have also gained momentum, especially among those who are unable to purchase a Golden Visa. A YouTube video titled “Countries for Americans who want to leave the US” has received over half a million views, with many people commenting on their plans to live abroad.
