Affluent Americans are exploring golden visa programmes that allow foreign citizenship or residency through substantial investments. The reason? The imminent arrival of Donald Trump as the US President. Henley & Partners, a pioneer in citizenship-by-investment, noted a 400 per cent spike in inquiries from US citizens during election week, CNN reported.
Dominic Volek, head of private clients at Henley & Partners, described the trend as a strategy for “optionality.” He said it was similar to “an insurance policy,” with most applicants seeking backup plans rather than permanent relocation.
Arton Capital, another consultancy, observed a fivefold increase in inquiries the day after the election result. CEO Armand Arton remarked, “A very small percentage of these people are actually relocating, but they all want to have the option as a Plan B.”
For those seeking golden visas, European countries are the most popular destinations. Portugal's Golden Residence Permit Programme stands out 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 favour Malta and Austria. Malta offers immediate citizenship for a €600,000 non-refundable payment, with additional investments in real estate and charitable donations. Austria requires investments of at least €3.5 million, typically in local businesses, in exchange for citizenship.
Historically, golden visa programmes attracted individuals from politically unstable countries, but US demand surged during the pandemic as travel restrictions affected wealthy families, according to Mr Volek.
While the golden visa trend is driven by the wealthy, many ordinary Americans are also considering a move abroad. For many, the motivation is not luxury but safety. Flannery Foster, an American living in Spain, helps others navigate the process of moving overseas. “I've been talking to people (whose) lives are at risk,” she said, pointing to women, Black individuals, and families with LGBTQ+ members.
These individuals often want to keep their US citizenship. Ms Foster explained, “There is a sense that, ‘I'm leaving because I have to, and I want to make sure that my vote still counts.'”
Social media discussions about relocating have also gained momentum, especially among those unable to afford golden visas. A YouTube video titled “Countries for Americans Who Want to Leave the US” has over half a million views, with many commenting on their plans to live abroad.
