A wave of wealthy Americans may soon be arriving in Europe as Democratic voters seeking safety abroad fear another Donald Trump administration.
Since the election, US citizens’ interest in so-called “golden visas” has seriously increased, according to consultants who assist the wealthy in their migration.
Golden visas enable individuals to efficiently purchase foreign citizenship or residency through substantial investments, such as in startups, government bonds, or real estate.
Since the election, US citizens’ interest in “golden visas” has gone up significantly.
Even though only a small portion of these individuals are moving, they all want the option as a backup plan.
Elites from emerging markets, such as those from Nigeria, South Africa, China, India, and the Philippines, have historically been drawn to residence and citizenship by investment programs.
These people often face greater levels of political and economic instability back home or desire a second passport in order to travel without a visa.
Before the pandemic, when COVID lockdowns prevented Americans from visiting Europe without a European passport—even if they had second homes on the continent or could take a private jet—they were not a significant source of demand for golden visas.
According to a Henley & Partners report released earlier this year, demand has been increasing ever since, with growing social tension and political division in the US also fueling interest.
Wealthy Americans Considering Leaving The Country. They Are Acting Now
US citizens have been the company’s single largest applicant cohort for investment migration programs since 2020.
American inquiries regarding golden visas have risen 33% so far this year compared to the same time last year, with European programs being the most sought-after.
Because it is reasonably priced and requires a minimum investment of €250,000 ($265,000) in support of the arts or national cultural heritage, Portugal’s Golden Residence Permit Program is the most popular.
Additionally, it provides a pathway to EU citizenship after just five years, compared to seven to ten years in nations like Greece, Spain, and Italy, which are also well-liked by Americans.
According to Volek, the super-rich, or those with a net worth of $50 million or more, prefer Malta or Austria because they provide quick routes to citizenship at a significantly higher price.
In fact, Americans are “serious” about plans to relocate their families.
Since most Americans are unable to obtain golden visas, there is a lot of discussion on social media about alternative options for international relocation.
Credit: CNN
