As the election approaches, a rising number of affluent Americans are planning to leave the country. Attorneys and advisors working with family offices and high-net-worth individuals report a sharp increase in requests for second passports and long-term residencies abroad. This trend, which began during the COVID-19 pandemic, has intensified as fears of political and social unrest loom, regardless of the election outcome.
Demand for second citizenship is at an all-time high. Wealth advisors indicate that wealthy Americans now represent the largest client base for firms like Henley & Partners, specializing in international migration.
A recent survey by Arton Capital revealed that 53% of American millionaires are more inclined to consider leaving the U.S. post-election, irrespective of the victor. Younger millionaires are particularly interested in obtaining golden visas through residency-by-investment programs.
While concerns over political and social unrest drive this trend, there are other motivations for the wealthy. Many are considering relocation for retirement to more affordable, warmer countries or to be closer to family abroad. Additionally, diversifying citizenship is seen as a way to mitigate risks associated with domestic instability.
JUST IN – A growing number of wealthy Americans are making plans to leave the country in the run-up to Tuesday’s election, with many fearing political and social unrest regardless of who wins, according to immigration attorneys — CNBC
— Insider Paper (@TheInsiderPaper) November 1, 2024
Record numbers of wealthy Americans are making plans to leave the U.S. after the election @CNBC. NOT ONE WILL LEAVE https://t.co/idQVRDXSyY
— mark toner (@tonerisms) November 1, 2024
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