Wealthy Americans eye 'golden visas' post-Trump's election win
After Donald Trump's recent presidential election win, wealthy Americans are increasingly looking to get "golden visas" to Europe. The visas provide foreign residency or citizenship in exchange for investments in real estate or government bonds. The demand is especially high among citizens of Democratic-leaning states, migration consultants said. Henley & Partners, a citizenship-by-investment program firm, saw a nearly 400% spike in US nationals' inquiries during election week as compared to the previous week.
'Golden visas' seen as insurance policy by wealthy Americans
Applications for these programs have increased by 26% this year over last year. Arton Capital, another consultancy firm, received over 100 inquiries the day after Trump's election win—five times their daily average. Dominic Volek of Henley & Partners said most Americans see these options as an "insurance policy" rather than planning permanent relocation. Armand Arton of Arton Capital anticipates continued demand from the US over the next six months.
US families express concern over future direction
Immigration attorney Reaz Jafri said he immediately received inquiries from families wanting EU citizenship after Trump's victory announcement. He said these families are not against America but are worried about where it is headed. Traditionally, residence- and citizenship-by-investment schemes drew elites from emerging markets such as India and China. However, since the pandemic, rich Americans have been increasingly involved due to political divides and social tensions.
Portugal's Golden Residence Permit program gains popularity
Portugal's Golden Residence Permit Program is popular for being affordable and paving the way to EU citizenship after five years. Malta and Austria offer faster but pricier options for the ultra-wealthy. For less wealthy Americans, alternative relocation routes are trending on social media platforms like YouTube and Reddit. Flannery Foster, an American in Spain helping others settle abroad, noted that vulnerable groups like women and LGBTQ+ families are considering these options.
Caribbean nations, Italian village attract American citizens
Citizenship by descent or private requests for citizenship based on extraordinary skills or contributions are also being considered by some US citizens. Caribbean nations offer more affordable citizenship programs starting around $250,000. An Italian village named Ollolai on Sardinia is cashing in on this interest by offering ultra-cheap homes priced as low as $1 to attract Americans seeking a balanced lifestyle away from global politics.
