A new wave of wealthy Americans, especially young tech entrepreneurs and financial professionals, is following.”golden visas“Ahead of the 2024 presidential election between Vice President Kamala Harris and former President Donald Trump, NBC News reports.

Immigration lawyers say there has been an unprecedented increase in foreign residency applications, especially among emerging millennials and millennials. generation Z Investors are worried about political instability regardless of the winner of Tuesday’s results.

This rush for foreign citizenship marks a sharp departure from previous election cycles. While wealthy individuals have historically threatened to leave the country during contentious political periods, immigration experts say this time is different, with clients actively initiating the complex process of securing their right to reside abroad.

According to a recent survey by Arton Capital, 53 percent of American millionaires say they are more likely to leave the United States after the election, regardless of the outcome. This trend is especially evident among young millionaires; 64 percent of 18- to 29-year-olds are “very interested” in residency-by-investment programs.

This trend represents a jarring shift in how America’s elites view citizenship, transforming it from a fixed national identity to a strategic asset. Spherical COVID-19 The pandemic accelerated this evolution as travel restrictions highlighted the value of multiple passports.

Now wealthy young Americans increasingly treat citizenship rights like financial investments, diversifying across countries to hedge against political and social risks.

While European countries such as Portugal, Malta, Greece, Spain and Italy remain the best options, recent policy changes have increased the hurdles. Portugal has suspended its popular real estate investment category after foreign buyers increased property prices in the Algarve region. Italy has doubled its flat tax on wealthy foreigners to 200,000 euros ($217,000) in response to concerns about market disruption in luxury real estate hubs such as Milan.

Malta’s program, which requests investments of $1-1.2 million, European Union (EU) citizenship. Despite ongoing legal challenges EUImmigration lawyers expect Malta to continue the program that has become a cornerstone of the country’s economy. Those looking for more affordable options are turning to Caribbean countries such as Antigua and Barbuda, where citizenship through real estate investment starts from $300,000.

The application process itself has become increasingly complex. Prospective immigrants are required to pass extensive background checks, provide evidence of origin of wealth and demonstrate significant liquid assets beyond investment commitments. Processing times now extend from several months to years; some countries impose annual quotas to manage the influx of wealthy applicants.

Beyond immediate election concerns, immigration lawyers say their clients increasingly cite fears of political violence, rising social tensions and economic instability. Young investors, especially from the technology sector, see multiple citizenship as a strategic necessity in an uncertain world. Some have expressed concerns about proposed wealth taxes and rising government debt, while others worry about the broader consequences of deepening social divisions.

For those seeking alternatives to million-dollar investments, some countries offer pathways to citizenship through retirement visas or ancestral connections, especially in European countries such as Ireland and Italy.

But these programs face growing backlogs as more Americans investigate their eligibility. The increase in applications has led many countries to increase processing fees and tighten documentation requirements.

This phenomenon has sparked debates about the long-term effects of investment migration programs in destination countries. Critics argue that these policies effectively commodify citizenship and potentially undermine social cohesion. Supporters say wealthy immigrants bring vital capital and expertise to their new homes and often make significant contributions to local economies.

With a new surge in filings expected after the election, some wealthy Americans are not only watching the political landscape unfold but are actively planning their exits.