Wealthy Americans are exploring golden visa programs that allow foreign citizenship or residency through significant investments. Why? Donald Trump’s arrival as US President is imminent. Henley & Partners, a pioneer in citizenship by investment, noted a 400 percent increase in questions from US citizens during election week: CNN reported.

Dominic Volek, head of private clients at Henley & Partners, described this trend as a strategy towards “optionality”. Noting that most applicants are looking for backup plans rather than permanent relocation, he said it’s like an “insurance policy.”

Another consultancy, Arton Capital, observed a fivefold increase in investigations the day after the election result. CEO Armand Arton noted: “A very small percentage of these people actually relocate, but they all want to have this option as Plan B.”

The most popular destinations for those seeking a golden visa are European countries. Portugal’s Golden Residence Permit Program stands out with its affordable price and fast path to EU citizenship. Applicants can obtain a residence permit by investing a minimum of 250,000 Euros in cultural heritage and apply for citizenship after five years.

The ultra-rich generally prefer Malta and Austria. Malta offers instant citizenship in exchange for a non-refundable payment of €600,000, together with additional investments in real estate and charitable donations. Austria generally requires an investment of at least €3.5 million in local businesses in exchange for citizenship.

Historically, golden visa programs have attracted individuals from politically unstable countries, but U.S. demand has increased during the pandemic as travel restrictions impact wealthy families, according to Mr. Volek.

While the golden visa trend is driven by the wealthy, many ordinary Americans are also considering moving abroad. For most people, the motivation is security, not luxury. Flannery Foster, an American living in Spain, helps others move abroad. “I’m talking to people whose lives are at risk,” he said, pointing to women, people of color and LGBTQ+ families.

These people often want to retain their US citizenship. “There’s a feeling of ‘I’m leaving because I have to leave and I want to make sure my vote still counts,'” Ms Foster explained.

Social media discussions about relocation have also gained momentum, especially among those who cannot afford a golden visa. A. YouTube video “Countries for Americans Looking to Leave the US” has over half a million views, with many commenting on their plans to live abroad.