Following Donald Trump’s decisive victory in the recent US presidential election, there has been a significant increase in interest in golden visa programs among wealthy Americans. These programs offer foreign citizenship or residency in exchange for significant investments.

Henley & Partners, a leading citizenship-by-investment firm, saw a staggering 400 percent increase in inquiries from US citizens during election week, according to a report by CNN. Dominic Volek, the firm’s head of private clients, described the trend as an “optionality strategy” and likened it to an “insurance policy.” Most applicants are looking for backup plans rather than permanent relocation.

European countries continue to be the most preferred destinations for those who want to obtain a golden visa. Portugal’s Golden Residence Permit Program is particularly preferred due to its affordability and accelerated path to EU citizenship; It grants residence permits with a minimum investment of €250,000 in cultural heritage and provides eligibility for citizenship after five years.

The ultra-rich are flocking to Malta and Austria for their golden visa offers. Malta provides instant citizenship in exchange for a non-refundable payment of €600,000, along with additional investments in real estate and charitable contributions. On the other hand, citizenship in Austria generally requires a minimum investment of 3.5 million Euros in local businesses.

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

Although these programs appeal primarily to the wealthy, many ordinary Americans are also considering relocation out of safety concerns rather than luxury. Flannery Foster, an American who lives in Spain and helps others with relocation, shared that she frequently encounters people facing life-threatening situations, including women, people of color, and LGBTQ+ families.

Many of these individuals want to retain their U.S. citizenship, and Foster notes, “There’s a sense of, ‘I’m leaving because I have to, but I want to make sure my vote still counts.'”

Meanwhile, a significant number of US citizens have also previously been reported to be exploring the possibility of moving to Canada following the re-election of Donald Trump, as evidenced by the significant increase in searches for Canadian visas, according to a report by The US Mirror.