The US election may have been a decisive victory for President-elect Donald Trump, but dissatisfaction among Democratic voters could not be more evident.

Nearly 72 million Americans voted for Kamala Harris, and although many have threatened to leave the country after such results, many remain.

However, this time we may see an influx of wealthy Americans seeking residence in Europe. Interest in “golden visas” among U.S. citizens has increased following the election, according to immigration consultants. CNN reported.

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Henley & Partners, which claims to have introduced the concept of citizenship by investment in the 1990s, reported that there was an approximately 400 percent increase in questions from US citizens during the election week compared to the previous week. Applications for citizenship through residence or investment, which require direct or indirect economic contribution, increased by 26% this year compared to last year.

What are ‘golden visas’?

Golden visas allow people to gain foreign residence or citizenship by investing in areas such as real estate, government bonds or startups. While residency generally allows families to move and own property, it does not offer passports or voting rights. Citizenship by investment provides both and includes the right to live in other member states of the EU. Barron’s reported.

Dominic Volek, head of Henley & Partners’ private client group, said interest in these programs has increased, especially in Democratic-leaning states. CNN.

However, most people do not plan to relocate permanently. “The main focus for most Americans is just having the optionality, like an insurance policy,” Volek said.

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Arton Capital, another investment migration consultancy, reported more than 100 inquiries the day after Donald Trump won the election, five times the daily average.

“A very small percentage of these people are actually relocating, but they all want to have that option as a Plan B,” said CEO Armand Arton, who expects demand from the U.S. to pick up in the next six months. CNN.

Immigration lawyer Reaz Jafri of Withersworldwide noticed a similar pattern. Minutes after Trump’s victory was announced, she received an email from a California couple seeking EU citizenship through Malta for themselves and their transgender child.

“We need to do this quickly,” they said.

Last week, Jafri signed agreements with seven families seeking exit options. “They’re not interested in America, they’re just interested in the direction we’re going right now,” he said Barron’s.

increase in demand

From a historical perspective, residency and citizenship by investment programs have primarily attracted elites from emerging markets such as India, Nigeria, South Africa, China and the Philippines. It is particularly noteworthy that these people often seek a second passport in order to escape the political and economic instability in their country or to travel without a visa.

But Americans were not primary participants in these programs until the pandemic. Dominic Volek of Henley & Partners said that during Covid-19 lockdowns, many wealthy U.S. citizens realized they could not visit Europe without a European passport — even if they owned homes there or had access to private jets.

“A lot of the very wealthy families… were exposed a little more than they thought,” he said. CNN.

Since then, demand from US citizens has increased due to growing political divisions and social tensions. Henley & Partners reported that Americans are the largest group applying for investment immigration programs since 2020.

Portugal’s Golden Residence Permit Program has become popular because it is affordable, requires a minimum investment of €250,000 in arts or cultural heritage, and offers a path to EU citizenship after five years. Meanwhile, countries such as Greece, Spain and Italy require seven to 10 years for citizenship.

The ultra-rich, whose net worth exceeds $50 million, are more likely to choose Malta or Austria for faster citizenship options at relatively higher costs. Malta’s program calls for a non-refundable payment of €600,000 to the government, a real estate investment and a donation of €10,000 to local charities. Meanwhile, Austria’s path includes direct contributions to its economy, starting from around €3.5 million.

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What about ‘not so rich’ Americans?

Since golden visas are out of reach of most Americans, many of them have turned to alternative ways to settle abroad, which has caused controversy on social media.

A YouTube video shared by a couple titled “Countries for Americans Who Want to Leave the US” has received more than half a million views and 4,000 comments in less than two weeks. Similarly, the topic “Immigrating After US Election Results” on Reddit received 1,300 comments in the same period.

Flannery Foster, an American who lives in Spain and helps others settle abroad, said: CNN This trend appears to extend to those who feel particularly vulnerable.

“I’m talking to people whose lives and livelihoods are at risk,” Foster told the media reporter, citing women, people of color, LGBTQ+ families and parents of transgender children. “These people are not your golden visa people,” he added.

Pursuing citizenship by descent (proving ancestral ties to an EU country) has also become a viable option for many US citizens. Residency or citizenship by investment is quicker but more expensive, Henley & Partners said.

Another route involves special citizenship claims, often used by “exceptional” entrepreneurs, athletes or artists. Barron’s reported. “If someone has a certain skill and invests $1 million to support women entrepreneurship, they will get citizenship,” Reaz Jafri said.

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For those looking for more affordable options, Caribbean countries offer citizenship programs starting at around $250,000, making them a popular choice for U.S. applicants.

One Italian village in particular is benefiting from the post-election surge in interest from Americans looking to move abroad. The village of Ollolai on the island of Sardinia has launched a website offering ultra-cheap houses, some priced as little as $1. According to the village’s website, the village is for U.S. citizens who are “wearyed by global politics” and “want to embrace a more balanced lifestyle.”