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NRIPage | Articles | Record numbers of wealthy Americans are making plans to leave the U.S. after the election | Latest Stock Market News | Get Latest Political News & Updates, Sports News, Latest NRI News & Updates, Latest International News & Updates in India, USA & other countries around the world in - NRI Page
A growing number of wealthy Americans are preparing to leave the country ahead of the upcoming election, driven by concerns over political and social unrest, according to immigration attorneys and wealth advisors. Many high-net-worth individuals are actively seeking second passports or long-term residencies abroad, marking a notable shift from the usual post-election relocation discussions.
Dominic Volek, group head of private clients at Henley & Partners, reports unprecedented demand from American clients, who now represent 20% of their business. The number of Americans exploring international migration has risen by 30% compared to last year. Similarly, David Lesperance, managing partner at Lesperance and Associates, has seen a threefold increase in Americans seeking assistance with moving abroad.
A survey by Arton Capital revealed that 53% of American millionaires are considering leaving the U.S. after the election, with younger millionaires (ages 18-29) being the most interested in obtaining residency-by-investment visas, also known as golden visas.
While political concerns are a driving factor, the trend of seeking second citizenships or residencies has been growing since the COVID-19 pandemic. Many wealthy Americans are looking for lifestyle changes, such as retiring to a more affordable country or moving closer to family. Additionally, the ultra-wealthy are diversifying their "passport portfolios" to mitigate risks tied to a single country's political and economic climate, or to ensure safe travel in regions where U.S. passports may pose risks.
