How wealthy Americans are using ‘golden visa’ as ticket to leave US after Trump win

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

Nearly 72 million Americans cast their vote for Kamala Harris, and while many threaten to leave the country after such outcomes, most remain to stay.

This time, however, Europe might see an influx of affluent Americans seeking residency. Interest in “golden visas” has surged among US citizens post-election, according to migration consultants, CNN reported.

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Henley & Partners, which claims to have started the concept of citizenship-by-investment in the 1990s, reported a nearly 400% increase in inquiries from US nationals during election week compared to the previous week. Applications for residency or citizenship by investment - which require direct or indirect economic contributions - have risen 26% this year compared to last.

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What are ‘golden visas’?

Golden visas allow people to acquire foreign residency or citizenship through investments in areas such as real estate, government bonds, or startups. While residency typically allows families to move and own property, it does not offer a passport or voting rights. Citizenship-by-investment, on the other hand, grants both, and in the EU, it includes the right to live in other member states, Barron’s reported.

Interest in these programs has surged, especially in Democratic-leaning states, Dominic Volek, group head of private clients at Henley & Partners, told CNN.

However, most individuals do not plan to permanently relocate. “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 over 100 inquiries the day after Donald Trump’s election win, five times the usual daily average.

“A very small percentage of these people are actually relocating, but they all want to have the option as a Plan B,” CEO Armand Arton, who expects increased demand from the US over the next six months, told CNN.

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Immigration attorney Reaz Jafri of Withersworldwide also noticed a similar pattern. Minutes after Trump’s victory was announced, he 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.

Over the past week, Jafri has signed agreements with seven families seeking exit options. “They’re not down on America, they’re just concerned about the direction we are headed in now,” he told Barron’s.

The rise in demand

From a historical perspective, residence- and citizenship-by-investment schemes have primarily drawn elites from emerging markets like India, Nigeria, South Africa, China, and the Philippines. Notably, these people often seek a second passport to get away from political and economic instability at home or obtain visa-free travel.

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

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

Since then, demand from US nationals has grown due to rising political divisions and social tensions. Henley & Partners reported that Americans have been the largest group of applicants for investment migration programs since 2020.

Portugal’s Golden Residence Permit Program has become popular due to its affordability, requiring a minimum €250,000 investment in arts or cultural heritage and offering a path to EU citizenship after five years. Meanwhile, countries like Greece, Spain, and Italy require seven to 10 years for citizenship.

The ultra-wealthy, with net worths exceeding $50 million, are more likely to pick Malta or Austria for their faster citizenship options but at comparatively higher costs. Malta’s program requires a €600,000 non-refundable payment to the government, a real estate investment, and a €10,000 donation to local charities. Meanwhile, Austria’s pathway involves direct contributions to its economy, starting at around €3.5 million.

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What about the ’not-so-wealthy’ Americans?

With golden visas beyond the reach of most Americans, many are turning to alternative routes for relocating abroad, which has caused debates on social media.

A YouTube video titled “Countries for Americans Who Want to Leave the US”, posted by a couple, has gained over half a million views and 4,000 comments in under two weeks. Similarly, a Reddit thread called “Emigrating After the US Election Results” has received 1,300 comments in the same period.

Flannery Foster, an American based in Spain who helps others settle abroad, told CNN that the trend includes those who feel particularly vulnerable.

“I’ve been talking to people whose lives and livelihoods are at risk,” Foster told the media outler, quoting women, Black individuals, LGBTQ+ families, and parents with transgender children. “These people are not your golden visa people,” she added.

For many US citizens, looking at citizenship by descent - proving ancestral ties to an EU country - has also become a viable option. Henley & Partners said that residency or citizenship through investment, though faster, remains more expensive.

Another route involves private requests for citizenship, often used by “extraordinary” entrepreneurs, athletes, or artists, Barron’s reported. “If someone has a skill set and they are investing $1 million supporting women entrepreneurship or something, they’ll get citizenship, Reaz Jafri said.

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For those seeking more affordable options, Caribbean nations offer citizenship programs starting around $250,000, making them a popular choice for US applicants.

Notably, an Italian village is capitalising on the post-election surge in interest from Americans looking to move abroad. The village of Ollolai, located on the island of Sardinia, has launched a website offering ultra-cheap homes - some priced as low as $1. According to the village’s website, it is for US citizens who are “worned (sic) out by global politics” and “looking to embrace a more balanced lifestyle.”