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

Nearly 72 million Americans voted for Kamala Harris, and while many are threatening to leave the country after such results, most remain to stay.

This time, however, Europe may see an influx of wealthy Americans seeking residency. Interest in “golden visas” has increased among US citizens since the election, according to migration consultants, CNN reported.

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

What is “golden visa”?

Golden visas allow people to acquire foreign residency or citizenship through investments in areas such as real estate, government bonds or start-ups. Although residency usually allows families to move and own property, it does not offer passports or the right to vote. Citizenship by investment, on the other hand, provides both, and in the EU it includes the right to live in other member states, Barron’s reported.

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

However, most individuals do not plan to permanently move. “The main focus for most Americans is just having the option … as insurance,” Volek said.

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Arton Capital, another investment migration consultancy, reported over 100 inquiries the day after Donald Trump’s election victory, five times the usual daily average.

“A very small percentage of these people actually move, but they all want the option as a plan B,” said chief executive Armand Arton, who expects increased demand from the US in the next six months. CNN.

Immigration lawyer Reaz Jafri of Withersworldwide also noticed a similar pattern. Minutes after Trump’s victory was announced, he received an email from a Californian couple seeking EU citizenship through Malta for themselves and their transgender child.
“We need to do this quickly,” they said.

In the past week, Jafri has signed agreements with seven families seeking withdrawal. “They’re not down on America, they’re just worried about the direction we’re going in now,” he said Barron’s.

The increase in demand

Historically, residency and citizenship-by-investment schemes have primarily drawn elites from emerging markets such as 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 to obtain visa-free travel.

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

“Many of the very wealthy families … were a little more vulnerable than they realized,” he added CNN.

Since then, demand from American citizens has increased due to increasing 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 Residency program has become popular due to its affordability, which requires a minimum €250,000 investment in art or cultural heritage and offers a path to EU citizenship after five years. Meanwhile, countries such as Greece, Spain and Italy require seven to ten years for citizenship.

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

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What about the not-so-rich Americans?

With golden visas out of reach for most Americans, many are turning to alternative routes to move abroad, which has caused debate on social media.

A YouTube video titled “Countries for Americans Who Want to Leave the U.S.,” posted by a couple, has garnered over half a million views and 4,000 comments in less than two weeks. Similarly, a Reddit thread called “Emigration after the US election results” received 1,300 comments during the same period.

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

“I’ve talked to people whose lives and livelihoods are at risk,” Foster told the media outlet, citing women, black individuals, LGBTQ+ families and transgender parents. “These people are not your golden visa people,” she added.

For many US citizens, looking to citizenship by descent – proving ancestral ties to an EU country – has also become a viable option. Henley & Partners said residency or citizenship by investment, while 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 and they invest $1 million to support female entrepreneurship or something, they get citizenship,” Reaz Jafri said.

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

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