An investment immigration consultancy claims it is recording a record number of wealthy Americans seeking ways to obtain residency rights abroad or additional citizenships.
Mehdi Kadiri, head of Henley & Partners, said that in 2023 he saw more Americans inquiring about residency and citizenship by investment than in any other year, breaking the record set in 2022.
Henley & Partners received more applicants for residency and citizenship through investment programs from U.S. citizens than from any other nationality.
The most popular route for Americans is the ‘Golden Residence Permit Program’ offered by Portugal. It is an investment residency program for foreigners, known as the Golden Visa, which allows investors to live and work in Portugal and travel visa-free within the Schengen Area across the European Union. To obtain the visa, investors need to transfer at least 500,000 euros (about 542,000 dollars) to qualified investment funds.
Programs offered by Malta, Spain, Greece, and Italy are also at the top of the lists for American citizens, according to Henley & Partners.
These programs allow wealthy Americans to maintain the United States as their primary residence but move “at any time” if needed, says Henley & Partners.
The consultancy states that the reasons why Americans seek immigration through investments include mitigating political risk, obtaining a safety net amid international conflicts, creating business opportunities abroad, and reducing taxes.
“With political divisions and social tensions at an unprecedented level, wealthy North American investors, entrepreneurs, and families are increasingly seeking alternative citizenship or residency abroad, signaling a decline in faith in domestic prospects,” says a report from Henley & Partners.
Source: Business Insider