Connect with us

Horoscope

Why Are Rich Americans Looking For ‘Golden Visa’ After Trump’s Win?

Published

on

Why Are Rich Americans Looking For ‘Golden Visa’ After Trump’s Win?

European countries are the most popular destinations for US citizens, seeking Golden Visa.

Following Donald Trump‘s massive victory in the United States presidential elections, rich Americans have started looking for the golden visa programs, which allow foreign citizenship or residency through substantial investments.

Henley & Partners, a pioneer in citizenship by investment, reported a 400 percent rise in inquiries from US citizens during the election week, CNN reported. Head of private clients at Henley & Partners, Dominic Volek described the trend as a strategy for “optionality.”

He said it was similar to “an insurance policy,” with most applicants seeking backup plans rather than permanent relocation.

Another consultancy, Arton Capital, reported a fivefold surge in Golden Visa inquiries the day after the election results. Arman Arton, CEO, said, “A very small percentage of these people are actually relocating, but they all want to have the option as a Plan B.”

For those seeking golden visas, European countries remain the top choice. Portugal’s Golden Residence Permit Programme is particularly popular for its affordability and fast track to EU citizenship. A minimum investment of Euro 250,000 in cultural heritage can grant residency, with citizenship eligibility after five years.

The ultra-wealthy gravitate towards Malta and Austria. Malta offers immediate citizenship for a Euro 600,000 non-refundable payment, along with additional investments in real estate and charities. Austria requires a minimum investment of €3.5 million, often in local businesses, for citizenship.

Golden visa programs historically attracted individuals from politically unstable regions. However, demand from the US spiked during the pandemic as travel restrictions impacted affluent families, according to expert Mr. Volek.

While golden visas appeal to the wealthy, many ordinary Americans are also considering moving abroad, driven by safety concerns rather than luxury. Flannery Foster, an American based in Spain who assists others with relocation, noted that she frequently interacts with people whose lives are at risk, including women, Black individuals, and LGBTQ+ families.

Many of these individuals wish to retain their US citizenship. Foster added, “There’s a sense of, ‘I’m leaving because I have to, but I want to make sure my vote still counts.’”

Get Latest News Live on Times Now along with Breaking News and Top Headlines from US News, World and around the world.

Continue Reading