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Research indicates that ultra-rich Americans are expanding their search for second citizenship to diversify wealth, increase global mobility, and reduce risks.
The ultra-rich in the USA are leading a significant shift in the global investment migration market. More and more high-income Americans are seeking a second citizenship as a way to reduce risks, diversify wealth, and ensure alternatives in the face of uncertain political, economic, and geopolitical scenarios.
According to industry experts interviewed by Forbes, the United States has surpassed China and become the world’s largest market for residence and citizenship by investment programs. The movement reflects a growing concern with financial stability, quality of life, and freedom of international movement.
Data from Apex Capital Partners shows that 61% of Americans with an annual income over $200,000 are considering moving to another country in the next five years. At the same time, Henley & Partners recorded a 183% increase in inquiries from U.S. citizens interested in alternative residences and citizenships during the first quarter of 2025.
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Ultra-rich Americans turn citizenships into a risk management tool
For decades, investors have diversified financial applications to protect wealth. Now, many are applying the same logic to their own nationality.
Eric Major, CEO of the consultancy Latitude World, states that the interest of Americans in international programs has grown rapidly in recent years. According to him, the USA has taken the global lead in the search for second citizenship.
The goal goes far beyond tourism. For many ultra-rich individuals, possessing multiple citizenships means having access to different legal systems, international markets, and residency opportunities in case of sudden changes in the global scenario.
This behavior has been driven by events that marked the last decade, including economic crises, pandemics, international conflicts, and increasing political polarization.
Why Americans are seeking a second citizenship
The reasons that lead Americans to seek a second citizenship are diverse, but some factors frequently appear among those interviewed by specialized consultancies.
The research by Apex Capital Partners identified that:
- 68% point to the cost of living as the main concern;
- 54% cite the political environment in the USA;
- Thousands show interest in expanding international freedom of movement;
- Many seek alternatives for wealth and succession planning.
Nuri Katz, president of Apex Capital Partners, notes that the interest crosses different political positions. According to him, both conservative and progressive voters express concerns related to the country’s future.
In practice, second citizenship has come to be seen as an additional layer of protection for families with great wealth.
The growth of alternative citizenships after Trump’s re-election
The market recorded significant acceleration after Donald Trump was elected for a second term.
Henley & Partners reported that inquiries from Americans interested in alternative citizenships and residencies grew by 183% in the first quarter of 2025 compared to the same period the previous year.
Another data point cited by Eric Major shows an impressive change in his own client portfolio. According to him, Americans represented only 4% of the company’s business in 2019. Currently, this percentage reaches 74%.
The advancement demonstrates how the topic has ceased to be a concern restricted to small groups and has become part of the strategic planning of an increasing number of investors.
Europe continues to attract ultra-rich seeking international mobility
Even with stricter rules, Europe remains one of the main destinations for those seeking international citizenships.
The interest is directly linked to access to the Schengen Area, which allows movement through 29 European countries without internal migration controls.
However, several programs have undergone significant changes in recent years.
Among the main changes are:
- Greece raised the minimum investment from €250,000 to up to €800,000 in more sought-after regions;
- Spain officially ended its golden visa program in April 2025;
- Portugal extended the minimum period for citizenship application from five to ten years;
- Malta reformed its rules following a decision by the European Union Court of Justice.
Despite these restrictions, experts affirm that the interest of ultra-rich Americans in Europe remains high.
Caribbean offers a faster path to second citizenship
While European programs become more demanding, Caribbean countries gain traction among international investors.
According to industry experts, a second Caribbean citizenship can be obtained for approximately $250,000, with an average processing time between four and six months.
Another important advantage is the regional integration promoted by the Organization of Eastern Caribbean States.
In practice, citizens of one of the member countries can access work and residency opportunities in other participating nations, expanding the benefits of the acquired nationality.
For many Americans, it is the ideal combination of cost, speed, and international mobility.
Citizenships by descent gain strength among Americans
Not all interested parties need to invest millions to obtain a new nationality.
Citizenship by descent is becoming one of the most sought-after alternatives for Americans with family roots in Europe or Canada.
According to international migration experts, this option is usually recommended before any investment program due to significantly lower costs.
The number of applications for Irish citizenship by ancestry grew 63% last year, highlighting the increase in demand.
In Canada, after changes in rules related to dual citizenship, Americans have come to lead nationality applications, surpassing even the sum of the next nine countries in the application ranking.
New Zealand attracts ultra-rich concerned with extreme scenarios
Among the destinations considered the safest in the world, New Zealand frequently appears on the preference lists of the ultra-rich.
Eric Major reports that many clients with assets over $100 million show interest in the country due to political stability, quality of life, and geographic location.
The local program requires a minimum investment of approximately NZ$ 5 million, equivalent to about $3 million.
Although the cost is high, New Zealand holds a prominent position in international rankings related to quality of life and global reputation, factors highly valued by high-net-worth investors.
Trump Gold Card does not achieve expected result in the USA
While many Americans seek alternatives abroad, the US government has attempted to attract foreign investors through the Trump Gold Card program.
Initially presented with a value of $5 million, the project promised to facilitate access to American residency.
Subsequently, the price was reduced to $1 million after the initial low uptake.
Despite the 80% reduction in the required amount, the results fell short of expectations. According to information released by the American press, only one visa had been approved months after the program’s launch.
Industry experts assess that investors prefer programs based on recoverable applications, rather than models that require payments without direct financial return.
What this trend reveals about the future of global wealth
The growth in demand for citizenships among ultra-wealthy Americans shows an important transformation in how assets are protected and managed.
Second citizenship has ceased to represent just convenience for international travel. Today, it is part of strategies involving family succession, legal protection, global mobility, and risk diversification.
With the US leading the global demand for citizenship and residency by investment programs, experts believe that this trend will continue to advance in the coming years.
In a scenario marked by economic uncertainties, geopolitical disputes, and frequent regulatory changes, possessing multiple citizenships has come to be seen by many investors as a strategic tool to enhance security, freedom, and access to international opportunities.
With information from Forbes
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