Wealthy Americans’ Overseas Citizenship Inquiries Rise 183% in One Year

Key Takeaways

• Inquiries by U.S. citizens about overseas citizenship rose 183% in Q1 2025 compared to Q1 2024.
• Over 30% of investment migration applications in 2025 come from U.S. nationals, nearly double next five countries combined.
• New citizenship-by-investment programs launched by Argentina and Solomon Islands to attract wealthy investors.

A record surge in wealthy Americans seeking overseas citizenship is reshaping the global investment migration landscape in 2025. According to the USA Wealth Report 2025 by Henley & Partners, inquiries from U.S. citizens about citizenship or residency abroad jumped by 183% in the first quarter of 2025 compared to the same period last year. This is the largest year-over-year increase ever recorded. More than 30% of all investment migration applications processed by Henley & Partners so far in 2025 have come from U.S. nationals—nearly double the combined total of the next five investor nationalities. This dramatic shift reflects growing concerns about asset protection, global mobility, and future security among America’s wealthiest individuals.

Why Wealthy Americans Are Seeking Overseas Citizenship

The main reasons wealthy Americans are looking for citizenship or residency abroad include:

• Asset Protection: Many want to protect their wealth from potential risks in the United States 🇺🇸, such as political changes, economic downturns, or legal threats.
• Global Mobility: A second passport can allow visa-free travel to more countries, making it easier to move or do business internationally.
• Tax Planning: While the United States 🇺🇸 taxes citizens on worldwide income, some expats use tax treaties or exclusions to reduce their tax burden.
• Contingency Planning: Many are not planning to move right away but want a “Plan B” in case of future instability.

Basil Mohr-Elzeki, Head of North America at Henley & Partners, explained, “Securing alternative residences and citizenships is now a strategic form of risk management—a thoughtful Plan B that enhances family resilience, unlocks global opportunities, and safeguards multigenerational legacies.”

Who Is Leaving—and Where Are They Going?

The United States 🇺🇸 remains the world’s largest private wealth hub, with over six million high-net-worth individuals (HNWIs). However, a growing share are actively seeking options abroad. According to the latest data:

• 53% of American millionaires are considering leaving the United States 🇺🇸.
• Among millennial and Gen-Z millionaires, this number rises to 64%.

The most popular destinations for wealthy Americans include:

• Europe: Greece, Italy, Portugal, Switzerland, Malta, and Latvia all offer residency or citizenship by investment programs.
• Caribbean: Countries like St. Kitts and Nevis, Antigua and Barbuda, and Dominica have long-standing citizenship-by-investment (CBI) programs.
• Other Countries: Turkey, Nauru, Costa Rica, Panama, and New Zealand are also attracting U.S. applicants.

New programs are emerging as well. In May 2025, Argentina 🇦🇷 announced a new citizenship-by-investment program, and the Solomon Islands are preparing to launch their first CBI program soon.

How Citizenship by Investment (CBI) Programs Work

CBI and residency-by-investment programs allow individuals to obtain citizenship or residency in another country by making a qualifying investment. The process usually involves several steps:

1. Select a Program: Choose a country and program based on investment amount, benefits, and requirements.
2. Submit Application: Provide required documents, such as proof of funds and background checks.
3. Due Diligence: Undergo thorough background and security checks.
4. Make the Investment: Invest in real estate, government bonds, a business, or make a donation.
5. Approval: If approved, receive citizenship or residency. Some programs offer fast-track processing.
6. Passport or Permit Issuance: Obtain the new passport or residency permit. Family members can often be included.

For example, the new Argentina 🇦🇷 program requires a minimum investment of US$500,000 in productive sectors. Caribbean programs typically start at US$100,000–$250,000.

You can find more information about citizenship and residency programs on the U.S. State Department’s official website.

The Changing Mindset: From Patriotism to Pragmatism

Dual citizenship was once rare and sometimes viewed negatively among Americans. However, the mindset is shifting. As reported by VisaVerge.com, dual citizenship is now seen as a practical tool for managing risk and securing opportunities. Professor Peter J. Spiro of Temple University Law School notes, “Dual citizenship, once a luxury, is becoming the new American dream. In an era of rising uncertainty, many are seeking not just the right to stay, but the right to leave.”

This new attitude is especially common among younger millionaires, who are more likely to see themselves as global citizens. They value flexibility, mobility, and the ability to respond quickly to changes in the world.

The Role of Henley & Partners

Henley & Partners, a leading global advisory firm for investment migration, has seen a dramatic rise in applications from U.S. citizens. In 2025, over 30% of all investment migration applications processed by the firm came from Americans. This is nearly double the combined total of the next five investor nationalities, including Turkish, Indian, and British applicants.

According to analysis by Henley & Partners, this surge is not just a reaction to political events. It is part of a broader trend toward strategic diversification and legacy planning among the wealthy. Wealth managers now view second citizenship as a smart hedge against instability and a way to unlock global opportunities for families.

New Programs: Argentina and Solomon Islands

Countries are competing to attract wealthy migrants by launching new CBI programs or making existing ones more attractive. Two notable developments in 2025 include:

• Argentina 🇦🇷: In May 2025, Argentina announced a new citizenship-by-investment program. Applicants must invest at least US$500,000 in productive sectors. The government has set up a dedicated agency to oversee the process, and the program is currently under legal review. Manual Adorni, a spokesperson for the Argentine government, said, “Legal and meaningful investment in Argentina would be welcomed with the opportunity of citizenship.”
• Solomon Islands: The government has drafted its first Citizenship by Investment Bill and is expected to launch the program soon. The goal is to attract foreign capital and boost economic development.

These new programs join a growing list of countries offering citizenship or residency in exchange for investment. As more countries enter the market, competition is increasing, and applicants have more choices than ever before.

Practical Effects for Stakeholders

For Wealthy Americans

• Asset Protection: A second citizenship can help shield assets from legal or political risks in the United States 🇺🇸.
• Mobility: Many CBI programs offer passports that allow visa-free travel to dozens or even hundreds of countries.
• Family Security: These programs often include family members, providing security and options for future generations.
• Tax Planning: While the United States 🇺🇸 taxes citizens on worldwide income, some expats use tax treaties or exclusions (like the Foreign Earned Income Exclusion) to reduce their tax burden. However, strict reporting requirements remain.

For Host Countries

• Foreign Investment: CBI programs bring in capital that can be used for development, infrastructure, or other national priorities.
• Talent Attraction: Some countries use these programs to attract skilled professionals, entrepreneurs, or investors in key sectors like technology or tourism.
• Economic Growth: New investments can create jobs and boost local economies.

For Critics and Regulators

• Security Concerns: Some worry that CBI programs could be abused by criminals or those seeking to avoid legal scrutiny.
• Tax Compliance: The U.S. government maintains strict tax and reporting requirements for citizens abroad, and there is ongoing debate about expatriation rules.
• Ethical Questions: Critics argue that citizenship should not be “for sale” and that these programs may undermine the value of national identity.

Historical Context: How Did We Get Here?

Before 2020, dual citizenship was rare among Americans and sometimes carried a stigma. However, several factors have changed this:

• Political Polarization: Growing divisions in U.S. politics have made some wealthy individuals nervous about the future.
• Pandemic Disruptions: COVID-19 highlighted the importance of global mobility and the risks of being tied to one country.
• Global Instability: Wars, economic crises, and climate change have increased uncertainty worldwide.

From 2020 to 2024, interest in second citizenships grew steadily. In 2025, the trend accelerated sharply, with a 183% surge in inquiries and a growing acceptance of “sovereign portfolios”—holding multiple citizenships as a form of insurance.

The EB-5 Program: Americans Looking Inward, Too

While many wealthy Americans are looking abroad, there is also growing interest in the U.S. EB-5 program, which offers green cards to foreign investors. Inquiries about the EB-5 program rose 57% in Q1 2025 compared to Q1 2024, and 168% compared to Q4 2024. This suggests that global mobility is a two-way street, with both inbound and outbound investment migration on the rise.

Step-by-Step: How to Apply for Citizenship by Investment

If you are considering a second citizenship, here’s a typical process:

1. Research Programs: Compare countries and programs based on investment amount, benefits, and requirements.
2. Consult an Advisor: Firms like Henley & Partners or Harvey Law Corporation can provide expert guidance.
3. Prepare Documents: Gather proof of funds, background checks, and other required paperwork.
4. Submit Application: Complete the application and pay any fees.
5. Due Diligence: Undergo background and security checks.
6. Make the Investment: Transfer the required funds to the host country.
7. Receive Approval: If approved, you and your family receive citizenship or residency.
8. Obtain Passport or Permit: Get your new passport or residency permit.

For official forms and requirements, always check the host country’s government website or consult the U.S. State Department’s citizenship page.

The Future: What’s Next for Wealthy Americans and Global Citizenship?

Experts expect demand for CBI and residency programs to remain strong, especially as global uncertainty continues. New programs, like those in Argentina 🇦🇷 and the Solomon Islands, are likely to attract even more interest. Technological advances are making the application process faster and more efficient, with digital processing and streamlined requirements.

There is ongoing debate in the United States 🇺🇸 about citizenship-based taxation and expatriation rules, but no major changes are expected soon. For now, wealthy Americans will continue to explore overseas citizenship as a way to protect their assets, secure their families’ futures, and keep their options open.

Key Takeaways and Next Steps

• Interest in overseas citizenship among wealthy Americans is at an all-time high, with a 183% increase in inquiries in early 2025.
• Over 30% of all investment migration applications through Henley & Partners are now from U.S. citizens.
• Popular destinations include Europe, the Caribbean, Turkey, and new programs in Argentina 🇦🇷 and the Solomon Islands.
• Motivations include asset protection, global mobility, tax planning, and risk management.
• If you are considering a second citizenship, consult a reputable advisor and review official government resources to understand your options and obligations.

For more information, visit the U.S. State Department’s official citizenship page or contact a trusted global mobility advisor.

As VisaVerge.com reports, the surge in wealthy Americans seeking overseas citizenship is not just a trend—it’s a sign of changing attitudes about wealth, security, and what it means to be a global citizen in an uncertain world.

Learn Today

Citizenship by Investment (CBI) → Programs granting citizenship via qualifying financial investments in real estate, businesses, or government bonds.
Residency by Investment → Legal residency status granted through investment, often a preliminary step before citizenship.
High-Net-Worth Individuals (HNWIs) → Persons possessing substantial wealth, typically millions in liquid assets or investments.
Due Diligence → Comprehensive background checks to verify applicant identity and assess risks.
Expatriation → The process of renouncing one’s citizenship or tax obligations, often for tax or legal reasons.

This Article in a Nutshell

Wealthy Americans surged in seeking overseas citizenship by 183% in early 2025, driven by asset protection, global mobility, and new investment programs like Argentina’s US$500,000 minimum. This trend marks a strategic shift towards risk management and global opportunity for families amid worldwide uncertainty.
— By VisaVerge.com