Demand for golden visas from US citizens spikes in Europe following Trump win

Interest in golden visas among wealthy American citizens has soared since the US election, allowing people to buy foreign citizenship or residency through investments and real estate.
On the week of the election, inquiries into the visas increased by almost 400% compared to the week before, according to global citizenship and residency company Henley and Partners.
It also said Europe is the most sought after destination by US nationals looking to move abroad in the wake of Donald Trump’s re-election.
While the UK no longer offers golden visas, talk show host Ellen DeGeneres is reported to have left the US and moved to the Cotswold’s following the result.
But, why are Americans interested in leaving the US and what are the golden visas allowing them to do so?
What are golden visas?
Golden visas grant individuals residency or citizenship in another country in exchange for economic contribution.
The requirements vary depending on the country, but often individuals will have to make investments in real estate or businesses, for example. The amount an individual will need to invest varies.
Portugal, for example, requires a minimum investment of €250,000 (£208,000), compared to Spain which requires €500,000 (£416,000).
Some countries have other requirements, including language skills and staying in the country for a set number of days per year.
In return, the individual will have the option to relocate and become residents of the country “with full legal rights, including the right to live, work, study and receive healthcare”, the Henley and Partners website states.
What are the benefits of these visas?
One of the main benefits of these visas is that “investors and their families with access to new markets and a host of business, career, educational, healthcare, tax, and lifestyle opportunities”, Henley and Partners add.
Some countries then allow individuals and their families to apply for citizenship after being a resident for a required number of years.
For example, on Portugal’s programme, individual’s can apply for citizenship after five years.
Which countries offer them?
There is golden visa legislation in over 100 countries and over 60% of European countries have golden visa programmes, Henley and Partners say.
Portugal and Malta are two of the most popular migration options for US citizens, the consultancy firms website says.
Greece, Italy and Spain’s residency programmes are popular for Americans because they require no or very little residency requirements.
The UK and Ireland scrapped their golden visa scheme in recent years over security concerns.
Who can apply?
Applicants need to be over the age of 18, have no criminal record and meet the countries specific requirements in order to be considered.
Often wealthy people apply for them because most countries require a significant payment or investment.
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Will there be a large influx of American’s moving to Europe?
Most individuals applying for these visas do not intend to permanently leave the US, but want to have the choice to live in another country.
“The main focus for most Americans is just having the optionality… like an insurance policy,” said Dominic Volek, head of private clients at Henley & Partners told CNN.
What is driving the increase in interest?
The US election appears to be a driving factor in the interest in these visas.
On the week of the election, inquiries into the visas increased by almost 400% compared to the week before, Henley and Partners reported.
A separate investment migration consultancy, Arton Capital, told ITV News’ US partner CNN it received well over 100 inquiries the day after Trump’s victory – five times more than the daily average.
However, demand has been steadily increasing since the pandemic as “political divisions and societal tensions at an all-time high”, a report by Henley and Partners found.
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