Consultants who specialise in helping wealthy people emigrate have also reported a spike in interest for “golden visas” following the election, CNN reported.
One such consultancy, Henley & Partners, claimed its website inquiries from Americans increased almost 400% during election week.
A “golden visa” typically allows a wealthy foreigner to become a resident or citizen by making significant investments in the destination country, typically in real estate, startups or government bonds.
Americans don’t necessarily want a visa so they can move immediately but so they have the option, said Armand Arton, the CEO of another investment migration consultancy, Arton Capital.
Google searches in the US for 'Golden Visa' saw a significant spike during November 3-9 this year. Photo / Google
The company received more than 100 inquiries the day after Trump was named the next President.
“A very small percentage of these people are actually relocating, but they all want to have the option as a Plan B,” Arton told CNN. “We will definitely be very busy [over] the next six months with the US market.”
Unlike other countries such as China, India, Nigeria or Southern Africa, citizens from America haven’t traditionally desired a second passport, which allows people to visit or live in another country for an extended period.
Since the pandemic, demand from Americans has gradually risen according to Henley & Partners, and US nationals have become its largest applicant cohort. Political tensions related to the 2024 election appear to have further stoked demand and inquiries about golden visas are up 33% this year.
How much does a ‘golden visa’ cost?
If you invest a mere €250,000 ($447,000) into national cultural heritage or the arts in Portugal, you can access its Golden Residence Permit Programme, which is allegedly popular because of its affordability.
Meanwhile, the super-rich allegedly prefer spots like Austria and Malta. The latter involves paying €600,000 to the Government, local charity donations of at least €10,000 and spending on real estate. Meanwhile, Austria requires you to drop around €3.5m directly into the economy via things such as local business investments.
Does New Zealand have a Golden Visa?
According to the Ministry of Business, Innovation and Employment, certain people can live in Aotearoa indefinitely if they meet the criteria for an Active Investor Plus Visa. This requires people to have $15m or the weighted equivalent to invest in New Zealand for four years. Unlike many golden visas, property is not an acceptable investment in New Zealand.
Investment funds must be transferred to New Zealand within six months if the application is approved. After four years, one can apply for permanent residency.
Peter Thiel, the co-founder of Paypal, was famously granted New Zealand citizenship in June 2011, despite spending 12 days in the country, due to his sizable investment. The billionaire lives in the US but told podcaster Joe Rogan he was considering a move to Aotearoa back in August this year.
Content creators and social media indicate similar desire
The interest isn’t only among wealthy Americans contacting specialised consultants. Moving country after the election is also a growing topic of interest on social media.
A YouTube video titled: “15 EASY countries for Americans who want to leave the US” was posted on November 7 and has been viewed almost 600,000 times and received 4118 comments.
The couple who shared the video clarified it was filmed before the election and they planned to share it for those who were unhappy with the result, whatever it would be.
“We are apolitical so this topic isn’t a commentary on who won the US election,” they wrote in the video’s caption. “Rather, it’s a list of options for anyone who isn’t happy with the outcome.”
Fifteen destinations were chosen for their strong expat community, affordability, high quality of life and lack of high residency visa deposit.
Destinations included Brazil, the Philippines, El Salvador, Costa Rica, Vietnam and Sri Lanka. Latvia, Ecuador, Cyprus and Panama were also listed.
One person commented that they made plans to retire in Spain several years ago. Now, they have retired, sold up and “will be moving in January. I have to say the timing couldn’t be better”, they wrote, wishing America “good luck”.
An American who moved to Italy said they no longer refer to themselves as an expat but instead a “[very lucky] EXILE”.
“I moved to Da Nang, Vietnam over two weeks ago. It’s really affordable, beautiful and the people are really kind,” another person wrote, adding they appreciated how cheap healthcare and vaccinations were compared to the US.
One person said they were learning Finnish and hoped to move to Finland with their husband and teenage children. “Mainly because of the way they treat others,” they explained. “I can hardly wait to leave the land of hate.”
Many others expressed a desire to move abroad or shared how it was the “best decision”.
On Reddit, there are hundreds of posts from users asking questions about moving abroad, specifically post-election.
Most people commented questions about moving or comments about their experience.
“I don’t feel like I identify with the majority of the people here anymore and I think it’s time for us to leave,” one man wrote, adding that he thought he would “fit in better in Canada”.
Not everyone was optimistic about the idea of moving abroad. Others warned people against moving with rose-tinted glasses, as other countries have their own issues.
“The grass is not greener. I moved from the US to Australia and I quite frankly regret it,” one person wrote, as they struggle with the lack of career opportunities and isolation. They also felt the cost of living crisis and racism was worse than in the US.
“Many will be taking a hit in quality of life and pay cut moving out of the US,” another said. “You need an actual desire and motivation to emigrate, and it shouldn’t be due to a reaction solely on an election result.”
Country advertises to unhappy Americans
Other countries have responded to anticipated demand, following the election. Ollolai, an Italian village on the island of Sardinia, created an entire website that offers €1 properties to Americans considering the expat life following the election results.
The Ollolai website encourages people to move there if they are weary of political conflict. Photo / liveinollolai.com
“Are you worried [sic] out by global politics?” the website reads. “It’s time to start building your European escape in the stunning paradise of Sardinia.”
The website was launched to attract Americans to the island, which has struggled with depopulation in recent decades, Mayor Francesco Columbu told CNN.
