Political and economic uncertainties are driving more Americans to follow the lead of wealthy people from mainland China and Hong Kong by shopping for properties – and rights of abode – overseas.
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The UK, Australia and Portugal are among the favoured destinations, and property agents there have noted a significant increase in the number of US-based clients trying to line up residential options.
Official data is scant, but immigration consultants and property agents said the trend intensified following the re-election of Donald Trump, whose actions have heightened uncertainty on issues from the economy to the rule of law.
“Many Americans realised that relying on a single passport posed a risk they were no longer comfortable with,” said Basil Mohr-Elzeki, head of North America at Henley & Partners, a London-based consultant on residency and citizenship via investment.
The number of American clients calling on the firm’s services increased by more than 1,000 per cent in 2024 compared with 2019, it said. Overall, US nationals accounted for about a quarter of all applications the consultancy processed last year – nearly as many as the next four client nationality groups combined.
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“That shift in mindset hasn’t faded,” Mohr-Elzeki said. “In fact, in 2025, demand for alternative residence and citizenship continues to surge. Henley & Partners has more American clients than ever before seeking a second passport or residency abroad, with high-net-worth families viewing investment migration as an essential insurance policy against the economic and political uncertainty in the US.”