A recent report by the Henley Passport Index reveals that US citizens now represent the largest group seeking alternative residence and citizenship, accounting for 21% of all applications submitted to Henley & Partners in 2024.
The index ranks global passports based on visa-free travel privileges.
Juerg Steffen, CEO of Henley & Partners, highlighted that Americans applying for these programs significantly outnumber the next four largest groups—Turkish, Filipino, Indian, and British nationals—combined. He described this trend as a response to growing uncertainty.
“Affluent families are using geopolitical arbitrage to diversify their citizenship or residency options. This approach helps mitigate risks and take advantage of different legal, economic, and social systems across nations,” he explained.
Projections for 2025 suggest that global millionaire migration is set to reach unprecedented levels. Henley & Partners, alongside New World Wealth, forecasts that 142,000 high-net-worth individuals, each with at least $1 million in liquid assets, will relocate to secure better opportunities.
Steffen called this surge the “largest wealth migration wave ever recorded,” adding that it reflects how wealthy individuals are adapting to an increasingly unpredictable world.
Peter Spiro, a dual citizenship expert from Temple University Law School, weighed in through the Henley Global Mobility Report 2025 Q1, pointing to political instability as a growing concern.
He emphasized that alternative citizenship now serves as a form of “political risk insurance,” especially with a possible Trump presidency on the horizon.
“During Trump’s first term, political safeguards were still intact. Now, many of those checks are gone. His unpredictable agenda amplifies uncertainty, and stability can no longer be assumed,” Spiro remarked.
He also highlighted the significance of dual citizenship in shielding individuals from restrictive policies, citing Trump’s previous travel bans as an example.
“The bans targeted nationals from certain countries but exempted dual citizens holding passports from non-targeted states. This exemption demonstrated the strategic value of dual citizenship,” Spiro noted.
As global instability grows, wealthy Americans are increasingly turning to alternative citizenship programs to secure their financial and personal futures, signalling a broader shift in how risk is managed on a global scale.
