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The 6 Top Destinations Attracting Wealthy Americans for Residence and Citizenship

Yaёl Bizouati-Kennedy
·3-min read
Dimensions / Getty Images
Dimensions / Getty Images

Many Americans choose to live abroad, whether for the change of scenery, the weather, or the search for new experiences and adventures- and, for some, to build wealth.

Learn More: How Much Money Do Americans Have in Their Bank Accounts in 2024?
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While reasons for living abroad and the location choice might be based on living costs for some, for wealthy Americans for whom money is not an issue, the world is their oyster, and they have been moving in droves in recent years.

Indeed, a report by investment migration consultancy Henley & Partners found that the firm received the most inquiries from U.S. citizens on record in 2022 — a 447% increase from 2019 — when, for the first time, Americans ranked highest of all nationalities worldwide applying for residence and citizenship.

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Here are the top destinations attracting wealthy Americans for residence and citizenship.

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Portugal

According to Henley & Partners, the country is the most sought-after investment migration option for U.S. citizens, thanks to its Golden Residence Permit Program.

In 2022, there was a net inflow of approximately 1,300 millionaires in Portugal, as the program gave wealthy individuals residency in exchange for real estate investment, according to Foreign Policy.

Malta

Similarly, Malta’s investment offering also attracts scores of wealthy American citizens.

Malta grants citizenship to foreign individuals and their families who contribute to economic development. There is EUR 738,000 ($791,000) for a minimum residence period of 36 months or EUR 888,000 ($952,000) for a minimum of 12 months, according to Henley & Partners.

Spain

Other countries that are attracting wealthy Americans thanks to their investment programs include Spain, thanks to its Spain Golden Visa. Successful applicants and their families are granted visa-free access across Europe’s Schengen Area and must invest a minimum of EUR 500,000 ($536,000).

Additional alternatives include investment funds, bank deposits, or listed company shares in Spanish financial institutions with a minimum value of EUR 1 million ($1.07 million) or a government bonds investment with a minimum value of EUR 2 million ($2.15 million).

St. Kitts and Nevis

St. Kitts and Nevis is also an attractive destination for wealthy individuals who love beautiful beaches and tropical landscapes. St. Kitts and Nevis Citizenship by Investment Program requires a $250,000 minimum investment.

An additional benefit is that when you acquire citizenship under the St. Kitts and Nevis citizenship program, you and your family enjoy full citizenship for life, which can be passed on to future generations by descent, according to Henley & Partners.

Greece

The Greece Golden Visa Program is also an attractive option, which grants visa-free travel within Europe’s Schengen Area and is not required to reside in Greece. You will need a real estate investment with a minimum value of EUR 250,000 ($268,000). Another alternative is a minimum EUR 500,000 ($536,000) investment in Mykonos, Santorini, Thessaloniki, and most municipalities in Athens.

Italy

With Italy’s Golden Visa program, you will have access to visa-free travel to Europe’s Schengen Area, while not being required to reside permanently in the country.

In addition, citizenship may be available after ten years of residence under special conditions.

In order to enjoy these perks, you will need to satisfy one of these requirements:

  • A minimum of EUR 2 million ($2.15 million) in Italian government bonds.

  • A minimum of EUR 500,000 ($536,000) in Italian shares (reduced to EUR 250,000 ($268,000) if investing in innovative start-ups).

  • A minimum of EUR 1 million ($1.07 million) in projects of public interest in Italy, such as culture, education, ecology, immigration management, research and development, arts, and heritage, according to Henley & Partners.

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This article originally appeared on GOBankingRates.com: The 6 Top Destinations Attracting Wealthy Americans for Residence and Citizenship