Americans’ interest in moving abroad is about to ‘skyrocket’. These are the easiest countries to immigrate to

Rich Americans have have been doing preparation, their lawyer said Luck—and many did so as a “Plan B” regardless of who won the presidency. Other surveys have found that more Americans at all income levels want to leave the country, with political and social unrest the top concern, followed by high living costs. Over the past few years, more and more Americans renounce their citizenship completely. Immigration lawyers and firms say anti-immigrant, anti-Semitic and anti-LGBTQ sentiment are key causes, as is the erosion of women’s reproductive rights.

“We saw a spike in 2017 after Trump won, and then again in 2020 due to concerns about a Democratic victory and the possibility of higher tariffs on income, capital gains and wealth taxes, the disputed election and the January 6 riots,” said Reaz Jafri, attorney at international immigration law firm Withers and CEO of consulting firm Dasein , said.

U.S. citizens now make up the largest proportion of client applications at Henley & Partners, a global citizenship firm. “We expect this to now spike and increase even further following the results of [Tuesday]US election,” said Sarah Nicklin, head of public relations at Henley & Partners.

According to Henley & Partners, most Americans moving abroad head north to Canada or cross the Atlantic to Europe, where popular destinations include Greece, Italy, Malta, Portugal and the West. Spain. But moving to a new country is not as simple as domestic. Most countries have strict requirements and Americans can only travel under certain circumstances.

Depending on the country, Americans can often move if they get a job there in an in-demand occupation; significant investment; buy a house or other real estate investments; have retirement income; have a spouse or partner who is a citizen; Or you can work remotely.

For example, in Canada, immigrants without a citizen spouse often need to have experience in trade or skilled occupationand the programs are competitive: applicants are scored against each other and only those with the highest scores can immigrate. Some occupations are in higher demand than others, and different provinces need different types of workers. LuckLila MacLellan’s has compiled one List of 63 jobs to make moving to Canada easier.

Mexico is easier to move to, and Americans who do so count the cost of living and cheaper weather as key perks. And in fact, Mexico City has become a major destination for American expatriates since Covid-19, as the number of Americans applying for or renewing residency visas increased 70% from 2019 to 2022, according to word data Mexican government. Americans can live in Mexico for 180 days without a visa; Many people overstay.

Panama is also possible quite simple for Americans to move toat least temporarily. Have a temporary, permissive remote work visa Remote workers reside there for up to 18 months (requirements include having health insurance and a monthly income of at least $3,000). It also has Retirement visas are accessibleand retirees are eligible for certain tax exemptions there. Additionally, American citizens can visit for six months without a visa.

Costa Rica is Another more reasonable optionaccording to Judi Galst, private client executive at Henley & Partners. Americans can qualify for a digital nomad visa there, which allows them to live and work remotely as long as they have a minimum monthly income of $3,000, or $4,000 for families. Retirees and investors will also find simple options here.

Spain also offers a digital nomad visa, which allows remote foreign workers to move there for up to a year and can apply for a residence permit afterward. According to the Spanish governmentWorkers must have an undergraduate or graduate degree or at least three years of work experience in their current field to qualify. IDEA also offers digital nomad visas to highly skilled workers.

Portugal is an increasingly popular destination for Americans and offers a number of different routes for those looking to move there, including the D7 visa program, for retirees and Portuguese golden visa program.

And for retirees, France is another great option, says Alex Ingrim, a financial advisor with global financial services firm Chase Buchanan who helps Americans move abroad. because of its favorable tax jurisdiction.

“The easiest country often depends on a person’s specific circumstances, but today there are many options,” says Ingrim.

More options for wealthy Americans

For those with significant assets, there are more options for obtaining residency and even citizenship. From Portugal to Spain comes countries across the CaribbeanInvestments ranging from hundreds of thousands of dollars to several million can speed up the immigration process. Thailand is Another good choice for wealthy investors.

Finally, Australia and New Zealand are increasingly attractive destinations for people—like billionaire Peter Thiel—with plenty of wealth to spare. According to Henley & Partners, Australia offers the Global Talent Independence Program, a pathway for “highly skilled executives, entrepreneurs, entrepreneurs and professionals, designed to grow the economy Australia’s technology and innovation economy. New Zealand has it Active Investor Plus visa programrequiring an investment of millions of dollars to be able to live and work there indefinitely.

Obviously, not everyone can move to any country they choose. And each country and program will have different processing times — since Covid, many countries have taken longer to process and approve applications.

Other considerations before AmerExit

Of course, there are many things Americans should consider before moving abroad. Safety, community, healthcare and opportunity are all big issues. Many Americans who move abroad emphasize how difficult it is to adapt to a new culture, especially if you don’t speak the local language.

One other thing: Unless you renounce your citizenship, you’ll at least have to pay taxes in the United States, because America is one of the few countries that does this. Taxes are based on citizenship rather than residence (Very few expats are actually taxed twice due to exemptions and credits, but the paperwork is often expensive and confusing).

“Because U.S. citizens are taxed on their worldwide income, and because our taxes are relatively high, the potential tax implications are not much of a deterrent,” Jafri said. especially since the United States has good tax treaties with most European countries that help avoid double taxation.”

If you renounce your citizenship, be careful where you move to. The US is known to have banned former Americans from re-entering the states even for a visit, depending on their reason for leaving.

Finally, immigration laws are always changing, as are the rules for different residency programs around the globe. Politicians in many European countries have begun opposing golden visa programs due to unforeseen impacts on local economies. Those interested in moving abroad may find it helpful to contact a global citizenship company to help them find the best options.