From CNBC: 2024-04-10 08:44:24

Wealthy U.S. families are increasingly seeking second citizenships and national residences to mitigate financial risk. Henley & Partners reports Americans lead in acquiring alternative residences and citizenships. Renouncing U.S. citizenship has financial barriers, so most opt for supplemental programs. Popular destinations include Portugal, Malta, Greece, and Italy, offering benefits like visa-free travel, residency, and citizenship for investments.

Global millionaire migration is expected to peak in 2024, with an estimated 128,000 millionaires relocating this year. The U.S. remains a top destination for wealthy migrants, with a net inflow of 2,200 millionaires in 2023 and a projected 3,500 in 2024. China saw the biggest loss of millionaires last year, with 13,500 out-migrations.



Read more at CNBC: Rich Americans get second passports, citing risk of instability