Where does the new American dream take you?

• Posted on Nov 07, 2024
• In Industry News, United States

Chasing the American Dream Abroad

We often hear about it, whether in movies or on the news. A phrase and concept that appears everywhere: “The American Dream.” This term refers to the United States’ national ethos, promising freedom and opportunity for everyone to achieve a better life. While people around the world are looking to America to make their dreams come true, some Americans are chasing the dream abroad.

Beyond the seas

Our recent surveys reveal a striking trend among American millionaires. Approximately 53% of wealthy U.S. citizens are making plans to leave the country following the presidential election, regardless of the outcome.
Another survey we conducted shows that younger millionaires were the most likely to leave, with 64% of millionaires between 18 and 29 saying they were “very interested” in seeking golden visas through a residency-by-investment program overseas.
“Residency and citizenship are gateways to their goals—not the goals themselves,” says Tatiana Muntean, the associate vice president and our expert in the U.S.
“Now Americans are realizing they can obtain a passport and/or residency as part of their investment.” Muntean confirms.
It’s clear that interest in residency\citizenship by investment programs has been growing in the U.S. for years, and COVID-19 accelerated this trend, as those with wealth sought greater freedom of movement, and the presidential election has driven a fresh wave of interest.

Not only “who” but also “why”

Questions have been raised, as it seems securing second or third passports is “the talk of the town” and remains a notable trend among millionaires.
“The United States will always be home, [but] a double taxation policy push many to consider renouncing their American citizenship in favor of better deals found abroad,” says Armand Arton, Arton Capital’s president.
With the political and economic uncertainty, the United States’ approach to taxation is indeed a major motivator for those seeking alternatives or “Plan B, C, or even D” abroad, as the U.S. is one of only two countries in the world (the other being Eritrea) that taxes its citizens on their worldwide income, regardless of where they live. This policy is also known as citizenship-based taxation.
Although Donald Trump’s victory could lower the U.S. tax burden, the desire to leave the country remains strong, especially for those who can afford it.

Elsewhere, but where?

“The love affair between Americans and Europe has been going on for a very long time,” says Arton. “It comes with a price, and they are totally fine investing couple hundred thousand dollars or a half million into a property or a fund.”
Well, it’s known that investing in real estate is very popular in the U.S., therefore Americans are thinking of the “win-win” equation that guarantees them freedom of mobility and lifetime assets.
There are several programs that provide a mix of lifestyle improvements, financial benefits, and travel freedom, which are crucial requirements for Americans. Popular destinations for Americans include:

• Portugal: Known for its Golden Visa, Portugal attracts Americans with benefits like access to the European Union and Schengen Area. Its Non-Habitual Resident (NHR) regime offers tax advantages for foreign income, making it particularly appealing to retirees and remote workers.
• Caribbean Nations: Countries like Antigua and Barbuda, St. Kitts and Nevis, and Grenada remain popular for their citizenship-by-investment programs, which offer quick access to global mobility. These passports are valued for visa-free travel and relatively fast processing times.
• United Arab Emirates (UAE): Dubai offers long-term residencies without taxation on global income, attracting those looking to establish businesses or gain strategic financial advantages. While direct citizenship is rare, the UAE’s efficient residency options make it a top choice for Americans.

The good, the bad, and the promising

As Americans redefine the American Dream, a growing number of wealthy individuals are looking abroad for better opportunities, seeking freedom, mobility, and financial advantages.
While the options abroad offer the potential for new legacies and greater security, navigating the complexities of global wealth management and shifting political landscapes remains a challenge. The American Dream is evolving, and for many, it now extends beyond borders.

Act ‘when’ it truly matters

The ‘when’ moment is now. If you’re waiting for things to get better or worse, who knows when that will happen?
At Arton Capital, we are committed to involving you in the global citizen movement and empowering you to become one, paving the way for a better, brighter, and safer future.
It’s time for you to explore your options. Reach out today and let us help.