A previous survey revealed that many individuals are weary of political division as the election approaches
CNBC reported that an unprecedented number of affluent Americans are considering leaving the US after the November 5th election, irrespective of the victor, anticipating political and social instability.
The network indicated that immigration lawyers and advisors have witnessed a surge in clients seeking to acquire a second passport or reside abroad.
While relocating after elections is a common sentiment, numerous wealthy individuals are actively taking steps towards realizing this desire.
According to Dominic Volek, head of the private clients group at Henley & Partners, a firm specializing in advising high-net-worth individuals on international migration, affluent American departures have increased by at least 30% compared to last year. He shared with CNBC that wealthy Americans now constitute the company’s largest client base, comprising at least 20% of their business, surpassing any other nationality.
David Lesperance, managing partner of Lesperance and Associates, an international tax and immigration firm, stated that the number of Americans seeking his guidance on overseas relocation has approximately tripled over the past year.
Since the Covid-19 pandemic, a growing number of prosperous Americans have contemplated moving abroad. The impending election has intensified their interest, as per Lesperance. According to Henley & Partners, most are eyeing European countries, notably Portugal, Malta, Greece, Spain, and Italy.
An October survey conducted by Arton Capital, a company providing advisory services to the wealthy on immigration programs, and observed by the financial news website Quartz, indicated that 53% of American millionaires expressed a heightened inclination to leave the US after the election, regardless of the winner. Younger millionaires exhibited the highest likelihood to depart, with 64% of millionaires aged 18 to 29 indicating they were “very interested” in obtaining so-called golden visas, granting investors the right to reside in specific European countries.
The survey revealed that numerous Americans are weary of political divisions within the country, as remarked by Armand Arton, founder of Arton Capital, in a statement quoted by Quartz.
“Many are now seeking to hedge their bets and secure a ‘plan B’ residence overseas, irrespective of the election’s outcome,” he added. With just two days remaining before the election, polls suggest a tighter race than ever.
Republican Donald Trump and Democrat Kamala Harris are locked in a close contest in key battleground states, with polls indicating neither has an advantage exceeding two points.
In the so-called ‘Blue Wall’, encompassing Michigan, Pennsylvania, and Wisconsin, the difference is less than one point. However, in a potentially significant political shift in Iowa, a state Trump secured in 2016 and 2020, a reputable Des Moines Register-Mediacom poll revealed Harris leading Trump by 3 percentage points (47-44).
Data from the University of Florida’s Election Lab indicates that over 75 million ballots have already been cast in early voting.