A surge of affluent Americans may soon be seeking refuge in Europe, as the possibility of another term for President Donald Trump has many Democratic voters considering relocation. There has been a significant increase in interest in "golden visas" among US citizens following the recent election, according to firms that specialize in assisting the wealthy with international migration. These visas allow individuals to essentially purchase foreign citizenship or residency through substantial investments, such as in real estate, government bonds, or startups.

Henley & Partners, a firm credited with pioneering the concept of citizenship-by-investment in the 1990s, reported a nearly 400% increase in inquiries from US nationals on their website the week following the election compared to the previous week. However, not all of these individuals are planning a permanent move to a new country. "For most Americans, the primary goal is to have the flexibility... akin to an insurance policy," explained Dominic Volek, head of private clients at Henley & Partners.

Arton Capital, another consultancy focused on investment migration, reported receiving over 100 inquiries the day after Trump's victory was announced, which is five times their usual daily average. "A very small percentage of these individuals are actually planning to relocate, but they all want to have the option as a backup plan," said CEO Armand Arton. "We are definitely expecting to be very busy with the US market over the next six months."

One Italian village, Ollolai on the island of Sardinia, is capitalizing on this sudden surge in interest by launching a website offering extremely affordable homes, hoping that those disappointed with the election results will purchase one of their vacant properties.

The historical demand for residence and citizenship-by-investment programs has primarily come from emerging market elites, including those from Nigeria, South Africa, China, India, and the Philippines, who often face greater political and economic instability in their home countries or seek a second passport for visa-free travel. However, Americans were not a significant source of demand for golden visas until the pandemic, when Covid-19 lockdowns prevented them from visiting Europe without a European passport, even if they owned second homes there or could travel by private jet, according to Volek.

"Many of the very wealthy families... realized they were more exposed than they had anticipated," he said. Since then, demand has been on the rise, with increased political division and social tension in the United States also contributing to the interest, as stated in a Henley & Partners report published earlier this year. Since 2020, US nationals have become the firm's largest group of applicants for investment migration programs. Inquiries about golden visas from Americans have increased by 33% so far this year compared to the same period last year, with European programs being the most sought after.

Portugal's Golden Residence Permit Program is the most popular because it is relatively affordable, requiring a minimum investment of €250,000 ($265,000) in the arts or national cultural heritage. It also offers a path to European Union citizenship after just five years, as opposed to seven to ten years in countries like Greece, Spain, and Italy, which are also popular among Americans. The ultra-wealthy—those with a net worth of $50 million and above—tend to prefer Malta or Austria, which offer immediate paths to citizenship but at a significantly higher cost.

Malta's program requires a non-refundable payment to the government of €600,000 ($636,000), along with considerable additional spending on real estate in the country and a €10,000 ($10,600) donation to local charities. Austria demands a direct contribution to the economy, such as an investment in a local business, which typically starts at around €3.5 million ($3.7 million).

David Lesperance of Lesperance & Associates, an immigration and tax advisory firm, stated on Wednesday that the Americans he has been in contact with are "serious" about relocating their families. "In the last two weeks, I have been averaging three to four American clients per day who have actually spent money on a paid consultation," he added. "In 34 years of practice since I helped my first American client expatriate, this is unprecedented."

While golden visas are out of reach for most Americans, social media platforms are filled with discussions about other ways to move abroad. A YouTube video on "countries for Americans who want to leave the US," posted less than two weeks ago by a couple who assist people in moving abroad, has received over half a million views and 4,000 comments, including from Americans who say they are urgently exploring options for living overseas.

On Reddit, one thread titled "Emigrating after the US election results" has received 1,300 comments in less than two weeks. In an LGBT Reddit group, one user posted shortly before the election that they and their spouse feel that "leaving the USA as refugees may be necessary if Trump ends up winning."

Flannery Foster, an American living in Spain who assists other Americans in traveling, working, and studying abroad, has heard similar stories. "I've been talking to people whose lives and livelihoods are at risk," Foster told , referring to women, Black people, parents with transgender children, and the LGBTQ+ community. "These people are not your golden visa people," she added. Since the election, Foster, who is in the process of obtaining Spanish citizenship, has seen "exponential growth" in inquiries and says she is currently working with around 50 people interested in living outside the US.

However, these individuals do not wish to renounce their US citizenship. "There is a sense that, 'I'm leaving because I have to and I want to make sure that my vote still counts,'" Foster explained.