Will Jones 
For decades, second citizenships and so-called golden visas were viewed as niche tools for billionaires, globe-trotting tycoons or celebrities seeking convenience. Today, they are increasingly becoming something else entirely: an insurance policy.
According to Latitude Group, a global advisory firm that works with high-net-worth families on international residency and citizenship planning, demand from Americans has surged in recent years, fueled not by wanderlust but by pragmatism.
“The vast majority of clients are pursuing a second residence or citizenship as a Plan B,” says Eric Major, the firm’s CEO. “They’re not looking to relocate. They simply want to be prepared. The ratio is roughly 80:20 Plan B versus relocation.”
In other words, not quite an exodus. But certainly a notable increase in those who are seeking diversification. In fact, so much so that Latitude is hosting an event in Santa Monica on March 11 specifically for the growing number of Californians who have reached out to them about global residency.
Just as investors spread capital across asset classes, a growing number of affluent Americans are spreading geopolitical risk across borders.
From Luxury to Risk Management
Major says today’s clients are less motivated by tax arbitrage than by security, stability and optionality.
“Tax is sometimes part of the conversation, but it’s rarely the primary motivator,” he explains. “Most clients are focused on security, stability, mobility and long-term financial resilience.”
There is also a family calculus at play. Access to healthcare systems, education pathways, career mobility for children and the simple reassurance of having somewhere else to go in an emergency all factor into the decision.
That mindset has broadened the customer base well beyond the ultra-wealthy.
Historically, investment migration programs catered mostly to ultra-high-net-worth individuals structuring multinational lives. Today, Major says many clients fall into the low-to-mid seven-figure range in investable assets, with plenty in the high seven and eight figures. Some even make significant tradeoffs to participate, selling property or reallocating retirement funds to finance applications.
“A second passport or residence is no longer considered a luxury,” Major says. “For many Americans, it’s becoming a must-have.”
Politics, Pandemic And A Sense Of Urgency
Demand has risen in waves.
Latitude observed a first spike around the 2016 election cycle. A second came during the pandemic, when travel restrictions exposed how quickly mobility could vanish. The latest surge has built over the past 18 months amid renewed political polarization and policy uncertainty.
“What has shifted recently is that the decision has become more immediate and personal,” Major says. “It’s no longer just about long-term diversification. There’s a genuine sense of urgency to have practical alternatives in place.”
Still, he cautions against framing the trend as fear-driven. Many families see the move as a “two-for-one”: reallocating capital into overseas real estate or regulated investment funds while simultaneously securing legal status and mobility.
The strategy resembles portfolio construction more than political protest.
“People are recognizing they may have an overreliance on a single country,” he says. “Diversifying outside the U.S. has become a primary motivator.”
Where Americans Are Going
For U.S. families, Europe remains the anchor.
Portugal and Greece lead the pack. Portugal’s residency pathway is attractive because it emphasizes legal residence rather than strict physical presence, making it workable for internationally mobile professionals. Greece offers one of the lowest entry points in Europe through real estate investment and requires no ongoing residency.
Meanwhile, Caribbean citizenship-by-investment programs in Grenada and Antigua and Barbuda remain popular for families seeking faster, more flexible second passports tied to real estate or government contributions.
Selective European jurisdictions such as Malta continue to draw interest through highly curated residence or merit-based citizenship pathways. And Major notes growing demand for New Zealand among families prioritizing stability and quality of life.
One lesson from the past few years: these programs don’t last forever. Spain shuttered its golden visa. Malta tightened routes. Requirements shift quickly as politics evolve.
“That’s encouraging many clients to act while credible pathways still exist,” Major says.
Insurance, Not Exit
Despite the headlines, few Americans are actually cutting ties with the U.S.
“The vast majority are not looking to renounce,” Major says. “This is an insurance policy and a diversification tool, not an exit strategy.”
Renunciation tends to involve a small subset of globally mobile individuals with complex cross-border holdings and permanent plans abroad, often requiring careful navigation of expatriation taxes and long-term legal consequences.
For most families, simply having another residency or passport provides peace of mind without the drastic step of leaving the U.S. system entirely.
The Next Five Years
Major expects the market to become more mainstream and more regulated.
Over the next five years, he predicts growth will concentrate in programs that are transparent, credible and politically durable, while overly transactional models face scrutiny or closure. Investment migration, he argues, is evolving into a standard component of wealth planning.
“Clients are starting to treat residence and citizenship like any other asset,” he says. “They’re building diversified portfolios of options.”
In that sense, a second passport may soon resemble something less exotic and more familiar: another line item on a balance sheet, right alongside stocks, bonds and real estate.
Not an escape hatch.
Just smart risk management.