Key Takeaways
- • Ultrawealthy Americans are increasingly acquiring alternate citizenships and residence programs as a hedge against pandemics, nuclear conflict, or geopolitical upheaval, according to Business Insider.
- • Henley and Partners reported a 99% year-over-year increase in 2025 in applications from Americans seeking alternative residence and citizenship.
- • A 2025 UBS survey of 87 billionaire clients found 36% had relocated at least once and a further 9% were considering it.
- • Peter Thiel temporarily relocated to Argentina, per The New York Times, while also holding US and New Zealand citizenship and reportedly applying for a Maltese passport.
- • Europe remains the most popular destination, with more than half of US applications Henley processed this year going to European programs.
Summary
Ultrawealthy Americans are increasingly securing backup citizenships and residency arrangements, which Business Insider describes as expensive insurance or portfolio diversification against events such as another pandemic, nuclear war, or geopolitical upheaval. PayPal and Palantir cofounder Peter Thiel is the latest example; The New York Times reported that he temporarily relocated to Argentina. Thiel already holds US and New Zealand citizenship and has reportedly applied for a Maltese passport.
Demand data points to a sharp rise. Henley and Partners, a residence and citizenship planning firm, recorded a 99% year-over-year increase in 2025 in applications from Americans for alternative residence and citizenship. Although the group includes upper-middle-class applicants, many of Henley's clients have net worths in the eight figures or more. Basil Mohr-Elzeki, who leads Henley's America office, said that "a contingency plan is quite expensive" and that these arrangements are not primarily tax-driven, since US citizens owe US income tax wherever they live. A 2025 UBS survey of 87 billionaire clients found 36% had relocated at least once and 9% were considering it. An April 2026 Altrata report said billionaires and centimillionaires "no longer rely on a single system, market, or passport."
Advisers cited political polarization, memories of pandemic-era travel restrictions, and growing anti-billionaire sentiment as drivers. Winston Chesterfield of London consultancy Barton pointed to resentments "bubbling beneath the surface." Business Insider reports that wealth advisers do not expect a rush to Argentina, given its volatile economy and limited straightforward citizenship paths.
Europe remains the most sought-after region. More than half of the US applications for foreign citizenship or residency that Henley has processed this year have been for European programs, according to the report. Malta's citizenship-by-merit program, St. Kitts and Nevis and Antigua and Barbuda's citizenship routes, New Zealand's golden visa (from as little as $3 million for permanent residency without relocation), and Austria's merit-based citizenship were highlighted as leading options.
Demand data points to a sharp rise. Henley and Partners, a residence and citizenship planning firm, recorded a 99% year-over-year increase in 2025 in applications from Americans for alternative residence and citizenship. Although the group includes upper-middle-class applicants, many of Henley's clients have net worths in the eight figures or more. Basil Mohr-Elzeki, who leads Henley's America office, said that "a contingency plan is quite expensive" and that these arrangements are not primarily tax-driven, since US citizens owe US income tax wherever they live. A 2025 UBS survey of 87 billionaire clients found 36% had relocated at least once and 9% were considering it. An April 2026 Altrata report said billionaires and centimillionaires "no longer rely on a single system, market, or passport."
Advisers cited political polarization, memories of pandemic-era travel restrictions, and growing anti-billionaire sentiment as drivers. Winston Chesterfield of London consultancy Barton pointed to resentments "bubbling beneath the surface." Business Insider reports that wealth advisers do not expect a rush to Argentina, given its volatile economy and limited straightforward citizenship paths.
Europe remains the most sought-after region. More than half of the US applications for foreign citizenship or residency that Henley has processed this year have been for European programs, according to the report. Malta's citizenship-by-merit program, St. Kitts and Nevis and Antigua and Barbuda's citizenship routes, New Zealand's golden visa (from as little as $3 million for permanent residency without relocation), and Austria's merit-based citizenship were highlighted as leading options.
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