Wealthy Americans Increasingly Seek Second Citizenship and Asset Diversification
A recent survey by Apex Capital Partners indicates a growing interest among wealthy Americans in acquiring second citizenships and diversifying assets globally. Nuri Katz, the firm's founder, observed that Americans now represent the largest group exploring such options, a shift he describes as unprecedented in his 34 years in the investor immigration industry. Economic factors like cost of living and taxes are cited as primary motivators for potential emigration, surpassing political concerns.
A survey conducted by Apex Capital Partners in June reveals that a notable percentage of affluent Americans are considering leaving the United States or moving assets abroad. The findings indicate that 61% of respondents would contemplate departing the U.S. within five years, while nearly 63% have considered diversifying their assets outside the country.
Nuri Katz, founder of Apex Capital Partners, a leading Citizenship by Investment advisory firm, stated that Americans are now the predominant demographic seeking second passports and international asset diversification. Katz, who has spent 34 years in the investor immigration sector, described this trend as something he has "never seen before."
Katz, who lived in Moscow for two decades starting in 1990 and witnessed the fall of the Soviet Union, expressed that he now perceives "ominous signs" in the U.S. He pointed to concerns about hyperinflation and the ballooning national debt.
The survey, which polled 1,733 Americans with household incomes above $200,000, also found that three out of four expressed concerns regarding the future of the U.S. in relation to the Iran War.
Notably, the primary drivers for considering emigration have shifted. Cost of living and taxes were cited by 68% of respondents as the main reasons, exceeding political climate, which was named by 54%. Katz observed that, while historically clients were largely motivated by political anxieties, economic signals are now more prominent. He noted that his firm is seeing clients from across the political spectrum, driven by diverse concerns, including fears of a potential third term for Trump and a significant move to the left with a socialist coming into power.
Katz further suggested that underlying these motivations is a burgeoning discourse about the U.S. dollar and the national debt, which he believes impacts wealthy individuals heavily invested in U.S. dollar assets such as 401(k)s, real estate, and stock portfolios.
According to Fortune, these trends mark a significant development in the investor immigration landscape.
