Published on October 29, 2026
For a growing number of wealthy Americans, the pursuit of happiness is increasingly involving a change of address far beyond the borders of the United States. Driven by deepening political polarization, mounting concerns over social safety, and economic pressures at home, high-net-worth individuals are looking to put down roots internationally at unprecedented rates.
According to a recent report released by La Vida, a prominent golden visa and citizenship-by-investment advisory firm, an overwhelming 94.3 percent of affluent U.S. investors are actively considering securing a second residency or alternative citizenship. The firm surveyed a cohort of 70 well-heeled U.S. investors this month who were actively exploring residency changes. The majority of respondents belonged to the millionaire demographic, boasting an estimated average net worth of approximately $8 million.
The motivations driving this affluent migration trend are multifaceted, but concerns regarding security and political stability loom largest. Many respondents pointed to what they perceive as a fraying of civic cohesion and civil discourse within the United States. One surveyed investor starkly summarized the sentiment, noting that the deterioration in the foundational social contract has become so severe that the United States is no longer viewed as a pleasant or secure place in which to reside.
Beyond immediate safety concerns, the data reveals a strong desire among affluent families to establish a reliable safety net for the future. The report indicates that 84.3 percent of investors surveyed are primarily looking for a structured "Plan B"—an actionable option that would allow them and their families to relocate abroad with ease should domestic conditions shift dramatically. This figure represents a noticeable climb compared to the 76.4 percent of investors who reported similar sentiments in 2025.
Despite their willingness to relocate if necessary, many respondents emphasized that their primary preference remains staying in the United States, provided their standard of living and security remain uncompromised. As one survey participant articulated, if they have to move, they will, but if they do not have to move, they will gladly stay in the U.S., where they genuinely enjoy their established way of life.
While political anxiety is the primary catalyst for the trend, economic pressures are also playing a significant role in pushing wealthy Americans to explore foreign shores. More than half of the surveyed investors, exactly 51.4 percent, pointed to the rising cost of living in the United States as a motivating factor for seeking options abroad. Additionally, 47.1 percent cited concerns over the American healthcare system as a driving force behind their international search.
Taxation policies also emerged as a notable consideration, with 22.4 percent of those surveyed noting that tax burdens influenced their contemplation of a second residency. These financial concerns mirror broader debates unfolding across the country at the state level. In the upper echelons of wealth, government levies have become a critical focal point, particularly in places like California. Ahead of upcoming November elections, California voters have been weighing a proposed one-time 5 percent wealth tax targeting individuals with a net worth exceeding $1 billion. Anticipation surrounding the potential implementation of this levy has already prompted a visible migration of ultra-wealthy residents fleeing the Golden State for more tax-friendly U.S. locales, such as Miami.
When affluent Americans look outward for alternative residency options, one European nation commands the vast majority of the interest. According to the La Vida survey, 63.6 percent of participating investors named Portugal among their top destinations for relocation.
Portugal’s enduring popularity is largely anchored in its highly sought-after golden visa program. The initiative allows qualifying foreign investors to gain European Union residency, granting them the freedom to travel seamlessly throughout the various nations comprising the Schengen Area. Furthermore, the program offers participants a clear pathway to apply for full citizenship after maintaining residency for ten years.
This dramatic influx of foreign capital and high-net-worth residents has not been without its domestic consequences. Over the past decade, property values in major Portuguese hubs have surged significantly. Between 2014 and 2024, home prices in Lisbon skyrocketed by 176 percent, with central historic districts experiencing price escalations exceeding 200 percent. Economic indicators, such as the home-price-to-income ratio, currently place Lisbon at the top of European housing affordability rankings, reflecting the complex local impacts of global wealth migration.
Following Portugal in the investor rankings, Italy captured the number two spot, with 27.3 percent of respondents indicating they would consider relocating to the Mediterranean country. Meanwhile, the Caribbean and Canada shared the third position, each attracting 24.2 percent of the surveyed investors as viable destinations for a secondary home or permanent move.
The tangible shift from contemplation to action is already underway for some members of the affluent demographic. Illustrating how quickly some investors are executing their international strategies, one survey respondent shared that they have already finalized their paperwork, noting that they have secured Portuguese citizenship and are scheduled to move to France the following month.
