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The re-election of Donald Trump as President of the United States has once again led many Americans to contemplate leaving the country, as a repeat of the 2016 sentiment resurfaces. Wealthy Americans in particular have been readying their "Plan B" regardless of the election outcome, according to their attorneys. Survey data reveals a growing desire among Americans across various income levels to relocate, driven by political and social unrest and the high cost of living.

A notable trend over the past few years is the increasing number of Americans renouncing their citizenship. Immigration attorneys attribute this to rising anti-immigrant, anti-Semitic, and anti-LGBTQ sentiments, alongside the erosion of women's reproductive rights. "We saw a spike in 2017 after Trump won, and then again in 2020," explains Reaz Jafri, an immigration attorney at international law firm Withers and CEO of Dasein, highlighting concerns over potential tax increases, a contested election, and the January 6 riots.

Henley & Partners, a global citizenship firm, reports that U.S. nationals now constitute the largest segment of their client applications. "We expect this trend to accelerate following the results of [Tuesday]'s U.S. election," said Sarah Nicklin, the firm's head of public relations.

Potential destinations for relocating Americans include Canada and several European countries such as Greece, Italy, Malta, Portugal, and Spain. However, relocation is often complex due to stringent immigration requirements. Options include securing a job in an in-demand profession, making significant investments, purchasing real estate, or having a citizen spouse or partner. Remote work arrangements can also facilitate moves.

Canada, for example, favors skilled trades and professions, with competitive programs scoring candidates against each other. Conversely, Mexico has become a popular destination due to its lower cost of living and favorable weather, with residency visas increasing by 70% from 2019 to 2022.

Panama offers temporary telework and accessible retirement visas, while Americans can reside in the country for up to six months without a visa. Costa Rica's digital nomad visa allows remote work with specific income requirements. Similarly, Spain and Italy offer digital nomad visas for highly skilled workers.

Portugal is growing in popularity, with multiple visa schemes including the D7 visa for retirees and the golden visa program. For retirees seeking favorable tax jurisdictions, France remains an attractive option.

For wealthy Americans, options abound with investments ranging from hundreds of thousands to several million dollars expediting the residency process in various countries, including Caribbean nations and Thailand. Australia and New Zealand offer specialized programs for affluent individuals contributing to innovation and technology sectors.

Aspiring expatriates should also consider safety, healthcare, and cultural adjustments when choosing a new home. Those retaining U.S. citizenship will need to navigate complex tax requirements, while renouncing citizenship can have significant repercussions, including travel restrictions.

Immigration laws and residency program rules continue to evolve, particularly in Europe where politicians are reevaluating golden visa schemes. Consulting a global citizenship firm can help navigate these complexities for those determined to move abroad.