07/23/2026
I don't need statistical data, I see it everyday in my business. In the last 7-8 years I have seen more and more Americans move abroad compared to 20-30 years ago. Most hold dual and triple citizenships through linea sanguinis.
The U.S. just replaced China as the world's largest market for second passports.
That's according to Eric Major, CEO of investment migration firm Latitude World, who told Forbes his American client base went from 4% to 74% of his entire business since 2019.
This isn't a handful of billionaires either. Henley & Partners saw applications from Americans climb 67% by the end of September 2025 alone, and Americans now make up 30% of all their global applicants.
Here's what's driving it. A study from Apex Capital Partners found 61% of Americans earning over $200,000 a year are considering relocating within five years. When asked why, 68% pointed to cost of living and 54% pointed to the political climate.
And it's not one side of the aisle doing this. One advisor put it simply. People on the left are worried about a third Trump term. People on the right are worried about someone further left nationalizing industries down the road. Everyone's hedging against a different fear, but they're all buying the same kind of insurance.
Most of these families aren't actually leaving. Investment migration experts describe it the same way they'd describe a stock portfolio. You diversify across assets to reduce risk, and now people are diversifying across passports the same way.
The Caribbean has become a go-to option because it doesn't require relocation at all. It's mobility and legal flexibility, held in reserve in case things ever shift.
One more thing worth knowing if you're a US citizen weighing this. Dual citizenship is legal, but it doesn't erase your tax obligations. Every US citizen still owes worldwide taxes and reporting no matter how many passports sit in the drawer.