Additional Coverage:
- There’s another surge in Americans seeking secondary passports. Global citizenship firms explain what’s changed. (newsbreak.com)
Surge in American Interest in Secondary Passports
Following Donald Trump’s reelection, global citizenship firms have reported a significant increase in inquiries from American citizens seeking secondary passports.
Concerns Driving Interest
Clients are expressing concerns over LGBTQ+ rights and potential economic changes under the Trump administration. They are also seeking ways to protect their assets offshore due to fears about increased tariffs and the impact on the U.S. dollar.
Election Surge is Common
Election cycles have historically led to spikes in interest in secondary passports, as people seek alternatives in the face of political uncertainty. However, most inquiries do not result in actual applications.
Application Process and Costs
Secondary passport applications can be complex and costly, with minimum fees starting at $200,000. Processing times can take up to two years.
Insurance Policy
Many clients view secondary passports as an insurance policy, providing peace of mind and options for retirement or generational wealth diversification.
Thanksgiving Conversations
Firms anticipate increased discussions over Thanksgiving as families consider the potential impact of these decisions on their loved ones.