New Data Shows Americans Turning to Second Passports in 2025

Data shows that Americans are eyeing Europe as a Plan B after the election.

Since the presidential election in November, Americans have shown a high interest in securing a second passport.

The reasons vary. However, it's primarily driven by concerns over political division, rising costs at home, and growing uncertainty about the country’s long-term direction.

Where Do Americans Want to Go?

Our research found that Europe has the most interest from Americans wanting to move out of the States.

Europe has 50 countries inside of it. Therefore, we dived into the five most popular destinations for Americans to see which had more interest.

It turns out that Italy, over the last year, has had the most interest. However, during the November spike (when Trump was elected president), Portugal had much more interest than the other popular destinations.

Out of all these places, we can assume Portugal, Spain, and Italy will likely be the choice. This is mainly from the visa programs they offer and the clear road to citizenship.

Key Motivations Behind the Movement

Generally, every time there's an election in the U.S., we see a spike of interest in Americans wanting to move away. But this year is different. The spikes are much more significant.

According to research, this is because:

• Political Instability: 46% of respondents state that political instability and the threat of unrest in the U.S. is driving them to relocate.
• Cost of Living: 33% of individuals mentioned that the high cost of living, especially for healthcare, is another core motivator.
• Quality of Life: 51% also mentioned that they wanted a better life for themselves and their children.

These concerns aren’t just from a single party either. They’re from both parties. It doesn’t matter if someone is red or blue; many are seeking a second passport as a “Plan B”.

Main Pathways to a Second Passport

For most countries, there are three ways to obtain a second passport: descent, investment, and naturalisation.

1. Descent

Citizenship by descent allows individuals to claim citizenship through ancestral ties, such as parents, grandparents, and sometimes even great-grandparents. Generally, this is the most affordable option but requires in-depth documentation.

2. Investment

Citizenship by investment enables individuals to invest their way into citizenship. Most of the time, this requires a large financial contribution to the country, usually starting at €100,000-€250,000. It is, however, the fastest way to a second passport.

3. Naturalisation

Naturalisation involves individuals living in the country for a specific period of time. They’ll need to fulfill residency requirements and then apply for citizenship. For example, live in the country for 5 years, speak the languages to a certain level, etc.

Popular Programs in 2025

Urgency & Opportunity: Portugal Emerges as a Top Choice for Americans

With U.S. political uncertainty and global tensions rising, Americans are looking more seriously than ever at second citizenship — and Portugal has emerged as one of the most flexible and cost-effective options.

But with Portugal’s government entering a period of transition in mid-2025, the future of its residency programmes remains uncertain. Just as Spain’s Golden Visa was abruptly closed, similar changes could hit Portugal once a new government is in place.

Portugal’s Golden Visa is not only still open — it also includes grandfathering protections, meaning applicants who get in now will be protected under today’s rules, regardless of future changes.

Our exclusive webinar, hosted by Jason Swan, a Golden Visa specialist at Holborn Assets, will unpack the latest updates, clarify what the Portugal Golden Visa offers in 2025, and explain what Americans need to know — now that demand is surging.

*If you cannot attend the webinar or would prefer one-on-one, book a call here.

Is a Second Passport the New American Dream?

Yes and no. It depends on the individual.

For some, it’s a strategic backup plan. A way to secure more mobility and change their way of life. For others, it’s about expanding their opportunities, diversifying their investments, or looking for a place to retire.

We don’t think people are “giving up” on America. It’s too soon to decide. We just think some people are more interested in moving away from America; whether they actually move or not is another question.

So, is this the end of the American dream? No. It might possibly be the evolution of it.

For those considering a second passport, Portugal’s Golden Visa remains the standout option.

Live Webinar

If you’re considering Portugal’s Golden Visa Program, you can signup for a live Q&A webinar with Jason Swan from Holborn Assets that will answer all your questions. Click the link HERE to discover when our next session is happening and secure your spot! The live webinar will cover:

• Golden Visa Basics – how to qualify, who can be included
• Application timeline and process, latest updates with AIMA
• Latest investment criteria – April 2025
• How to qualify with 349,000 EUR – this exclusive offer includes an upfront return and an exclusive loan offering to bridge the gap to reach the 500k minimum investment.
• Tax Breaks / NHR 2.0
• Most Popular Investment Picks – 2025
• Live Q&A for all questions

Spots are limited – click to claim yours today!

*If you cannot attend the webinar or would prefer one-on-one, book a call here.