U.S. High Earners Consider Leaving Country at Record Rates

A survey of high-income Americans showed growing interest in obtaining second passports or foreign residency, according to data released in June by Apex Capital Partners.

Sixty-one percent of respondents said they would consider leaving the United States within five years. Nearly 63 percent reported having considered diversifying assets outside the country. Three in four expressed concern about the future of the U.S. in relation to the Iran War.

Cost of living and taxes were named as primary drivers by 68 percent of those open to emigrating, compared to 54 percent who cited politics. Forty-two percent rated the U.S. economy as weak or very weak.

Capital Partners, said interest from North America has grown faster than from any other region. Before COVID, the percentage of Americans applying for second residences or citizenships was minimal. The rate has now grown by hundreds of percentages a year. Katz said both political sides expressed nervousness.

Katz pointed to the U.S. national debt, reported at $39 trillion, as a key concern. He said two possible resolutions are higher inflation through money printing or a debt default. Forty-two percent of respondents favored destinations in Europe, 18 percent Canada, and 16 percent the Caribbean.