Why Dual Citizenship Is The New American Dream

Newsweek

24-05-2025

Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
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A growing number of Americans are looking at dual citizenship as a fallback plan in times of widespread uncertainty and deepening political divisions, with young people leading the change.
A recent survey conducted by Harris Poll found that four in ten U.S. adults (42 percent) have considered or plan to relocate outside the country to improve their quality of life or financial position. Among Gen Zers, this number went up to 63 percent, while 52 percent of millennials were considering moving abroad.
"For most of modern history, the American Dream was rooted in one place: America. But that's shifting," Tim Osieki, director of thought leadership and trends at The Harris Poll, told Newsweek.
"While dual citizenship used to be reserved for retirees, the wealthy, or those with strong family ties abroad, it's now a growing goal for middle-class Americans who want more control over their future," he said. "It marks a real mindset shift—less about pledging allegiance to one nation, more about staying agile in a world that feels increasingly unstable."
Why It Matters
The American dream, which has fueled migration to the U.S. for the past century and more, was built on the idea that the U.S. was a land of opportunity offering freedom, financial stability, upward mobility, and personal success, as long as you were willing to work for it.
For many ordinary Americans, especially younger ones, that dream has died. It has been killed by the near impossibility of buying a home in the current market and the economic challenges that force them to scramble to keep up with the cost of living and delay their plans to form their own families.
The growing interest toward getting dual citizenship, proved by data shared by attorneys and firms helping customers obtain a second passport, shows that many Americans now believe that other countries can give them better opportunities than the U.S.
What To Know
David Lesperance, managing partner of Lesperance and Associates and a leading international tax and immigration adviser, told Newsweek that the uptick in U.S. nationals looking to get second citizenship originally started in 2016 when Donald Trump was elected over Hillary Clinton.
The phenomenon accelerated during the pandemic, when Americans realized they could live wherever they wanted while keeping their job in the U.S., and picked up again after January 6, 2020, and after the 2024 election, Lesperance—a Canadian national with a family history of dual citizenship—said.
"I've been using this analogy with my American clients. It's a little cheeky for a Canadian, but I tell them, imagine you live in a political wildfire zone. What's your wildfire concern?" he said.
"Taxation, shootings, Islamophobia, anti-semitism, homophobia, any of these drivers," Lesperance added. "And well, what do you do? It's called a wildfire for a reason. What if, despite your most earnest attempts, you can't put out the wildfire? Your fire insurance would be an alternative residence or alternative citizenship."
The top reasons why Americans are considering leaving the U.S. for greener pastures, according to the Harris Poll's survey conducted in February, are lower living expenses (49 percent), dissatisfaction with the current political leadership (48 percent), and a desire for a higher quality of life (43 percent).
They are looking at countries like Canada, the United Kingdom, Australia, France, Italy, Japan, Mexico, Spain, Germany, and New Zealand, as good options to relocate to.
Younger generations are especially interested in dual citizenship, according to the findings of the Harris Poll's survey. "Millennials and Gen Z are rethinking what success looks like—and where it can be found," Osieki said.
"Many feel boxed out of traditional milestones like homeownership, or worry that their rights and freedoms are being eroded. So instead of chasing an outdated version of the American Dream, they're chasing global opportunity," he explained.
"For these younger generations, dual citizenship isn't a luxury—it's a form of empowerment, a way to unlock better healthcare, more affordable living, and greater freedom to live life on their own terms."
Photo-illustration by Newsweek/Getty/Canva
Crucially, interest for dual citizenship is also growing among a very specific category in the country: wealthy Americans.
Henley & Partners, a company that helps international clients obtain residence and citizenship in other countries, reported a 183 percent increase in interest from U.S. nationals trying to get dual citizenship between the first quarter of 2024 and the first quarter of 2025.
Significantly, the company reported a 39 percent increase between the last quarter of 2024 and the first quarter of 2025 alone, demonstrating that interest in dual citizenship grew in the wake of Trump's election and his return to the White House.
While the U.S. is still a magnet for millionaires, centi-millionaires, and billionaires, as Henley & Partners data show, a growing number of wealthy Americans are actually looking for other options.
"So far in 2025, US citizens account for over 30 percent of all investment migration applications submitted through Henley & Partners—nearly double the combined total of the next five investor nationalities, which include Turkish, Indian, and British," Sarah Nicklin of Henley & Partners told Newsweek.
Other citizenship and residency advisory firms, including Latitude Group and Arton Capital, have reported similar increases in demand from U.S. nationals. Arton saw a 400 percent increase in U.S. clients in the first quarter of the year compared to a year earlier, while Latitude said U.S. applications for second citizenship or residency have surged by 1,000 percent since 2020, as reported by Al Jazeera.
These numbers reflect evolving perspectives among high-net-worth Americans.
"Most view investment migration as sophisticated risk management, creating a 'Plan B' that provides optionality for themselves and their families to relocate if they need or want to," Nicklin explained.
"Motivations include geopolitical risk diversification, enhanced global mobility, business expansion, educational and alternative healthcare access, and cross-border legacy planning for future generations."
These wealthy Americans are looking to get second passports from European countries, the Caribbean, and the South Pacific, Henley & Partners data show.
Dual citizenship, however, has a flip side—including keeping up with the U.S. tax system.
"The U.S. is one of the few countries that taxes its citizens no matter where they live, which means even with a second passport, you still have to report your worldwide income to the IRS," Kevin Marshall, a CPA and personal finance expert, told Newsweek.
"I've seen clients get caught off guard when they thought having dual citizenship would reduce their U.S. tax duties. It doesn't," he added.
"If anything, it makes it even more important to stay on top of your reporting. That's why anyone thinking about a second passport needs to understand what both countries require."
What Are The Options Available?
There are several ways to obtain a second citizenship or residency in another country for a U.S. national.
Countries like Ireland and Spain allow Americans to apply for citizenship if they can prove they have parents or grandparents from there, in a process that usually last between one and three years. Italy, which had a similar program in place for years, just announced this week that it will end it, causing uproar among American descendants of Italian migrants to the U.S.
Many countries allow U.S. nationals to apply for citizenship or residence through investment, with programs like the "Golden Visa" which involve buying real estate, purchasing government bonds, or other kinds of financial contributions. These schemes can cost between $10,000 and $1 million and they usually take between 12 and 16 months.
Why Are More Americans Interested In Dual Citizenship?
Marshall has also noticed a clear trend of more Americans, especially those with significant assets, applying for dual citizenship lately.
"People want options, and a second passport gives them just that," he told Newsweek.
"From a financial point of view, dual citizenship can open doors that aren't available with just a U.S. passport. Some countries offer access to banks that have stronger privacy rules or different investment vehicles," he explained.
Certain countries offer more flexibility in terms of taxes, especially if an individual is structuring international assets or looking to diversify. "When someone is already thinking about estate planning, wealth preservation, or international business, having legal status in another country just makes planning more effective," Marshall said.
But there is more than just financial opportunism behind the sudden rise in interest in dual citizenship among Americans.
"There's also a growing sense that things are a little less stable at home than they used to be," Marshall said. "We've seen political shifts, healthcare disruptions, and economic uncertainty, and for people who have the means, being able to step away and settle elsewhere—even temporarily—is seen as a smart way to protect themselves and their families."
That may be better access to schools abroad, smoother travel, or just knowing there is another place to go if things turn really bad. "This kind of flexibility has become a serious part of personal planning," Marshall said.
"What's interesting is that this shift isn't just about wealth or status," he added. "The world feels more unpredictable than it did a decade ago, and people are responding in practical ways. Dual citizenship is one of those ways. It's not just a luxury anymore—it's part of a well-rounded financial and personal strategy."
According to Osieki, dual citizenship is quickly becoming the modern safety net in the U.S.
"With economic pressures mounting, political division deepening, and growing concerns about personal rights, Americans are no longer just toying with the idea of living abroad—they're taking steps to make it happen," Osieki said.
"It's not about abandoning the U.S.—it's about creating options. A second passport gives people mobility, security, and the freedom to build a life on their own terms—wherever that may lead."
Among Henley & Partners' clients, some of the most cited reasons and concerns behind getting a second passport include the current political situation, with some saying the country no longer represents their values; others cite what they see as the end of democracy; growing antisemitism; concerns that same-sex marriages, as well as mixed marriages, may be nullified, and parents of transgender children express concern about their future.
Is The U.S. About To Face An Exodus Of Residents?
Experts agree that growing interest in dual citizenship won't bring forward a mass exodus of Americans any time soon.
"Most American clients we engage with are primarily wanting a Plan B or option to relocate if they need or want to but almost all of them say they don't want to leave the U.S., even temporarily," Nicklin said. "They just want to have something in place so that they have the option if it becomes necessary."
But growing interest in a second passport shouldn't be considered a small, neglectable phenomenon either. According to Lesperance, most people don't like to move, abandoning their familiar life for one that is widely unknown. And they only move where they know they can meet their family's needs.
For some U.S. households, these needs may leave them no other option than moving abroad. After Trump signed an executive order aimed at restricting gender care for individuals under the age of 19 in late January, Lesperance got several new clients with trans children.
"I got seven clients, seven families with trans children in nine days," he said. "That's a pretty specific group of high-net worth families with trans children. Those people were under direct threat. They could smell the smoke from the wildfire."
Others might never trigger their "fire escape plan," Lesperance said, but they want to know they have one.
"This isn't about a mass migration overnight—but we are at a tipping point," Osieki said. "One in five younger Americans say they're seriously considering moving abroad, and that kind of intent matters. So, while it may not be an exodus yet, it's certainly a movement, and it speaks volumes about how people are feeling about life in the U.S. right now," he said.
"The American Dream may not be ending—it could simply be relocating."