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IPFS News Link • Trump Administration

Rich Dems Worried About Trump Are Buying Second Citizenships

• https://news.yahoo.com,Emily Shugerman,Noah Kirsch

For years, David Lesperance, an immigration attorney who helps wealthy Americans obtain second citizenships, saw a similar type of client: millionaire MAGA-heads, Silicon Valley libertarians, new-money crypto investors—basically, rich guys who wanted out of the U.S. tax system. But in recent months, he's seen an increase in a surprising clientele: moneyed liberals who are terrified about the political future of the country and want an escape plan.

"I was on vacation two weeks ago, I answered emails and I set up phone calls for when I came back," Lesperance said. "In the last week I had nine new inquiries. Typically I may get one or two a week."

So-called "golden visas" have become a white-hot status symbol among the ultra-rich in recent years. Some 30 countries now offer citizenship or residency by investment, which allows individuals to live and work in a foreign country simply by spending a lot of money there—a second citizenship starts at several hundred thousand dollars and stretches to several million. For a time, the clientele was also fairly conservative, driven by fears of a pending liberal "wealth tax" or—for the tech bros—a pending IPO that would result in a massive taxation event. Now, however, the demographics have begun to shift dramatically.


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