The rise in wealthy American applicants for citizenship or residency in foreign countries has been pronounced in the last three years according to report of Business Insider.

Evidence shows an increase of relatively 300% in US inquiries, which affected mostly by COVID-19 pandemic since during the lockdowns Americans were almost banned from entering the Europe.

In addition, other factors like high taxes, climate changing and political turbulence impact the industry of investor citizenship.

Among diverse investment opportunities, Portugal’s “Golden Visa” is the most favorable between Americans because it will grant free travel to 26 countries in Europe.

Besides that, it costs slightly over USD 200,000 and the applicants need to stay in Portugal only 7 days in a year and eventually they can apply for full-time citizenship.

However, according to some investment migration firms, most of the clients seeking for this option because they are unsure about the future of America and looking for safer plans for their families in the time of crisis.

With the large number of American investors there are some concerns about illegal money and dubious people to enter Europe as a result of careless background screening of some small firms in this field.