The Market Is Shifting
Purchasing a second passport was once the privilege of the ultra-wealthy, but now investment migration advisory firms report that the landscape is changing as more middle-class Americans buy second passports. Data from Immigrant Invest, one of the largest firms in the industry, shows a clear shift: professionals and retirees now account for 25% of consultations, up from 15% in 2025.
This is no accident. The company's traditional client base—including ultra-high-net-worth investors, entrepreneurs, and business owners—has declined from roughly 50% in 2026 to 40% in 2025 among consultations at the firm's U.S. offices. In other words, the market is being "democratized"—not because programs are cheaper, but because demand has changed.
Why Do Ordinary Americans Want a Second Passport?
More and more middle-class Americans with savings are seeking a "Plan B" amid growing political polarization and global geopolitical instability. This is not an impulsive decision. This group includes doctors, tech workers, academics, real estate brokers, and lawyers, as well as retirees with personal savings.
An advisor at Immigrant Invest notes that the cost of citizenship programs has remained relatively stable in recent years. This means it is not because programs have become cheaper, but rather that American psychology is shifting. They want options—not necessarily to leave the United States, but to have an exit strategy if needed.
Important Cautions
However, for wealthy Americans, obtaining additional citizenship generally does not eliminate their U.S. tax obligations, but does provide the freedom to live, travel, and work abroad. This applies to all Americans, not just the wealthy. A U.S. citizen with dual citizenship still bears full responsibility for U.S. federal income taxes, requirements to report foreign bank accounts, and all other obligations that apply to Americans.
Additionally, Americans with dual citizenship may face barriers to certain types of employment, military service requirements in another country, double taxation, and limited assistance abroad. A second passport is not a "golden ticket"—it is a tool with its own costs and risks.
Popular Options
In most cases, the process takes approximately 2 to 10 months and costs $90,000 to $400,000. Countries offering citizenship through investment include St. Kitts and Nevis, Grenada, St. Lucia, Antigua and Barbuda, Dominica, São Tomé and Príncipe, Nauru, Vanuatu, Turkey, and Egypt. These are the programs that advisors at Immigrant Invest report are most popular among American clients.
This trend demonstrates that the investment passport market is no longer a game for the ultra-wealthy. But it also means you need to understand exactly what you are buying—and what you will have to contend with afterward.
