When it comes to fleeing California, the Golden State’s wealthiest residents aren’t only considering locations within the U.S.
A rising number of them are using their capital to seek residency and citizenship outside the country, motivated by fear of political instability in the U.S., my colleague Audrey McGlinchy reports.
Tech billionaire and former Californian Peter Thiel is pursuing citizenship in Argentina out of a concern for where the U.S. seems to be headed, including a tax on billionaires in California that will go to voters later this year.
Interest in citizenship by investment surged in 2020, when wealthy people felt trapped by pandemic lockdowns and the restrictions countries put on nonresidents, according to heads of citizenship-by-investment firms.
In 2024, when Trump was elected a second time, interest shot up again, especially from Democrat-heavy states such as California.
Here’s more on citizenship by investment and why interest from wealthy Californians continues to skyrocket.
What’s a golden visa?
With the golden visa program, often called citizenship by investment, individuals who invest a hefty amount of money into a country, either through buying property or direct investment, can more easily become permanent residents or citizens.
Firms say Californians now make up as many as 1 in 5 clients from around the globe seeking residency in another country, which isn’t entirely surprising since the state is home to a large number of the world’s wealthiest people.
Additional residency as a backup plan
Although many Californians are pursuing residency or citizenship elsewhere because they are worried about the political future of the country, they don’t have concrete plans to move to these newly claimed nations.
Many of these countries make it easy for wealthy Americans as they don’t require you to live there full time to maintain permanent residency.
“This is a little bit like having an insurance policy,” said Paul Williams, chief executive and founder of La Vida Golden Visas, a firm based in London. “You don’t know if your house is going to burn down or if a plane is going to crash into it, but you take out the policy just in case.”
Residency in European countries
In Europe, the most popular residency programs tend to be in Portugal and Malta.
Most wealthy Americans, and particularly Californians, are interested in residency in a European nation because it allows them to live or work in more than two dozen countries in the European Union.
The amount of capital needed to obtain residency and eventual citizenship varies. In Portugal, it is typical for a family to invest 500,000 euros — equal to about $579,000 — in a capital venture or private equity fund, with the requirement that a little more than half of the funds be invested in Portuguese businesses.
Residency seekers can also start a business in the country and invest a smaller amount — about 175,000 euros, or about $200,000.
The government requires applicants to spend at least two weeks in Portugal for the first two years of their residency visa. It can take up to five years to qualify for permanent residency and a decade or more to become a citizen, plus applicants must demonstrate some understanding of the Portuguese language.
Although it’s not in Europe, New Zealand has been eyed by wealthy Californians for residency. It offers an even faster path to residency than many European countries, requiring that an applicant invest at least NZD 5 million — about $3 million — into managed funds or businesses and can take as little as three years to qualify for permanent residency.
If you could afford to pursue residency outside the U.S. using “golden visa” programs, where would you choose?
Top stories
(Lauren Bishop / CDC via AP)
Mosquitoes and more are turning California into a disease hot spot
- California is emerging as a hot spot for diseases spread by mosquitoes, ticks and fleas, with rising cases of West Nile virus, dengue, flea-borne typhus and other infections.
- A record March heat wave fueled native Culex mosquitoes, driving tenfold increases in positive mosquito samples in L.A. County and a surge in West Nile-positive birds statewide.
Aging Californians aren’t leaving their longtime homes
Inside the bitter war over cows and wilderness at Point Reyes
- The cherished Northern California park is again a political battleground as the Trump administration’s pro-cattle agenda collides with decades of efforts to restore its native ecosystems.
- After a 2025 settlement paid 11 of 13 ranching families millions to leave the park, two holdout ranches sued, seeking to upend the deal.
California planned a nuclear exit. Now it’s reconsidering
- California’s last nuclear plant, Diablo Canyon, was supposed to shut down in 2025. Now, a growing coalition is pushing to extend that to 2045.
- Supporters say soaring demand for electricity for AI data centers and EVs is colliding with California’s push for 100% clean power, leaving a stubborn gap in round-the-clock, low-carbon supply that should be met by nuclear.
More news
Commentary and opinion
Editor’s pick
More picks
Things to do
The Sig Burrito, left, and the BB burrito at Sobuneh in West Hollywood.
(Shelby Moore / For The Times)
Today’s recipe
Ingredients for pancetta vinaigrette.
(Stephanie Breijo / Los Angeles Times)
When the summer New York City heat turned his ripe summer tomatoes into a juicy heirloom mush, The Times’ cooking editor Cody Reiss created this recipe for pancetta, tomato and pickled pepper vinaigrette. In addition to the busted tomatoes, he used the liquid from some peppers he’d pickled, a chunk of feta, some garlic and shallot and a few herbs from the garden. The resulting dressing was a revelation.
Question for you
Which is your favorite SoCal airport? Email us at [email protected], and your response might appear in the newsletter this week.
Karen B. writes: It’s got to be SNA [John Wayne Airport.] It’s relatively small. Easy to get through check-in. It has many different airlines and they fly to so many locations. It may not be LAX but it’s so much easier to use. Plus it’s only minutes away from where I live.
Photo of the day
(Eric Thayer / Los Angeles Times)
Games
Here’s today’s mini crossword, plus our other free, daily crossword puzzle, sudoku, word search and jigsaw games.
Have a great day, from the Essential California team
Jack Dolan, investigative reporter
Hugo Martín, assistant editor, Fast Break desk
Kevinisha Walker, multiplatform editor
Andrew Campa, weekend writer
Karim Doumar, head of newsletters
Shi Bradley, audience intern
How can we make this newsletter more useful? Send comments to [email protected]. Check our top stories, topics and the latest articles on latimes.com.
