New Zealand’s golden visa is seeing a real spike, and the number is big enough to stop dealmakers mid-scroll. Henley & Partners, a firm that helps international clients obtain residency and citizenship abroad, reported a 183% increase in inquiries from US nationals between the first quarter of 2024 and 2025. The message behind the statistic is simple: as wealth-tax proposals gain attention in the US, ultrawealthy Americans are lining up alternative options abroad, often while they wait to see what actually happens domestically.

This is not just a “move tomorrow” story. The core pitch from advisors is that second passports are like “insurance” plans, meant to reduce risk even if the policy never gets used. David Lesperance, a lawyer who advises the ultrawealthy on tax and citizenship issues, compared preparing for the possibility of wealth taxes to wildfire risk: there is “a more than zero percent chance” that a wildfire will hit, so you buy “fire insurance and a fire escape plan,” hoping you never use it. That wildfire framing matches the reality of how capital, residence, and compliance work. Even the best tax plan takes time. A residency or citizenship pathway can take years. Meanwhile, policy debates can move slowly or suddenly. For many ultrawealthy families, the hedge is to start the clock early.

The pressure is coming from the growing political focus on taxes targeting extreme wealth. In California, voters are set to decide in November on a measure that would levy a one-time 5% tax on the state’s 200-plus billionaires. The story notes that Google cofounders Sergey Brin and Larry Page moved assets out of the Golden State ahead of the potential tax. Other wealthy Californians reportedly relocated to places like Florida, which has no state income tax. That local whiplash is exactly the kind of incentive advisors try to neutralize: if taxes can shift by state, then residence strategy becomes a moving target.

At the federal level, billionaire-tax legislation proposed by Sen. Bernie Sanders and Rep. Ro Khanna is described as unlikely to pass in the near future. And California’s current governor, Gavin Newsom, opposes the measure and is widely seen as a likely 2028 presidential contender. His argument, per the source, is that taxes on extreme wealth are better handled nationally because billionaires can move between states to avoid them. That framing matters for decision-makers outside politics because it implies a second-order outcome: when the US debate stays unresolved, people with mobility options respond by exercising them. The same dynamic that makes wealthy individuals rearrange addresses can, at the extreme end, push them to consider citizenship or residency outside the US.

Where does New Zealand fit? The source describes golden passports and golden visas, sometimes referred to as investment migration. These programs grant citizenship or residency in exchange for investments, with requirements varying by destination. Dominic Jones, managing director of Greener Pastures New Zealand, told Business Insider that over 120,000 investment citizenships or visas are issued annually worldwide, and that the number is growing. In New Zealand specifically, the golden visa requires an investment of about $3 million US dollars. Several Caribbean countries offer citizenship in exchange for investments of up to $250,000.

New Zealand’s own shift is partly policy-driven. The source says New Zealand relaxed the rules around its golden visa last year and, as a result, has seen a surge in applications from Americans. That timing helps explain the inquiry increase Henley & Partners reported. It is also why this is more than a one-country bet. Advisors describe a portfolio approach: while one pathway is processing, another can be pursued to avoid idle time.

Lesperance lays out one common sequence: start with lineage citizenship. Lineage citizenship lets people seek citizenship based on the nationality or descent of their parents or grandparents. The source gives an example of an American whose grandmother immigrated from Ireland applying for Irish citizenship. Over 50 countries offer citizenship based on descent, including Greece, Poland, Italy, and Germany, though rules and limits vary. For some clients, the EU angle is the practical payoff. Lesperance said that obtaining lineage citizenship in a European Union country can allow people to live in 27 different countries.

This is where the “insurance” metaphor gets real. Lineage citizenship can take years. So, as the source notes, clients might pursue faster citizenship options while waiting for lineage-based second passports to arrive. Saint Kitts and Nevis is highlighted as one destination offering citizenship for investments up to $250,000. The point is not that everyone needs an emergency exit next week. It is that the option value compounds. The source quotes Lesperance saying that clients might pursue investment citizenship, “get out,” and “save this much in tax,” but once they have an Irish passport, their Saint Kitts and Nevis passport may “collect dust in a drawer somewhere.” In other words, the plan is designed so it can be both unused and still valuable.

There is also a diversification argument that helps explain why some clients pursue additional citizenship with no intention of moving. Many already manage assets, businesses, and investments across jurisdictions. Advisors say an additional citizenship is another way to diversify, a backup option if the US becomes “more costly or less stable.” Jones adds a related line: they manage investments and focus on risk, and “They don't put all their apples in one basket.” For executives, investors, and board members, the takeaway is not that everyone should become immigration strategists. It is that when a tax regime becomes uncertain, the most mobile capital begins to reposition its risk profile early, across legal jurisdictions, not just spreadsheets.