It is that time of the election cycle where the outcomes of politics lead some to fantasize about belonging to another country. This happens every election cycle on both sides of the aisle and is not an uncommon discussion in our client meetings. Money can buy you mobility and you have lots of choices! From a golden visa in Dubai, to purchasing real estate to buy your way in, to connecting with your lineage from a parent or grandparent; there are so many ways to access foreign passports. There are countries lining up to receive Americans with great assets to help support their economies.
But it can also be a minefield, so seeking professional help if you are serious, is vital.
Citizenship rules are not static!
Countries based on their appetite for new immigrants can open and close the gates at will. Italy and Portugal, for example, have recently made significant changes to who qualifies for citizenship through ancestry and other special routes. A person who qualified a few years ago may not qualify under today’s rules—and in some cases, new opportunities have also been created. Laws change. Eligibility can narrow.
Does the country allow dual citizenship?
Some countries require you to renounce your American citizenship, which is a significant step. Some of them include Austria, India, Japan, China and Singapore. You give up all your rights as a US citizen. You would have to surrender your passport, the right to vote, you would no longer have the automatic right to live, work and enter the US freely (you would be entering as a foreign visitor using a visa), you would lose diplomatic protections and assistance from US embassies while abroad. Your decision could be final and irrevocable.
If you have dual citizenship, could you be drafted for military obligations?
Yes, in some countries. There are many rules and exceptions within different countries – but this applies generally to South Korea, Israel, Greece, Finland and Turkey. Before claiming a second passport, find out what comes with it!
Which passport do you travel on?
Dual citizenship can even change which passport you need to travel. Britain recently began fully enforcing its Electronic Travel Authorization system. An American visitor generally needs an ETA—but a dual British-American citizen cannot obtain one because Britain considers that person British and already entitled to enter the country. As a result, British dual citizens traveling to the UK generally need to demonstrate their status with a valid British passport or a Certificate of Entitlement to the Right of Abode linked to their other passport. A dual citizen who previously travelled to Britain simply using a U.S. passport may therefore find that possessing British citizenship now creates an additional documentation requirement.
Taxes, taxes, taxes
International tax law and treaties are a convoluted maze. If you are a US citizen and gain dual citizenship or work abroad you are taxed in the us on your worldwide income. It does not necessarily mean that you are taxed twice if there are treaties between countries, but it generally means you have to file tax returns in two (or more) countries. You can also have reporting obligations even if there is little or no tax due. Most countries primarily base income taxation on residence rather than citizenship, but the United States is a notable exception. If you renounce your US citizenship and become a tax resident of your new country don’t be surprised that tax rates can be higher than the US.
Exit tax
Giving up U.S. citizenship can have significant tax consequences for affluent Americans. Under current law, certain people who expatriate are classified as “covered expatriates.” In 2026, that can include someone with a net worth of $2 million or more, someone whose average U.S. income-tax liability for the preceding five years exceeds an inflation-adjusted threshold, or someone unable to certify five years of federal tax compliance. For covered expatriates, U.S. tax law can treat many assets as though they were sold at fair market value immediately before expatriation, potentially triggering tax on unrealized gains.
Estate planning
Special rules can also affect subsequent gifts and inheritances to U.S. citizens and residents. Certain dual citizens from birth qualify for an exception if specific requirements are met. If you remain a US citizen the US taxes your worldwide estate wherever you are assuming it is over the Federal exemption limits. Other countries have aggressive estate taxation in reverse.
Before you rush to apply for another passport, make sure you have fully understood the ramifications of the country you have picked. And know that the rules change all the time and will continue to. As we head into the 2030s many western European countries, like the US, may be tempted to increase taxes to deal with significant government debt. And lastly, sometimes it is your own country that tries to change the rules. U.S. law currently permits Americans to hold another nationality, but in December 2025 Senator Bernie Moreno of Ohio introduced legislation that would prohibit dual citizenship. As written, the bill would require existing dual citizens to choose between their U.S. and foreign citizenship within one year of enactment. The proposal is far from becoming law: as of September 2026, it remains in the Senate Judiciary Committee and has only one cosponsor. Still, its introduction is another reminder that citizenship rules are determined by governments—and governments can propose changing them.
Stay on top of the rules and always seek professional citizenship, and international tax and estate advice.
