Residence and citizenship planning is reshaping global wealth strategies

As wealthy families seek greater optionality, resilience, and diversification, residence and citizenship planning has become a core pillar of private client advisory. Henley & Partners’ Group Head of Private Clients Dominic Volek explains the forces redefining millionaire mobility — from surging U.S. demand to the ongoing appeal of European programmes and the new era of ‘sovereign diversification’

The movement of wealthy individuals across borders has become one of the most important and closely watched trends in global finance. Governments are tightening residency rules, reviewing tax regimes, and strengthening due-diligence checks, while investors are spreading their lives and assets across multiple jurisdictions to manage risk. These developments have pushed residence and citizenship planning into the mainstream of private-client strategy, where it now sits alongside tax, succession, and investment advice rather than being treated as a niche concern for frequent travellers.

Henley & Partners has pioneered this evolution, advising clients on how to build mobility and security into their long-term planning and tracking the movement of high-net-worth individuals across dozens of programmes each year. Demand has risen quickly, with US-Americans one of the fastest expanding nationalities seeking additional global options. European residence programmes hold their appeal to investors seeking stability, while governments from the Mediterranean to the Indian Ocean are redesigning their frameworks to attract the world’s wealthiest and most talented individuals while meeting tougher international standards.

Dominic Volek, Group Head of Private Clients and a member of the firm’s Executive Committee, works directly with families who are making these decisions. His perspective reflects the two dominant forces of rising geopolitical uncertainty and a regulatory environment that demands greater precision each year. Clients increasingly treat mobility as part of their wider wealth strategy, while governments view residence and citizenship programmes as instruments for economic development and long-term planning. That combination of private demand and state policy is, he says, reshaping the sector.

In this wide-ranging interview, Volek discusses the surge in applications from U.S. nationals, the continued strength of European programmes, the rising tide of migrating millionaires, and the growing interest in ‘sovereign diversification’ as a form of personal risk management. He also outlines how compliance expectations, government partnerships, and ESG-driven priorities are shaping the next phase of residence and citizenship planning.

The European: How is Henley & Partners adapting its services to meet the surge in demand from U.S. nationals who now account for a significant proportion of all applications?

Dominic Volek: We have witnessed a significant shift in the profile of our clients in recent years, with U.S. nationals now comprising almost 40% of all applications globally. By the end of October 2025, applications from U.S. nationals had already surpassed the total for 2024 by 77%. To contextualise: we processed applications from 93 different nationalities residing in 88 different countries in 2025.

Henley & Partners foresaw this shift, and the sentiment behind it is clear: high-net-worth Americans are increasingly thinking like global risk managers, building a ‘sovereign portfolio’ of residences and second citizenships to obtain greater flexibility, security, and peace of mind — not necessarily to pack up and leave the U.S.
Rather than a single backup passport, many want a calibrated mix of options that lets them live, work, invest, and educate their children across jurisdictions if circumstances change, while keeping America as their home base. This portfolio mindset is also a reaction to a world that feels more legally and geopolitically volatile. In short, it’s about optionality and resilience: tangible mobility assets that protect families, expand opportunity, and keep doors open in an unpredictable future, without requiring a physical relocation.

Our established best-in-class onboarding and compliance systems are particularly well suited to the complex regulatory landscape faced by U.S. clients, ensuring a seamless and fully compliant process from start to finish. Combined with our holistic advisory model — integrating residence and citizenship planning with global wealth and legacy structuring — this enables us to deliver truly comprehensive, future-focused solutions for American families seeking greater global flexibility.

With Malta retaining the top spot in the Henley Citizenship Program Index and Greece leading the Henley Residence Program Index for the first time last year, what factors are driving the dominance of European programmes?

Europe continues to be the global benchmark, primarily due to its combination of strong governance, political stability, and lifestyle appeal. Malta’s success lies in its rigorous due diligence, transparent legal framework, and EU membership. Greece, meanwhile, has transformed its residence programme into a model of accessibility and investment value, offering real estate-linked pathways with attractive yield potential and access to the Eurozone.

What we are seeing is a convergence of quality and credibility. European programmes are gateways to enhanced mobility and also serve as strategic footholds for global investors seeking opportunity, resilience, security, premium education and healthcare, and diversified asset protection. For discerning clients, Europe remains the gold standard in balancing lifestyle aspirations with long-term stability.

What are the key motivations behind the projected migration of 165,000 millionaires this year, and how is Henley & Partners positioning itself to serve this demographic?

The projected movement of a record-breaking number of millionaires in 2026 reflects a broader realignment of global wealth — driven by factors such as geopolitical instability, changes to established tax regimes, and concerns about personal safety and governance. Increasingly, wealth holders are looking beyond traditional financial diversification to what we term ‘sovereign diversification’ — ensuring that families and their assets are spread across, or at least have access to, a range of jurisdictions.
Henley & Partners is uniquely positioned to guide this growing cohort of transnational families. With more than 70 offices worldwide and access to over 60 residence and citizenship programmes, our Private Client practice delivers strategic, highly tailored planning aligned to each client’s global footprint. Backed by our market-leading research and thought leadership, we provide unrivalled, data-driven insight into where wealth is concentrated, how it is moving, and why — helping clients and partners anticipate the wealth and lifestyle hubs of the future.

How do you advise clients navigating geopolitical instability, especially those seeking mobility insurance or safe havens amid rising global tensions?

Our role is to help clients future-proof their lives and secure their legacies. In a world characterised by unpredictable conflicts, shifting alliances, and economic volatility, mobility insurance — the ability to relocate swiftly and securely — has become an essential form of geopolitical risk management.

Our advice is always grounded in rigorous analysis. The findings of our inaugural Global Investment Risk and Resilience Index underscore how divergent national capacities are to absorb shocks shaping global investor sentiment. The index measures 150 countries across six key pillars — including economic resilience, social stability, and institutional strength — offering clients an empirical framework for assessing relative risk and opportunity.

We integrate these insights into our advisory process, aligning each client’s residence and citizenship portfolio with jurisdictions that demonstrate long-term resilience, strong rule of law, and neutral foreign policies, as well as world-class healthcare and education systems. Whether it’s an entrepreneur in Asia seeking a foothold in the Eurozone, a European family diversifying its domicile strategy to hedge against regional political shifts, or a family in the Middle East looking for generational security, our guidance combines data-driven geopolitical foresight with highly personalised strategy.

What impact is the tightening of due diligence and AML regulations having on programme design and client onboarding?

The tightening of AML and due diligence regulations globally is raising standards across the entire alternative residence and citizenship ecosystem — a development Henley & Partners has consistently supported. Strengthening compliance frameworks not only protects the integrity of individual programmes but also reinforces confidence among governments, investors, and international stakeholders.

A good recent example is the Grenada Citizenship by Investment Program, which announced a new suite of enhanced compliance measures that came into force in November 2025, fully aligned with international AML standards and reinforcing the programme’s commitment to transparency, legitimacy, and investment traceability.
For clients, these elevated requirements underscore the importance of working with a trusted advisory firm that can navigate increasingly complex compliance landscapes. At Henley & Partners, we maintain robust, industry-leading compliance infrastructure and partner with globally recognised due diligence specialists to ensure that every application meets — and often exceeds — the highest international standards.

How is Henley & Partners supporting governments in developing innovative residence and citizenship programmes that align with their long-term national strategies?

Over the past two decades, Henley & Partners’ Government Advisory practice has raised more than US$15 billion in foreign direct investment, designing and implementing some of the most successful programmes worldwide, and assisting sovereign states in building transparent, future-ready frameworks that balance economic growth with reputational integrity.

Most recently, the Government of the Maldives appointed us to design and globally position its first residence by investment programme, the Maldives Pearl Residence programme. The initiative supports President Dr. Mohamed Muizzu’s Vision 2040 to build a more resilient, diversified, fully developed economy, while attracting global investors and ultra-high-net-worth individuals seeking exclusive Indian Ocean lifestyle and investment opportunities that are aligned with the country’s long-term goals.

In Saudi Arabia, our work focuses on globally positioning the Saudi Premium Residency Law, which forms part of the Kingdom’s Vision 2030 strategy to diversify its economy and attract international talent and investment. These partnerships illustrate how carefully structured frameworks can serve as powerful tools for national transformation — fostering sustainable growth, enhancing global competitiveness, and creating new pathways for economic resilience and prosperity.

What role do ESG and sustainability considerations now play in shaping client preferences and programme development?

Environmental, Social, and Governance considerations play a meaningful role in both client decision-making and government programme design. Increasingly, investors want their mobility and investment choices to support broader environmental or social objectives, rather than merely providing greater access and diversification.

Insights from our Citizenship by Investment: Sustainable Climate Finance for Governments report, produced with the Climate Vulnerable Forum, highlight how well-structured residence and citizenship programmes can help channel private capital into climate resilience and sustainable development projects. Several governments are already moving in this direction. Nauru’s Economic and Climate Resilience Citizenship Program, for example, explicitly links investor participation with national climate-adaptation priorities.

For clients, this alignment between mobility, impact, and long-term resilience is increasingly attractive. For governments, it strengthens programmes’ credibility and ensures that they contribute meaningfully to sustainable national development.

Beyond acquisition, what long-term services — such as relocation support, tax optimisation, or legacy planning — are you expanding to meet evolving client expectations?

Acquiring an alternative residence or citizenship is often just the starting point of a much broader transformation of one’s global life. Increasingly, our clients seek long-term guidance that brings together mobility, wealth structuring, family strategy, and lifestyle aspirations. Our service offering has evolved to provide seamless support well beyond the application phase.

We assist families with the practical realities of relocation — from education planning and university placement for children, to the lifestyle considerations that accompany a move to a new jurisdiction, including any concierge services that may be needed. Our clients also rely on us to help them navigate the cross-border tax implications of a more international life. Through our global network of leading tax specialists, we ensure they receive coordinated, compliant advice that aligns with their broader wealth-planning objectives.

Many clients look to us for support in shaping the non-financial dimensions of their legacy, whether that involves acquiring and managing rare collectibles, developing impactful philanthropic strategies, or investing in well-being and longevity. And of course, our relationship continues long after approval, as we manage ongoing programme requirements, renewals, and any future adjustments as their circumstances evolve.

Civis Mundi is our international membership network where members can access carefully curated, closed-door events, and are part of a unique community of like-minded global citizens.

Ultimately, our role is to act as a trusted strategic partner — helping families design and sustain truly global lives with the clarity, continuity, and confidence that long-term success requires.

Further Information
Produced with support from Henley & Partners. To find out more about the firm’s global residence and citizenship services, visit www.henleyglobal.com

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