US Midterms 2026: Plan B Residency and Second Passports for Americans

For many citizens, the lead-up to any election cycle prompts a period of reflection and planning. Creating a plan B for Americans is less about reacting to short-term political headlines and more about long-term strategic diversification for personal and financial resilience. With the next US midterm elections scheduled for 3 November 2026, forward-thinking individuals are using this date as a marker to assess their global options, not as a deadline.

This article explores the primary pathways to securing a second residency or citizenship for US citizens. It is crucial to understand from the outset that none of these routes will be completed before the 2026 election date. The processes are meticulous, involving significant due diligence and bureaucratic steps. Therefore, the decision to pursue a second passport or residency is a strategic one for the years to come, providing a hedge against future uncertainty and unlocking a new realm of global access. The goal is not to escape but to expand, securing more freedom, opportunity and stability for you and your family.

This guide is strictly non-partisan. It does not comment on any political party, candidate or policy. Instead, it focuses on the practical steps and strategic considerations involved in building a robust international plan, treating a second residency or passport as a form of personal insurance in an unpredictable world.

Why Americans build a Plan B

The impulse to establish a 'Plan B' is rooted in the principles of diversification that apply to any sound financial or life strategy. Investors diversify portfolios to mitigate risk and individuals seek secondary options to ensure stability regardless of the domestic climate. For Americans, this is not typically driven by a desire to renounce their US identity but to augment it with additional layers of security and freedom. The US passport remains a powerful travel document, ranked 10th globally in the July 2026 Henley Passport Index, but a second passport provides unparalleled resilience.

A secondary citizenship or residency offers a powerful hedge against a wide spectrum of risks. This includes potential economic volatility, shifts in domestic policy that might affect personal or financial freedoms and social or political polarisation. Having the legal right to live, work and study in another country or economic bloc, such as the European Union, provides a safe harbour and a world of new opportunities that are independent of the situation in one's home country.

Beyond risk mitigation, a Plan B is about enhancing one's quality of life and global access. It can open doors to new business markets, superior educational institutions for children and different cultural experiences. For families, it provides a legacy of global mobility and opportunity that can be passed down through generations. The right to reside in a country with a different pace of life, a more agreeable climate or a specific cultural appeal is a significant lifestyle benefit. Ultimately, building a Plan B is about taking control of your future and ensuring that your life's trajectory is not solely dependent on the circumstances of a single nation.

The three main routes

For Americans considering their international options, the paths to a second residency or passport generally fall into three broad categories: investment, ancestry and, in some cases, exceptional talent. Each route has distinct requirements, timelines and outcomes. The most common and accessible pathways are residency by investment, citizenship by investment and citizenship by descent.

Residency by Investment (Golden Visas)

This route involves making a significant financial investment in a country's economy in exchange for the right to reside there. These programmes, often called 'golden visas', grant a residence permit that can be renewed and, after a number of years, may lead to permanent residency or citizenship. This is an excellent option for those who wish to gain a foothold in a specific region, like Europe and are prepared for a longer journey to a passport.

• Portugal: The Portugal Golden Visa remains a popular choice, though its rules have evolved. As of 2026, the main pathway requires a minimum investment of EUR 500,000 into eligible investment or venture capital funds, as detailed in our guide. Direct real estate investment is no longer a qualifying option. A significant change in the nationality law means that applicants now need to hold legal residency for ten years before they can apply for Portuguese citizenship.

• Greece: The Greek Golden Visa programme offers more accessible entry points. According to our guide, options start at EUR 250,000 for investments in the conversion of commercial properties to residential or the restoration of listed buildings. The standard real estate investment threshold is EUR 400,000, rising to EUR 800,000 in designated high-demand areas. A key advantage of the Greek programme is that it grants a five-year renewable residence permit with no minimum stay requirement to maintain it.

• Italy: Italy's Investor Visa offers another path into the EU. The programme provides several options, with one of the most accessible being a EUR 250,000 investment in an innovative Italian start-up company. This grants an initial two-year residence permit, which can be extended. Like other residency routes, it can eventually lead to long-term residency and citizenship after meeting a substantial residency requirement, typically ten years.

Caribbean Citizenship by Investment (CBI)

For those seeking a second passport more directly, Caribbean citizenship by investment programmes offer the fastest legitimate route. These programmes grant full citizenship and a passport in exchange for a significant financial contribution to the nation's economy, usually in the form of a non-refundable donation or an investment in approved real estate.

While often marketed as 'fast-track', these programmes still involve rigorous due diligence processes that take several months. They are an excellent choice for individuals whose primary goal is to acquire a strong second passport for travel, security and diversification, rather than establishing residency in a specific country. You can learn more about the best citizenship by investment options for US citizens in our dedicated guide.

• St Kitts and Nevis: As the world's oldest CBI programme, St Kitts and Nevis is a well-established option. The primary route is a contribution to the Sustainable Island State Contribution (SISC). Our guide indicates the minimum contribution for a single applicant is US$250,000.

• Grenada: Grenada's programme is also highly regarded, partly because its passport offers visa-free access to China and it is the only Caribbean CBI country with an E-2 investor visa treaty with the US. The government amended the contribution requirements in 2026, so applicants should consult the official government CBI unit website for the most current figures.

Citizenship by Descent

Before exploring investment-based options, it is always wise to investigate your family tree. Citizenship by descent is by far the most cost-effective way to gain a second passport. If you have a parent, grandparent or in some cases a great-grandparent from another country, you may be eligible to claim citizenship based on your ancestry. This route typically involves gathering official documents and navigating a bureaucratic application process, but the financial outlay is minimal compared to investment programmes.

• Ireland: Many Americans with Irish roots may qualify. If you have a parent who was an Irish citizen at the time of your birth, you are automatically an Irish citizen. If you have a grandparent born in Ireland, you can become a citizen by registering on the Foreign Births Register. For adult applicants, the fee was EUR 278 in 2024. Processing times, as stated on official sources, are typically around 9 to 12 months. Read our guide on claiming Irish citizenship by descent.

• Italy: Italian ancestry is another common path for Americans. However, it is important to be aware of recent changes. As noted in our guide to Italian citizenship by descent, a law passed in 2025 has limited the claim to two generations in most cases (i.e. through a parent or grandparent). The old rules, which allowed for claims stretching back to 1861, no longer apply for new applications.

• Canada: The rules for Canadian citizenship by descent were also recently reformed. Bill C-3, which came into force on 15 December 2025, changed the regulations regarding the passing of citizenship to children born abroad. Anyone considering this route should carefully check the new rules to see if they are eligible.

Route Comparison

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US tax points

A critical and often misunderstood aspect of expatriation for Americans is taxation. The United States operates a system of citizenship-based taxation. This means that all US citizens are required to file a US tax return and pay taxes on their worldwide income, regardless of where they live or how many other passports they hold.

Securing a second residency in Portugal or a second passport from St Kitts and Nevis will not, by itself, change your US tax obligations. You will still be subject to IRS reporting requirements for your global income and foreign financial assets. This is a non-negotiable part of retaining US citizenship.

The only way to end your US tax obligations is to formally renounce your US citizenship. This is a serious, irrevocable decision with significant legal and financial consequences, including a potential 'exit tax'. We provide a detailed overview of this process in our article on the US exit tax and renouncing citizenship. For anyone building a Plan B, it is absolutely essential to consult with a qualified US tax professional who specialises in expatriate tax matters to understand your ongoing obligations and the implications of any decisions you make.

For the wider context, read our full does the us allow dual citizenship? 2026 rules for americans.

Realistic timelines

It is vital to have realistic expectations regarding timelines. As stated earlier, no residency or citizenship programme can be completed in a matter of weeks and none will be finalised before the US midterm elections on 3 November 2026. This entire endeavour must be viewed as part of a long-term Plan B citizenship strategy.

Citizenship by descent, while the cheapest route, is not always the fastest. The Irish process takes around 9 to 12 months, but other countries can have backlogs that stretch for several years. Citizenship by investment programmes, like those in the Caribbean, are faster than investment-based residency routes that lead to eventual citizenship. Even so, they involve comprehensive due diligence and background checks that take a minimum of four to six months and often longer depending on the complexity of the application and the efficiency of the processing unit at that time. Always check the official government source for the most up-to-date processing estimates.

Residency by investment programmes grant you residency rights relatively quickly, often within a year of applying. However, the path from residency to citizenship is a marathon, not a sprint. In Portugal, the requirement is now ten years of legal residency. In Italy and Greece, it is also ten years. This timeline requires patience and a long-term commitment to maintaining your residency status in the host country according to its specific rules, which may include periods of physical presence.

How to choose

Choosing the right pathway depends entirely on your personal circumstances, goals and resources. There is no single 'best' option, only the one that is best for you. Follow a logical process to narrow down your choices.

1. Check Your Ancestry First: Before considering any investment, thoroughly research your family tree. If you qualify for citizenship by descent through a country like Ireland, Italy or Canada, this will almost always be the most direct and affordable route to a high-quality second passport.

2. Define Your Primary Goal: What is the main driver for your Plan B? Is it the immediate acquisition of a second passport for travel freedom and security? If so, a Caribbean CBI programme might be the most suitable option. Is your goal to gain the right to live, work and study in the European Union? In that case, a golden visa for Portugal, Greece or Italy would be the appropriate starting point, even with the long path to citizenship.

3. Assess Your Budget and Risk Tolerance: Investment-based routes require significant capital. Be realistic about what you are able and willing to invest. A non-refundable contribution to a Caribbean government is a sunk cost, whereas an investment in a European fund or property is an asset you retain, though it comes with market risk and must be held for a specified period.

4. Consider Your Personal Connection and Lifestyle: Where do you see yourself and your family potentially spending time? A golden visa in Greece may seem appealing financially, but if you have no interest in the Mediterranean lifestyle, it may not be the right fit. A connection to the country you choose, whether through ancestry, business or personal affinity, will make the process and the outcome more meaningful.

5. Seek Professional Advice: The investment migration landscape is complex and constantly changing. Working with experienced advisors is crucial to navigate the legal, financial and procedural hurdles. They can provide a personalised assessment of your eligibility and help you select the programme that best aligns with your long-term objectives.

If you are weighing destinations, our guide to the best countries for Americans to move to compares the main options.

Frequently asked questions

What is a Plan B for Americans?

A Plan B for Americans is a proactive strategy to secure a second residency or citizenship in another country. It is not about leaving the US immediately but about creating long-term options for lifestyle, business and personal security. This acts as a hedge against future domestic uncertainty and expands global access for an individual and their family.

How can I leave the US permanently?

Permanently leaving the US involves more than just moving. Legally, it requires establishing residency in another country. To end US tax obligations, one must formally renounce US citizenship through a process at a US embassy or consulate. This is a serious, irrevocable step with significant financial and legal implications, including a potential exit tax and requires expert legal and tax advice.

What are the best countries for Americans to move to?

The 'best' country is subjective and depends on your goals. For EU access and lifestyle, countries with golden visa programmes like Portugal, Greece and Italy are popular. For English-speaking environments with strong economies, countries like Canada and Ireland are excellent choices, especially if you qualify for citizenship by descent. Your personal and professional priorities will determine the best fit for you.

Will a second passport stop me from paying US taxes?

No. The US taxes its citizens on their worldwide income regardless of where they live or what other passports they hold. Acquiring a second citizenship does not change this obligation. Only the formal renunciation of US citizenship can terminate your duty to file and pay US taxes. You should always consult with a US tax professional who specialises in expatriate issues.

What is the cheapest way to get a second passport?

The cheapest way by far is citizenship by descent. If you have a parent, grandparent or sometimes even a more distant ancestor from a country that allows you to claim citizenship, the cost is limited to administrative fees, document collection and legal assistance. This is significantly less expensive than any investment-based programme, which requires hundreds of thousands of dollars.

Can I buy a European passport?

Not directly. You can, however, enter a pathway that leads to a European passport. Programmes like the golden visas in Portugal, Greece or Italy allow you to obtain residency by making a significant investment. After maintaining this residency for a required number of years (often ten) and meeting other criteria like language tests, you can then apply for citizenship and a passport.

How long does it take to get a second citizenship?

Timelines vary dramatically. Citizenship by descent can take anywhere from under a year (Ireland) to several years depending on the country. Caribbean citizenship by investment programmes typically take between four and twelve months. Residency by investment routes in Europe grant residency within a year, but the journey from residency to citizenship is a long-term commitment, usually taking ten years.

Is my US passport not good enough?

The US passport is a very strong travel document, ranking 10th globally as of July 2026. However, a Plan B is not about replacing a 'bad' passport but about adding resilience. A second passport from a different geopolitical bloc provides visa-free access to different countries, diversifies your travel options and ensures you have freedom of movement even if one passport faces temporary restrictions.

Do I have to give up my US citizenship?

No. The United States allows its citizens to hold dual citizenship. You do not need to renounce your US citizenship to become a citizen of another country. You can hold both passports simultaneously. Renunciation is a separate, voluntary and irreversible process that some individuals choose to undertake for tax or personal reasons, but it is not a requirement for getting a second passport.

What is a golden visa?

A golden visa is a residency by investment programme. It is a pathway for foreign nationals to obtain a residence permit in a country in exchange for making a significant investment in that country's economy. This investment can be in real estate, government bonds, a business or an investment fund. The residence permit is typically long-term and renewable and can lead to citizenship after a number of years.

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Sources

• Henley & Partners Passport Index, July 2026
• Internal Revenue Service (IRS), US Citizens and Resident Aliens Abroad
• US Department of State, https://travel.state.gov
• Official government websites for the respective investment migration programmes