Leaving the U.S.? What High-Net-Worth Individuals Need to Know About Emigrating, Post-Election

Donald J. Trump is the President-elect.

At the time of writing we still await the exact and final count of the Electoral College numbers. However, two things are immediately clear:

1. Republicans have won the White House, The Senate, and very likely the House of Representatives.

2. Many High Net-worth Individuals (HNWIs) now face a stark reality where threats to emigrate must meet the complex realities of international migration.

For some, the Republican sweep is a victory to celebrate. For others this election result may feel like the last straw. Celebrities and HNWIs including, Whoopi Goldberg, Cher, and Stephen King all directly stated their intention to relocate if Mr. Trump won re-election.

He has.

While the idea of simply buying a ticket sounds almost fun, emigration, is not as simple as packing a suitcase and setting off for a new country. For HNWIs, it involves intricate layers of legal, financial, and logistical planning that require a steady, strategic hand.

Moore Legal Counsel is here to help those ready to leave for greener pastures or more favorable political climates. In this article, we’ll discuss practical considerations for HNWIs seeking to emigrate, using the acronym "A.C.O.R.N" to break down the essentials.

• Appeal

• Concerns

• Optics

• Realities

• Nuances

By the end, you’ll have a clearer picture of what it really takes to transition from promise to plane ticket—and how Moore Legal Counsel can make that journey as smooth as possible.

The Appeal:

While there may be countless beautiful destinations across the globe, one unique appeal draws HNWIs toward emigration now: the absence of Donald Trump as president. For some, the idea of a Trump-led America in 2025 feels less like a beacon of freedom and more like an invitation to explore international horizons. And, as it happens, there is only one Donald J. Trump—he’ll be taking office in the United States, and nowhere else. For those who’ve felt that recent shifts in American politics don’t align with their values, relocating could offer both a sense of reprieve and the chance to settle in a country that feels more aligned with their personal and financial priorities. 

For HNWIs contemplating an international move, there’s no shortage of desirable destinations—each with its own unique allure. Canada and New Zealand attract those seeking political stability and a high quality of life, while Switzerland and Singapore offer advantageous tax regimes and banking systems tailored for those with significant assets. Meanwhile, Portugal stands out for its Golden Visa program, which provides a straightforward path to residency. Each of these locations offers distinct benefits, from privacy laws and business-friendly policies to cosmopolitan lifestyles. The key is to choose a destination that aligns not only with personal values but also with long-term financial and lifestyle goals.

The Concern:

For HNWIs, the idea of moving abroad goes beyond finding a new place to call home—it’s likely about liberating themselves from the perceived risks of a second Donald J. Trump Presidency. The Vice-President recently called Mr. Trump a ‘fascist.’ MSNBC and CNN both have extensively stated that Mr. Trump is a ‘threat to democracy’ and that his supporters are ‘racist’, ‘sexist’, and ‘violent.’ For those who subscribe to these views it may be imperative that you facilitate a smooth and prompt exit from the United States of America.

Timing, too, is essential. For those with specific Trump-related concerns, initiating the emigration process swiftly could be critical to mitigate any impacts of upcoming policies. However, the urgency to leave must be balanced with careful planning to avoid potential pitfalls—like double taxation, foreign asset regulations, and residency requirements that vary from one country to another. Moving too quickly without a structured plan could jeopardize the very financial or social protections that make emigration appealing in the first place.

The Optics:

For HNWIs, emigration is not merely a matter of logistics—it’s also a question of perception. Leaving the United States under the current political climate can attract public and media attention, especially if one’s wealth or status has been prominently tied to their American identity. An abrupt or poorly managed departure might create the impression of “fleeing,” which could risk a reputation built over years. For those in the public eye or with significant influence, maintaining a sense of dignity and control during the emigration process is essential to ensure that the move is seen as intentional and well-considered, rather than a reactive escape.

Additionally, there’s the challenge of preserving the social capital and influence that many HNWIs have accumulated. Emigration doesn’t mean leaving behind one’s reputation, network, or status; rather, it requires re-establishing these elements in a new country. Carefully crafting the optics of the move can help ensure that personal and professional relationships are maintained and that the individual’s influence continues to be recognized. With thoughtful planning, it’s possible to make an international transition without sacrificing the social standing and respect cultivated over a lifetime.

The Realities:

Emigrating as a HNWI involves navigating complex layers of legal, financial, and regulatory realities that go well beyond booking a ticket.

Many countries around the world have far more strict immigration policies. This impacts everything from entry requirements to investment opportunities. Tax implications present another challenge, with some nations imposing taxes on “imported” assets or adopting unique tax methodologies. To preserve wealth, emigrants must ensure their estate plans—wills, trusts, and other documents—align with local laws. Business owners and investors may need to restructure assets or adjust portfolios to meet foreign regulations. Lastly, there’s the big questions, including whether to retain U.S. citizenship and manage obligations under FATCA and FBAR. This section dives into these essential realities to prepare you for a smooth, well-planned transition abroad.

·       Residency Requirements and Immigration Laws

Residency requirements and immigration laws vary widely, with some countries offering relatively accessible paths for high-net-worth individuals, while others impose more stringent conditions. Canada, for example, provides residency options through federal and provincial investment programs, but these often come with rigorous criteria and longer processing times due to high demand. Switzerland, known for its exclusivity, typically requires substantial financial investments or contributions through wealth taxes, making it a selective choice for those with significant assets.

Other countries present attractive yet regulated options. Singapore’s Global Investor Programme offers residency for substantial investors, but applicants must pass extensive financial scrutiny and background checks. New Zealand’s Investor Visa categories invite HNWIs but require a sizable investment over several years, along with adherence to specific criteria to maintain residency status. Portugal’s Golden Visa program is among the most straightforward, allowing residency in exchange for real estate or capital investments; however, applicants must still meet renewal requirements and pass a thorough vetting process. While complex these can generally be summed up by saying – “If you’re willing to pay enough, you’re welcome in “X” country.”

·       Tax Implications and Financial Planning

Tax implications are a crucial consideration for HNWIs contemplating emigration, as tax policies vary significantly from country to country and can impact everything from income to capital gains. Canada taxes residents on their global income, making comprehensive financial planning essential to avoid high tax burdens. Switzerland, on the other hand, offers favorable tax arrangements for wealthy foreigners, including lump-sum taxation in certain cantons, which can be appealing for those with substantial assets. Singapore and New Zealand each have relatively favorable tax regimes—Singapore has no capital gains tax and does not tax foreign-sourced income not remitted domestically, while New Zealand does not tax foreign income for recent migrants under a transitional residency scheme.

However, even more favorable income tax regimes may include additional taxes on “imported” assets, which can affect property, luxury goods, and other significant holdings. For instance, both Portugal and New Zealand scrutinize certain asset types, which may trigger additional taxes. Depending on the country, converting liquid assets into local currency could offer tax advantages, as fluctuations in foreign exchange rates or local economic policies could impact asset value. Strategic financial planning is essential to navigate these complexities, optimize tax efficiency, and ensure compliance with both U.S. and foreign tax obligations.

·       Wealth Preservation and Estate Planning

Wealth preservation and estate planning are essential components of an effective emigration strategy for HNWIs, as moving abroad introduces new legal landscapes that can significantly impact estate structures. Many countries have different rules regarding inheritance and estate taxes, and failing to adapt estate plans to comply with local laws can lead to unintended tax burdens or asset freezes. For example, Switzerland and Portugal both have inheritance tax considerations that may differ based on residency status or familial relationships. Revising wills, trusts, and other estate planning documents to align with the laws of the new country is crucial to avoid complications and ensure that assets are transferred seamlessly to future generations.

Another key factor is asset protection, as not all jurisdictions provide the same level of safeguarding for high-value estates. Singapore, for instance, has a well-developed trust framework that attracts HNWIs seeking privacy and asset protection, while New Zealand offers favorable treatment for certain trust structures as well. Emigrating can also impact generational wealth planning, as currency fluctuations, tax exposure, and foreign exchange laws may affect wealth preservation over time. A comprehensive review of estate documents, paired with strategic restructuring as needed, can help ensure that wealth remains protected and that long-term goals for generational transfers are met without unnecessary tax erosion.

·       Business and Investment Adjustments

For HNWIs with substantial business interests or investment portfolios, relocating abroad requires careful adjustments to align with the new country’s regulatory environment. Many nations, such as Singapore and Switzerland, offer favorable conditions for business operations and investment, but each has specific requirements around business structure, tax obligations, and financial disclosures. For example, Switzerland has well-established financial regulations that can benefit global investors but may require some restructuring to meet local compliance standards. In Canada, investors may face additional tax reporting requirements for certain types of investments, while Portugal and New Zealand may offer incentives for particular sectors or foreign investment but require local banking or asset-holding adjustments. Relocating may also impact ongoing business activities, necessitating a review of corporate governance structures and possibly shifting some assets to take advantage of new tax or investment incentives. To ensure a smooth transition, HNWIs should work with advisors, such as Moore Legal Counsel, to effectively navigate these changes, protect their investments, and optimize their business operations in the new jurisdiction.

·       Reporting and compliance Obligations

One of the most consequential decisions for high-net-worth individuals considering emigration is whether to retain U.S. citizenship or to sever that tie completely. Renouncing citizenship may seem like the ultimate declaration of independence for those seeking to leave behind American politics and Donald J. Trump’s second term.

 However, this decision comes with significant legal, financial, and personal implications. Surrendering U.S. citizenship means giving up the protections and privileges that come with it, and it also triggers the IRS's expatriation tax, which applies to those deemed “covered expatriates.” This tax essentially assesses unrealized capital gains on global assets as though they were sold, potentially resulting in a hefty tax bill. However, for some HNWIs this may be a small price to pay for their political freedom.

It is important to remember, renouncing citizenship is not a decision that can be reversed easily, and it requires careful consideration of the potential risks. U.S. citizens who expatriate may face restricted travel to the United States, heightened scrutiny in financial dealings, and potential challenges if they have family members or business interests still based in the U.S. For some, though, the freedom from U.S. tax obligations—including complex reporting requirements under FATCA (Foreign Account Tax Compliance Act) and FBAR (Foreign Bank Account Reporting)—is worth the trade-off. Renunciation provides a clean break, freeing individuals from lifelong U.S. tax compliance and the political shifts that may drive domestic policy. However, because of the permanence and gravity of this decision, it is essential for HNWIs to weigh the advantages against the potential drawbacks – Moore Legal Counsel stands ready to assist you in making these critical determinations.

The Nuances:

Relocating as a high-net-worth individual involves countless nuanced decisions, each of which can impact the success of your move and your long-term lifestyle. One of the first and most critical steps is researching potential destination countries carefully. It’s not just about tax laws and residency requirements but also about evaluating the country’s political stability, healthcare quality, lifestyle options, and overall security. For example, Portugal’s Golden Visa offers an easy residency pathway, but individuals should also consider the cultural fit and long-term benefits of such a location beyond financial incentives.

Seeking comprehensive legal and financial advice early on is essential. International relocation requires more than a standard financial plan; it demands expertise across multiple domains, from tax planning and estate restructuring to understanding regulatory environments. A well-rounded team—including international tax advisors, legal counsel, and financial planners with cross-border experience—ensures that each detail aligns with the complexities of your move. Moore Legal Counsel can help coordinate these specialists, providing a seamless approach to managing your assets and legal obligations abroad.

Next, a detailed relocation timeline is critical for coordinating the logistical aspects of the move. Planning the transfer of assets, securing visas, closing out U.S.-based commitments, and relocating personal belongings is not something that should be rushed. Creating a timeline and adhering to it reduces the risk of overlooking critical steps that could lead to tax penalties, asset freezes, or even visa rejections. Thoughtful planning allows you to adjust as needed, ensuring a smooth transition into your new residence.

Finally, it’s important to consider the long-term lifestyle impacts and integration into a new community. Emigration is more than a financial move; it’s a life transition that affects personal relationships, daily routines, and access to services like healthcare and education. Understanding the social and cultural landscape of your chosen country—and planning for successful integration—can make a significant difference in adapting to life abroad. While financial and legal planning lay the foundation, addressing the social elements ensures that your transition is truly sustainable and fulfilling.

How Moore Legal Counsel Supports You:

 Relocating abroad as a HNWI requires a sophisticated legal strategy, and at Moore Legal Counsel, we can guide clients through every layer of this complex process.

Our firm understands the intricacies of cross-border moves, from navigating international tax compliance and estate planning to securing residency in a new country. We offer tailored legal services designed to protect your wealth, streamline your transition, and position you for long-term success in your chosen destination. For clients facing the unique challenges of emigration, we provide dedicated support to ensure each aspect of your move aligns seamlessly with your personal and financial goals.

Moore Legal Counsel offers a holistic approach, coordinating with tax advisors, financial planners, and international legal specialists to provide you with a comprehensive relocation plan. We understand that each client’s situation is unique, and our team is skilled at identifying optimal strategies that address specific needs—from restructuring business holdings to establishing trusts that protect multi-generational wealth across borders. As your primary legal counsel, we’ll navigate the complexities of FATCA, FBAR, expatriation tax, and other international obligations, ensuring your compliance and helping you avoid costly errors.

When the stakes are high, you deserve more than a law firm – you deserve, Moore Legal Counsel!

Our priority is making your transition as smooth and efficient as possible. Whether you’re moving for political, financial, or lifestyle reasons, we are here to provide you with the expertise and assurance needed to make the journey with confidence.

Contact us at Info@MooreLegalCounsel.com today to discuss how we can help you plan a secure and seamless emigration, allowing you to embrace your next chapter with peace of mind. All HNWIs which sign client engagement agreements, will be personally represented by Jonathan Moore, the Founder and Managing Attorney to ensure concierge level legal service.

Conclusion

Emigration is a substantial and complex step. However, for HNWIs it is well within your grasp to leave behind the politics of the United States and truly be unburdened by what has been. Let Moore Legal Counsel guide you through your transition. Contact us today at info@MooreLegalCounsel.com or 484-369-0314 to start planning your next chapter.