Rich Americans are fleeing to the Caribbean as they swap COVID-19, fears around the upcoming election and even their US citizenship for a winter working remotely in the sun.
Business has been booming in recent months for citizenship advisers, government agencies and real estate developers in several Caribbean islands including Grenada, Dominica, Barbados and St Kitts and Nevis.
Applications for citizenship and visas for Caribbean islands are surging as people take advantage of the 12-month 'Welcome Stamp' initiative launched by Barbados in July, which encourages remote workers to enjoy a long-term stay in the sun.
More than 1,100 have so far applied for the scheme and a similar offering in St Kitts and Nevis is also witnessing a surge in interest.
This comes as stark data reveals a growing number of people with dual nationality are ditching their American citizenship and turning their backs on the nation for good.
Rich Americans are fleeing to the Caribbean as they swap COVID-19, fears around the upcoming election and even their US citizenship for a winter working remotely in the sun. Pictured a beach on Nevis
With the pandemic rumbling on, no clear sign of a vaccine and many workplaces switching to a more permanent working from home model, there has been a mass exodus out of the US's biggest cities such as New York and New Jersey to more rural states such as Vermont and Oregon in recent months.
But the wealthy are jetting off even further afield, packing up for a long-term stay on a paradise Caribbean island.
The shift to home working and the escalating tensions surrounding the upcoming November election have created a melting point where people want to escape US soil altogether, industry insiders told Forbes.
Mohammed Asaria, whose Range Developments is developing a new luxury Six Senses resort in Grenada, said Americans are fleeing because they want to 'hide it out' from the election.
'You've got the election coming. That's number one,' he told Forbes.
'You've had COVID and certain places in the US have been challenged through that, and more working remotely.'
Asaria said the rich are snapping up second or third homes they can hide out in if 'a second or third wave' of the virus comes.
'It's the first time the US has gone through a period like this and it's not just the Covid-19 situation,' said Gregor Nassief, proprietor of luxury villas Secret Bay in Dominica.
'It is the fear of what an extreme outcome on the left or right may look like after the presidential election.'
People are taking advantage of the 12 month 'Welcome Stamp' initiative launched by Barbados in July, which encourages remote workers to enjoy a long-term stay in the sun. Pictured the Hilton Barbados
Applications for citizenship on Caribbean islands such as St Kitts and Nevis are surging as the rich invest in second and third homes in the event of a second wave of the virus. Pictured a property on St Kitts
In July, Barbados launched its new 12-month temporary visa for remote workers to live and work in the country for up to a year.
The visa, which costs $2,000