Shark Tank host Kevin O’Leary has a broad portfolio of sturdy opinions and is never shy to share them. In a current Fox Enterprise interview, the Montreal-born entrepreneur confidently asserted {that a} rising variety of People are fleeing to Canada in current months due to the nation’s comparatively open immigration insurance policies.
“The immigration coverage there’s at the moment extra liberal than it’s within the U.S.,” he instructed host Stuart Varney. “Within the US, immigration has fallen to zero right here, and many individuals want to see it addressed in a extra organized and authorized means. However whereas it stays so tight, many individuals are profiting from insurance policies that had been carried out in the course of the Trudeau period that haven’t but been modified.”
“So, they’re not leaving as a result of they don’t just like the U.S.” Varney responds.
O’Leary appears to have misunderstood the query — right here’s the catch: U.S. residents don’t want immigration leniency to maneuver overseas. And the info reveals People are leaving the nation for very completely different causes. Right here’s a better take a look at current statistics and what they really imply.
Extra People sought refugee standing in Canada within the first half of 2025 than throughout all of 2024, in response to Canada’s Immigration and Refugee Board. The company doesn’t reveal the explanations specified by candidates, however there are considerations of the Trump administration’s crackdown on LGBTQ rights and normal political unrest.
Trans People, specifically, are more and more looking for asylum in Canada, attorneys instructed Reuters. Homosexual {couples} who spoke to CTV News in April pointed to rising threats to marriage equality and gun security considerations as causes for shifting north.
Even teachers are making the transfer. In an opinion video for the New York Occasions, three Yale professors mentioned they had been relocating to the College of Toronto due to rising considerations about authoritarianism within the U.S.
Learn extra: Wealthy, younger People are ditching shares — here are the alternative assets they’re banking on instead
Many People are additionally shifting, not simply to Canada however different components of the world, because of financial considerations. Roughly 1,285 U.S. residents expatriated within the first quarter of 2025, up 102% from the final quarter of 2024, in response to federal authorities data analyzed by CS World Companions. The report suggests the speed of expatriation might break a earlier report set in 2020.
Some People are even looking for so-called “golden passports” — citizenship-by-investment applications that permit individuals to basically purchase a second nationality. Caribbean nations corresponding to St. Kitts and Nevis or Dominica supply twin citizenship beginning at round $130,000. For rich expats, these passports can present visa-free journey, tax benefits, and a hedge towards political uncertainty at residence.
Why go to such lengths? A Quick Firm–Harris Poll discovered that almost half of People who’ve thought-about shifting overseas cite the price of residing (49%) and dissatisfaction with politics (48%) as high drivers. For some, shopping for a golden passport is just essentially the most environment friendly approach to lock in a Plan B.
If you happen to’re certainly one of these potential expats, it’s necessary to do your analysis and plan fastidiously earlier than you are taking the leap.
Though it’s comparatively simple to discover a nation with a decrease price of residing than america, that’s solely one of many many monetary components that might affect you if you happen to transfer overseas.
For example, U.S. residents are obligated to pay taxes to the Inner Income Company no matter the place they dwell. Relying on the place you progress, you might be topic to double taxation or withholding taxes in your earnings. Seek the advice of a cross-border monetary professional to reduce this potential burden.
Healthcare is one other issue price contemplating. Many developed international locations have common and publicly-funded healthcare methods however your entry to those methods could also be restricted relying in your immigration standing, in response to wealth administration agency Creative Planning. Understanding these guidelines and doubtlessly signing up for personal insurance coverage earlier than you progress might prevent some cash.
Lastly, you will need to take into account your choices for earnings and employment. If you happen to can work remotely for a U.S.-based firm, whereas residing in a lower-cost vacation spot, you might unlock a surprisingly comfy way of life. Nevertheless, if this isn’t an choice for you, be sure to analysis and perceive the native job market earlier than you progress.
Transferring overseas could be a path to higher safety — monetary or private — however it comes with trade-offs. Earlier than packing your baggage for Canada or wherever else, be sure that the grass actually is greener on the opposite facet.
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This text gives data solely and shouldn’t be construed as recommendation. It’s offered with out guarantee of any variety.
