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 presently extra liberal than it’s within the U.S.,” he informed host Stuart Varney. “Within the US, immigration has fallen to zero right here, and many individuals wish 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 exhibits People are leaving the nation for very completely different causes. Right here’s a more in-depth have 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, based on Canada’s Immigration and Refugee Board. The company doesn’t reveal the explanations specified by candidates, however there are issues of the Trump administration’s crackdown on LGBTQ rights and basic political unrest.
Trans People, particularly, are more and more in search of asylum in Canada, attorneys informed Reuters. Homosexual {couples} who spoke to CTV Information in April pointed to rising threats to marriage equality and gun security issues as causes for transferring 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 issues about authoritarianism within the U.S.
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Many People are additionally transferring, not simply to Canada however different elements of the world, attributable to financial issues. Roughly 1,285 U.S. residents expatriated within the first quarter of 2025, up 102% from the final quarter of 2024, based on federal authorities knowledge analyzed by CS International Companions. The report suggests the speed of expatriation might break a earlier document set in 2020.
Some People are even searching for so-called “golden passports” — citizenship-by-investment packages that enable folks to basically purchase a second nationality. Caribbean nations corresponding to St. Kitts and Nevis or Dominica provide twin citizenship beginning at round $130,000. For rich expats, these passports can present visa-free journey, tax benefits, and a hedge in opposition to political uncertainty at residence.
Why go to such lengths? A Quick Firm–Harris Ballot discovered that just about half of People who’ve thought-about transferring overseas cite the price of dwelling (49%) and dissatisfaction with politics (48%) as prime drivers. For some, shopping for a golden passport is solely essentially the most environment friendly option 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 rigorously earlier than you are taking the leap.
Though it’s comparatively straightforward to discover a nation with a decrease value of dwelling than the USA, that’s solely one of many many monetary components that might impression you for those who transfer overseas.
As an illustration, U.S. residents are obligated to pay taxes to the Inner Income Company no matter the place they stay. Relying on the place you progress, you would be topic to double taxation or withholding taxes in your revenue. Seek the advice of a cross-border monetary knowledgeable to reduce this potential burden.
Healthcare is one other issue value contemplating. Many developed nations have common and publicly-funded healthcare techniques however your entry to those techniques could also be restricted relying in your immigration standing, based on wealth administration agency Artistic Planning. Understanding these guidelines and doubtlessly signing up for personal insurance coverage earlier than you progress might prevent some cash.
Lastly, you have to contemplate your choices for revenue and employment. If you happen to can work remotely for a U.S.-based firm, whereas dwelling in a lower-cost vacation spot, you would unlock a surprisingly snug way of life. Nonetheless, if this isn’t an choice for you, be sure to analysis and perceive the native job market earlier than you progress.
Transferring overseas generally is a path to higher safety — monetary or private — however it comes with trade-offs. Earlier than packing your luggage for Canada or anyplace else, make certain the grass actually is greener on the opposite facet.
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This text supplies data solely and shouldn’t be construed as recommendation. It’s supplied with out guarantee of any sort.
