According to the Association of Americans Resident Overseas , it is estimated approximately 5.5 million Americans are living beyond US borders.[1]
Recent Financial Times analysis published in June 2025 revealed that a rising number of Americans, ranging from professionals to retirees, are actively pursuing ‘Plan B’ relocation strategies, such as applying for golden visas in Italy.[2]
The FT also recently cited that the number of US citizens applying for citizenship in the UK last year reached record levels of over 6,000 – a clear sign of shifting priorities.[3]
Investing across borders
Even for those not yet ready to relocate permanently, we have seen a significant increase in enquiries from US citizens deciding to invest some of their financial assets abroad , to give their portfolios more international exposure.[4]
While there are many different factors that lead individuals to invest their assets abroad, with or without moving themselves, abroad, whether it be financial, social, or personal, it cannot be mere coincidence that the increase comes at a time of significant economic and political change in the US.
While offshore jurisdictions may offer many different incentives to move, US citizens have little motivation to invest money abroad for tax benefits. US citizenship carries with it the requirement to report to the Internal Revenue Service (IRS) on a worldwide basis.
Whatever the motivation to move away from the US, it is essential that US individuals are aware of the implications of moving their assets (or indeed themselves) into new tax jurisdictions and some of the subsequent additional requirements that this entails. Suitable tax and legal guidance is therefore essential, and we maintain strong relationships with leading US/UK specialists across the industry that are well positioned to provide US clients with appropriate advice before establishing their new investment portfolios.
Sarasin Asset Management: putting US citizens first
putting US citizens first In 2003, we established Sarasin Asset Management Ltd (SAM) to specifically look after the investment requirements of US citizens wherever they live. SAM is a wholly owned subsidiary of Sarasin & Partners, registered as an Investment Adviser firm with the SEC and regulated by the UK’s Financial Conduct Authority. We are one of the very few firms
able to look after both US residents and US expats from London.
The majority of Sarasin’s discretionary clients benefit from the ability to invest in our range of in-house funds. For US investors, however, these investments are classified as Passive Foreign
Investment Companies (PFICs), which can be very tax punitive.
Our preference, therefore, is to invest directly into global equities and bonds for US client portfolios. This approach provides greater flexibility when multiple jurisdictions are involved and more importantly it means that US clients are still able to gain exposure to our global thematic equity process but in a tax efficient manner across multiple jurisdictions.
Should you be considering an international move, or simply wish to understand your investment options, we would be very happy to have a conversation. Sarasin’s expertise in managing investments for US clients, combined with our strong network of legal and tax professionals, is helping clients make the right decisions in safeguarding their wealth for years to come.
For more information, contact Nick at +44 20 7038 7086 or nick.wood@sarasin.co.uk
[1] https://aaro.org/living-abroad/how-manyamericans-live-abroad
[2] https://www.ft.com/content/01b61c1b-0f2e-4102-95bf-d3132a77416a
[3] https://www.ft.com/content/e20a2ea0-0fa0-4b6ca487-05030f4a4c93
[4] https://www.investopedia.com/where-ultra-rich-areflocking-next-11736703?
Important information
This document is intended for retail investors and/or private clients in the US only. You should not act or rely on this document but should contact your professional adviser.
This document has been prepared by Sarasin & Partners LLP (“S&P”), a limited liability partnership registered in England and Wales with registered number OC329859, which is authorised and regulated by the UK Financial Conduct Authority with firm reference number 475111 and approved by Sarasin Asset Management Limited (“SAM”), a limited liability company registered in England and Wales with company registration number 01497670, which is authorised and regulated by the UK Financial Conduct Authority with firm reference number 163584 and registered as an Investment Adviser with the US Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940. The information in this document has not been approved or verified by the SEC or by any state securities authority. Registration with the SEC does not imply a certain level of skill or training.
In rendering investment advisory services, SAM may use the resources of its affiliate, S&P, an SEC Exempt Reporting Adviser. S&P is a London-based specialist investment manager. SAM has entered into a Memorandum of Understanding (“MOU”) with S&P to provide advisory resources to clients of SAM. To the extent that S&P provides advisory services in relation to any US clients of SAM pursuant to the MOU, S&P will be subject to the supervision of SAM. S&P and any of its respective employees who provide services to clients of SAM are considered under the MOU to be “associated persons” as defined in the Investment Advisers Act of 1940. S&P manages mutual funds in which SAM may invest its clients’ assets as appropriate. To the extent that SAM is able to exercise proxy voting on behalf of its clients, SAM follows the policy set by S&P. Proxy voting is an operational process dependent upon support from SAM’s clients’ custodians, some of which do not support proxy voting in all or certain markets.
This document has been prepared for marketing and information purposes only and is not a solicitation, or an offer to buy or sell any security. The information on which the material is based has been obtained in good faith, from sources that we believe to be reliable, but we have not independently verified such information and we make no representation or warranty, express or implied, as to its accuracy. All expressions of opinion are subject to change without notice.
This document should not be relied on for accounting, legal or tax advice, or investment recommendations. Reliance should not be placed on the views and information in this material when taking individual investment and/or strategic decisions.
The value of investments and any income derived from them can fall as well as rise and investors may not get back the amount originally invested. If investing in foreign currencies, the return in the investor’s reference currency may increase or decrease as a result of currency fluctuations. Past performance is not a reliable indicator of future results and may not be repeated. Forecasts are not a reliable indicator of future performance. Management fees and expenses are described in SAM’s Form ADV, which is available upon request or at the SEC’s public disclosure website, https://www.adviserinfo.sec.gov/Firm/115788.
Neither Sarasin & Partners LLP, Sarasin Asset Management Limited nor any other member of the J. Safra Sarasin Holding Ltd group accepts any liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this document or any part of its contents. The use of this document should not be regarded as a substitute for the exercise by the recipient of their own judgement.
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