American millionaires are increasingly withdrawing large amounts of money abroad by opening accounts in Swiss and British banks. This is due to concerns about possible political changes and restrictions on the movement of capital. In recent weeks, five large transfers have been recorded in the amounts of $40 million, $30 million, $30 million, $100 million and $50 million. Wealthy citizens transfer funds from American brokerage accounts to banks in Switzerland, Jersey and Guernsey. According to Judy Galst of Henley & Partners, more than 25% of their clients are considering withdrawing capital from the United States. One of the Swiss banks has already opened 12 new accounts for Americans in the last two weeks. Experts attribute this to economic instability: the US economic growth forecast was cut by the Federal Reserve from 2.1% to 1.7%. Analysts believe that such actions are insurance against possible financial constraints. Some investors are also interested in investment migration to New Zealand or opening accounts in Liechtenstein, although drastic capital controls in the United States are unlikely so far.
