Reza Pahlavi, the exiled son of Iran's last shah, has remained outside the country since 1979 while positioning himself as a unifying figure for a secular democratic transition. Following U.S. military operations in the 2026 Iran war that eliminated Supreme Leader Ali Khamenei and degraded much of the regime's missile and nuclear infrastructure, Pahlavi has described the Islamic Republic as at its weakest point in decades and urged defections, protests, and preparation for regime collapse. He has publicly stated readiness to return once a "national revolution’s victory" is secured and outlined plans such as the Iran Prosperity Project for an orderly post-regime transition, including a potential referendum on governance. Recent statements focus on economic crises and international solidarity rather than imminent travel, amid ongoing security risks, fragmented opposition, and questions from figures like President Trump about his domestic mobilization capacity. These elements shape trader assessments of entry timing tied to verifiable regime change or safe conditions.