honestly US citizenship is highly overrated anyway.
We are the only country that taxes us on income made outside the US.
denouncing US citizenship, if done correctly can be quite a money saver.
RE: Would you renounce your US Citizenship to avoid SEC regulation?
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Would you renounce your US Citizenship to avoid SEC regulation?
Just make sure you have citizenship somewhere else first.
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of course :)
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And, if you live "offshore," you can shelter up to $100, 000+ per year (times two if you're a couple) of income earned offshore and are a permanent resident elsewhere. So, be a permanent resident in the country where you intend to get the second citizenship. Once you have the second citizenship, you get the privilege of paying and being harassed to renounce. Ohh..but that's not the end of it. Now you have to wait for the official form, which has been known to take up to twelve months, that officially approves of your renouncement. You'd think they'd just say, "Good riddance!" But, NO...that'd be too easy.
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I've been researching internationalization lately. I'm very interested in getting citizenship elsewhere. Multiple places actually. It seems you have to either live there or pay their government a lot to do it but it really seems worth it.
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