Due to the results of the recent election in the United States (and the actions of the new
president tyrant as of the past two weeks), many are looking to move abroad (something I recommend) and start new lives outside of America. Many of those who hold dual citizenships (an American one and another one) are now looking to exclusively renounce U.S. citizenship and permanently move elsewhere.
Many famous celebrities and singers renounce U.S. citizenship and move abroad so they don’t have to pay U.S. taxes (or to protest America’s actions) and most find it worthwhile. There is also an increasing number of expats that renounce U.S. citizenship after acquiring foreign citizenship elsewhere. In fact, there were more than 4k expats who gave up their citizenship in 2015.
But what’s shocking (or not really because, well, America..) is that the U.S. recently raised the cost of giving up citizenship by more than a few-hundred percent. The cost to renounce U.S. citizenship is around $2350 USD. A few years ago, it was around $450 USD (still higher than most normal countries), but apparently due to an increase of individuals deciding to give up their citizenship, it has gone up drastically.
Now, of course, giving up U.S. citizenship doesn’t “free” you from America a lot.. you may still be liable for taxes and other things even after you’ve renounced citizenship.. yes that’s right. Though technically if you never plan to return to America.. I guess you shouldn’t care about those things anymore and start a new, happy life elsewhere?
Anyway, I’m reading that more and more people want to leave the United States this year (not surprisingly), and lots of those who have dual citizenship do not want to be associated with America anymore. Well, it isn’t as easy as simply renouncing U.S. citizenship to free yourself from the United States and the complex laws it has.
I made the bright and smart decision to move back to Europe in a couple of months and I’m ultra thankful that I have Polish citizenship which means I can work and live in any EU-member country – now that’s true freedom. America, your “freedom” has some major work to do…