TIL the fee for renouncing your citizenship in the United States is $2,350, which is the highest citizenship renunciation fee of any nation and 20 times higher than the average price of other high-income nations.

Read more: http://isaacbrocksociety.ca/2014/08/22/comparison-of-fees-and-procedures-for-renouncing-citizenship-in-various-countries/comment-page-1/

What do you think?

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  1. The US is one of the worst countries tax wise for the ultra wealthy.

    Remember the panama papers? That was really only about Europeans because they tax based off of residency while the US taxes based on citizenship. Spend 122 days in Italy, France, and Germany each year, funnel all your self employment income through a panama LLC, and you owe no income taxes because you are not a tax resident of any nation and Panama doesnt tax you for that. Still legal, by the way.

    All it had to do with the US was that it showed a few people had yachts registered there because you cant hire foreign labor on US flagged vessels.

  2. I wonder.

    If you renounce your citizenship, I’d imagine they get rid of your SSN, right?

    If you re-apply for citizenship and get it… would you get a new SSN, and potentially a new identity to go with as a result?

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