Americans abroad are renouncing their U.S. citizenship en masse — The Guardian
According to media reports, thousands of U.S. citizens living abroad are waiting in lines for months to officially renounce their U.S. citizenship. They note that the main reason is the high cost and complexity of meeting tax obligations, although this is not the only factor behind this decision.
This is reported by The Guardian.
Waiting Lists a Year in Advance
In the 2000s, hundreds of people renounced their U.S. citizenship each year. Since 2014, the number has risen to the thousands. A new record is expected this year.
For example, the waitlist for renouncing citizenship at the London consulate is already over 14 months long.
The reason is a reduction in the government fee from $2,350 to $450 following a lawsuit. However, the actual cost of the procedure with a lawyer ranges from $7,000 to $10,000.
"I don’t want to be a citizen of a dictatorship"
People cite various reasons. Some are disappointed in U.S. politics; others face practical problems.
"I don’t want to be a citizen of a dictatorship. We’ll find out whether this government is ready to relinquish power through democratic means this November. I have serious doubts about whether they’re going to give up power," says 36-year-old Josef from Norway.
Paul, a 55-year-old from Helsinki, decided to take action after seeing a photo from the swearing-in ceremony of Supreme Court Justice Amy Coney Barrett.
“Five minutes later, I was Googling ‘find a lawyer for impeachment,’ and five minutes after that, I sent them an email,” Paul says.
Taxes and banks—another reason
The U.S. is the only country in the world (apart from Eritrea) that taxes its citizens regardless of where they live. Because of this, foreign banks are required to report data on U.S. clients to the U.S.
"I was offered a job in Switzerland with very good pay, but I couldn’t accept it because no Swiss bank would open an account for me," says 66-year-old Ella, who lives in Germany.
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