Comment on How does renouncing citizenship work?
cyberpunk007@lemmy.ca 1 month agoExactly what I was wondering, thanks. I assume you have to renounce before acquiring a new citizenship? No thanks.
Comment on How does renouncing citizenship work?
cyberpunk007@lemmy.ca 1 month agoExactly what I was wondering, thanks. I assume you have to renounce before acquiring a new citizenship? No thanks.
alcoholicorn@lemmy.ml 1 month ago
No, other way around. Most countries won’t even allow you to renounce if you don’t have another citizenship.
The US also charges $10,000 dollars to accept your renunciation. The US is one of the few countries that taxes its citizens in foreign countries. There is a substantial tax deduction for the first ~150K you earn in another country, as long as you spend less than 10 days in America or traveling and pay taxes in that country, as long as that country has such an agreement with the US.
frickineh@lemmy.world 1 month ago
It’s $2350 to renounce, not $10k.