If you are US citizen, you must still pay taxes to USA when you work and live in another country.
IDK if there are other things, but that’s pretty major for some people.
I think only if its above a certain amount. You get some sort of high deduction for paying taxes in your current country. Still have to file regardless though which is annoying.
Needed to renounce it in order to acquire the citizenship of another country which doesn’t allow dual citizenship (Singapore). Goodbye US tax is a great perk as well.
But isn’t your family in the States? I read a while ago that immigration can sometimes be vindictive toward former citizens who renounced their citizenship when it comes to applying for a visa—even if it’s just for a tourist visit to their former country
No. If you are not an us citizen you have no “american rights” until you cross the border. They can even steal your phone and make you tell them your password.
What is the benefit of this?
If you are US citizen, you must still pay taxes to USA when you work and live in another country.
IDK if there are other things, but that’s pretty major for some people.
I think only if its above a certain amount. You get some sort of high deduction for paying taxes in your current country. Still have to file regardless though which is annoying.
you only have to pay those if you plan on returning to the US
this is not legal advice
There is a fairly misunderstood tax rule which lets US persons working abroad for more than 330 days per year to exclude a reasonably large chunk of income: https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion
The benefit of what exactly?
I’d guess renouncing your US citizenship.
Needed to renounce it in order to acquire the citizenship of another country which doesn’t allow dual citizenship (Singapore). Goodbye US tax is a great perk as well.
But isn’t your family in the States? I read a while ago that immigration can sometimes be vindictive toward former citizens who renounced their citizenship when it comes to applying for a visa—even if it’s just for a tourist visit to their former country
I mean that sounds like a lawsuite in the making.
No. If you are not an us citizen you have no “american rights” until you cross the border. They can even steal your phone and make you tell them your password.
They are. No issues traveling to the US with my Singapore passport.
Yes.