Expatriation
Facebook Co-Founder Unfriends USA…Now the Empire Strikes Back
Brazilian-born Facebook co-founder Eduardo Saverin relinquished his U.S. citizenship late last year. As an expatriate, Saverin must pay an “exit tax” on the value of any unrealized gains in his worldwide estate, less a $636,000 exclusion for 2011. I’m not privy to billionaire Saverin’s financial affairs, but I have no reason to doubt his statement [...]
Are You the Property of Your Government?
As a former U.S. citizen who has given up U.S. citizenship, I’ve visited dozens of countries using my Commonwealth of Dominica passport. One of the most interesting destinations has been the Republic of Cuba. Not being a U.S. citizen makes the process of visiting Cuba much easier. Due to a longstanding U.S. embargo against Cuba, [...]
When the USA Rejects Your Expatriation
While you have an absolute right to give up your U.S. citizenship, you must make your intention to expatriate crystal-clear. A former client recently discovered this for himself. After acquiring a second passport, he subsequently made an appointment at a U.S. consulate and filed the paperwork to give up his U.S. citizenship. After a considerable [...]
New Version of “Billionaire’s Loophole” Now Available
I’ve just completed the 2012 update to my report The Billionaire’s Loophole. If you’re considering expatriation, you need to read this report. The 2012 edition has some important updates from the 2011 edition, and if you purchased the report in the last year, you’re entitled to a free update. Just log on to your account [...]
Growing Numbers of Tax Refugees Exit USA—Permanently
If you’re a U.S. citizen or long-term permanent resident (“green card” holder), you have a unique responsibility: you must pay tax on your worldwide income, even if you live outside the United States. Not to mention capital gains tax, gift tax, and estate tax. Numerous additional obligations come with U.S. citizenship or permanent resident status. [...]
The Four-Phase Plan to Disconnect from the United States
Chris Martenson at Chrismartenson.com recently commissioned me to write an article on expatriation to be posted on his Web site. Chris is the author of the well-known “Crash Course” which explains how our economy, energy systems and environment face overwhelmingly difficult challenges in the years ahead, and explores likely implications for the future. His primary [...]
Keeping America Safe from…Cigars
One of the responsibilities that must keep President Obama awake at night is to keep track of exactly who America’s enemies really are. Fortunately, he has a government agency to rely on for that purpose—the intrepid bureaucrats at the Treasury’s Office of Foreign Assets Control. As soon as a president officially declares that a specific [...]
Overseas Radio Network to Launch with P.T. Freeman as Host
In the first days of January 2012, the Overseas Radio Network will begin broadcasting, aiming at people who desire for one reason or another, to leave the United States and set up a new life elsewhere. It will be primarily talk radio that will be broadcasting online. There will approximately 40 show hosts with various [...]
Relinquish or Renounce?
There are several ways that a U.S. citizen can expatriate; i.e., end their U.S. citizen status. A U.S. citizen loses nationality by voluntarily performing any of the following acts with the intention of relinquishing U.S. nationality: 1. Being naturalized in a foreign country 2. Taking an oath or similar declaration of allegiance to a foreign [...]
The Perils of “Accidental” U.S. Citizenship
Compared to most other countries, it’s comparatively easy to acquire U.S. citizenship. You become a U.S. citizen merely by birth within the geographic boundaries of the United States. In most cases, you’re also a U.S. citizen if you were born outside the United States, and at least one parent was a U.S. citizen or green [...]