Things To Do To Prepare For Renouncing US Citizenship
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- Опубликовано: 2 сен 2021
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So, you're an American who is thinking about renouncing US citizenship. You consider it to be more of a burden than an asset, and you don't like citizenship-based taxation.
You want to say goodbye to Uncle Sam. Fine! You will need to make sure you prepare well for doing such a major step in life.
How to prepare for renouncing your citizenship? What do you need to know? How to make sure you don't pay taxes in your home country ever again?
Here are things you'll need to do to prepare for renounicng your US citizenship.
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Really great content - We are going to renounce this year after structuring with you.
Well as someone currently stuck in the Evil Empire I wish you luck.
@@mvp019renouncing the USA citizenship is one way to be civil after all the brutalization they have caused me . If this doesn't work than they leave me with no choice .
You can't have firearms in the US if you renounce your US citizenship. The US has medicare for retired folks. However, if Medicare doesn't work outside the US and its territories.
Video idea: best places to get healthcare outside the U.S.
We have something similar ruclips.net/video/FUy7MzZq7Y8/видео.html
Let us know how you liked it 😊
Are there any crypto exchanges or off ramps you would recommended for
Georgian residents?
Great question. I'm interested too.
Can you renounce citizenship before you have filed the required 5 years of us back
Taxes and fbars etc?
No
✌🏾👍🏾👍🏾
Interesting subject. Here’s my ‘odd’ question I haven’t heard anyone mention: say you renounce your US citizenship and then some happens (i.e., nothing you could have foreseen); can you reacquire US citizenship? I assume it’s not an easy process but is it even possible? Just curious. Thank you.
From everything I've read, you'd just start in the back of line like any other citizen of whatever country you now have a passport from.
Great question! Yes, in theory it is possible but you will be treated like any other immigrant.
First of all you’d need to obtain some sort of immigration visa and move to the country. After getting a green card you’d need to spend years in the country and then qualify for naturalization.
This whole process is very difficult and frustrating and this is what all immigrants face.
So yes, in theory it’s possible. Difficult but possible.
@@OffshoreCitizen Thanks. Wasn't even sure if a remote possibility. Thx for your feedback. Great videos BTW. 👍🏻
It is crazy that i contacted the U.S. Attorney, Attorney general and sought to affirm my renounciation..and they attempted to rakk me out of ot, then finally alleged they had no knowledge of the process how rezl is that
How far in the process are you now?
If I got a different citizenship, renounced my US one, could I then be deported to the country of new citizenship? Silly question, I know...just curious.
In theory yes
Like I wrote in another video. People would be wise to do some due diligence on certain health care services that are simply cut off or not available in many countries, by age limit. While in the U.S. it's (theoretically) against the law to deny care to people because of age.
Another consideration is that countries with socialized medicine don't want to admit new arrivals into the cover-everyone system. Because they figure you haven't paid into it long enough before costing the system money (or the risk of costing the system money because you are older or have issues).
Thanks for mentioning the topic in this video.
Can I keep my Roth 401k/IRAs in the US after I renounce?
Depends on where you will retire. Only the UK, Belgium, Canada and Malta recognize the account as tax fee. And France as well under some circumstances. So if you don't plan to retire there, most likely better to close the account or at least get your contributions back
@@patienceisalpha Bad advice! "..better to close the account.." So you're the kind of guy who volunteers to surrender aye? Perhaps you don't know the benefits of a Roth account? No taxes owed when you take the money out.
When you renounce citizenship does that mean you have to liquidate everything that you own or have in your name? I doubt it.
@@peaceonearth8693 Problem is that most probably roth is not recognized outside us. You get distributions tax free for usa and you're no longer citizen, but for country you're in it's some sort of worldwide income.
@@ilya6355 I guess it depends on where a person is going to move to.
Me watching this video with 15k in my checking account
the vid is not for you---at this time ;)