Why Thousands of Americans are Renouncing Citizenship

Become a Client: https://nomadcapitalist.com/apply/ Get our free Weekly Rundown newsletter and be the first to hear about breaking news and offers: https://nomadcapitalist.com/email Join us for the next Nomad Capitalist Live event: https://nomadcapitalist.com/live/ In this video, we a cover a survey finding that more Americans are renouncing their citizenship and thousands are doing so annually. We go over individual cases of renunciants detailing why they gave up their US passports. Mr. Henderson also shares his own experience with renouncing US citizenship and clears up misconceptions about the cost of doing so, the ease or difficulty of the process, and how one can return to the USA after relinquishing the passport. 00:00 Is it Worth Considering Renouncing Your Citizenship? 00:39 More Americans are Renouncing Citizenship—Case of French Citizen Born in USA 03:12 Boris Johnson's Renunciation of US Citizenship 03:41 US Citizenship-Based Taxation and Reporting Requirements—Coming to France Soon? 05:20 $2,350 US Citizenship Renunciation Fee and Standing on Principles 06:46 Thousands of Americans Renouncing Citizenship Annually—Complications with the Process 10:16 How to Return to the USA After Renouncing Citizenship 11:25 Lie About the US Exit Tax 11:48 Reasons for Renouncing US Citizenship vs. Holding US and Other Passports 18:16 Reasons NOT to Renounce US Citizenship 18:39 Will the US Save its Citizens Abroad? 20:18 Concerns Over Prejudice and Persecution 21:07 US Tax System vs. Other Countries and Following the Rules 23:25 What is Right and Fair for You? Nomad Capitalist helps clients "go where you're treated best". We are the world's most sought-after firm for offshore tax planning, dual citizenship, and international diversification and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors. We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country. No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't. Become Our Client: https://nomadcapitalist.com/apply/ Our Website: http://www.nomadcapitalist.com/ About Our Company: https://nomadcapitalist.com/about/ Buy Mr. Henderson’s Book: https://nomadcapitalist.com/book/ DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.