Well, a modern form of that still sort of exists today, except the leash is longer.
You cannot for example just get rid of your US citizenship - you have to pay to get rid of it, and as long as you have it, you’re susceptible to paying taxes to the USA. Even if you have dual citizenship.
I mean, you can kinda just sell all your assets in the US and move permanently abroad. As long as you never go back to the US, how are they gonna make you pay?
You cannot for example just get rid of your US citizenship - you have to pay to get rid of it…
I wanted this to be false but I see that there is currently a minimum renunciation fee of $2,350. I assume there are likely other consulate fees that may bring it closer to $2,500 at the very least. What a scam.
Well, a modern form of that still sort of exists today, except the leash is longer.
You cannot for example just get rid of your US citizenship - you have to pay to get rid of it, and as long as you have it, you’re susceptible to paying taxes to the USA. Even if you have dual citizenship.
I mean, you can kinda just sell all your assets in the US and move permanently abroad. As long as you never go back to the US, how are they gonna make you pay?
I wanted this to be false but I see that there is currently a minimum renunciation fee of $2,350. I assume there are likely other consulate fees that may bring it closer to $2,500 at the very least. What a scam.
Edit: typo
US is one of like 2 or 3 countries that does that.
There are usually other costs, and if you have any outstanding debts you have to pay those first too.
Some may need a lawyer to figure out how to just do the paperwork.