[Hermel]

More and more countries are implementing an "exit tax" when wealthy people try to give up their citizenship. Also, the US authorities make it increasingly hard to do so. I wouldn't recommend anyone to become a US citizen. Once you are in, it is very costly to get out again.

[tromp]

As a Dutch citizen, I can leave the Netherlands to live elsewhere and no longer have to file Dutch taxes.

US citizens have an IRS filing requirement even when living abroad.

What other countries behave like the US in this regard?

[chrisdbanks]

Even Germany which is an EU member has an exit tax when moving to another EU country. This is theoretically against the EU's principle of free movement of capital. According to EU law, any restrictions on the movement of capital or payments—either within the EU or between EU and non-EU countries—are generally prohibited. However, somehow Germany gets away with it.

[blackhawkC17]

Eritrea, an African dictatorship. But they charge a measly 2% and people don’t bother paying if they have no plans of visiting Eritrea again.

[richtr]

Sweden has an exit tax rule where they will continue to tax any capital gains worldwide for 10 years after non-residency.

[4hg4ufxhy]

If you have a permanent residence permit in Japan you need to file their taxes annually even when living abroad.

In Finland you have to live abroad for 3-4 years until you are not taxed anymore.

[trimethylpurine]

If you're born in the Netherlands and retire to South Korea, will the Netherlands continue to pay you a base income and provide healthcare?

[bboygravity]

This is not accurate. If you move out of the Netherlands as a Dutch citizen you definitely still have to file your IRS for at least a couple of years (until "computer says no"). Even with no assets or income from Netherlands.

Source: I did it.

And of course if you have assets in The Netherlands of any kind you'll have to keep filing IRS as long as you have anything going on there.

[repomies69]

US is likely the only jurisdiction that can actually enforce it. Other countries can't just call US government to send them back if they suspect they owe some tax.

[trimethylpurine]

>Other countries can't just call US government to send them

Tax fraud is fraud. The US definitely extradites for fraud.

* Gaston Bastiaens

* Stein Bagger

* John Kirk

[jajko]

Maybe, but you maybe want to travel. Even going back. Too bad if it would end up in 5 years jail time for some tax evasion or similar

[scotty79]

Would it be really silly to just get rid of US citizenship as soon as possible?

You can live and work in US without citizenship, right?

Which citizenship would be good to get instead of US?

[jimbob45]

Why not just maintain dual citizenship instead of needlessly renouncing?

[lIl-IIIl]

Because US citizens have an IRS filing requirement even when living abroad. It is a very uncommon requirement among countries.

[notagoodidea]

Some countries don’t allow dual citizenships like the Netherlands and others allow it like Belgium.

[throwgh]

Many billionaires who move to USA, UK, Canada and Australia are corrupt/oligarchs/tax Dodgers. They are ok even to loose 50% of their wealth to get protection