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Tag Archives: expatriate

  • Insider

    Important Consequences Of Expatriation

    Critical details you need to be aware of
    by Adam Taggart

    Friday, June 7, 2019, 5:15 PM


    Executive Summary

    • The nuts and bolts of expatriation, including the legal process of expatriation
    • The tax consequences of expatriation
    • The immigration consequences of expatriation
    • The pros and cons of U.S. investments once you expatriate
    • The tax consequences should you choose to spend more than a few months each year in the United States after expatriation

    If you have not yet read Part 1: A Primer For Those Considering Expatriation, available free to all readers, please click here to read it first.

    Expatriation: The Basics

    Once you’ve obtained a second passport and qualified for residence in another country, you can begin the legal process of expatriation.

    To do so, you must make an appointment with a U.S. consulate. You generally cannot expatriate within the territorial boundaries of the United States. The consular officer will explain the consequences of expatriation and have you sign some forms.

    Two or more appointments may be necessary to complete the process. At the end of whatever sequence of visits applies at the consulate you choose, you’ll then hand in your U.S. passport. Anywhere from several weeks to several months later, you’ll receive an official document called a “Certificate of Loss of Nationality” (CLN). With the receipt of this document, you will have officially relinquished your U.S. nationality.

    Income Tax Consequences of Expatriation

    Once you give up your U.S. citizenship and passport, you have no further obligation to pay U.S. tax on your worldwide income. However, U.S. law imposes an…

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  • Blog

    A Primer For Those Considering Expatriation

    Is considering expatriation or foreign citizenship right for you?
    by Adam Taggart

    Friday, June 7, 2019, 5:13 PM


    A growing number of Americans are frustrated with the way in which their economy has been managed and are becoming increasingly concerned about future measures the government may take to keep its coffers full.

    A question that’s arising with increasing frequency is: does expatriation offer a viable protection to those concerned about a more financially intrusive US system?

    The answer is ‘yes’, it does offer a completely legal solution for ending your obligation to pay US income, capital gains, and gift taxes on your worldwide income. But it is certainly not for everyone and should only be pursued after lengthy and diligent consideration.

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