Hi everyone, Aaron Day here from Sao Paulo, Brazil, with another episode of Offshore Maven. Whether or not to renounce your citizenship if you're a US citizen, that is. I get this question a lot, and one of the videos I did years ago on this topic has become quite popular, with many comments and views. Expatriation is one thing, but you're still going to need a passport wherever you go. Now, I discourage people from renouncing their citizenship. Probably the most compelling reason is that while there used to be tax advantages, tax is no longer a major issue. With the new FATCA laws, the US seeks to tax all US dollar denominated investments overseas, regardless of the citizen's country of origin. So, there's little to no tax advantage in renouncing citizenship. Another reason why people consider renouncing is due to moral and conscientious reasons. It's now become evident and obvious that the US has played a role in the creation and funding of ISIS. A recent article by Seymour Hersh, a respected journalist, provides inside testimony that confirms this. Additionally, it's fairly obvious that the US intentionally toppled countries. Perhaps this information bothers you to the point where you feel it's time to leave. I myself left Miami when George Jr. attacked Iraq. It just seemed like the stupidest plan, which ultimately proved to be true. I couldn't bear remaining there and being a hypocrite, living in luxury while criticizing the stupidity of another Middle East invasion. If you feel compelled to leave, my suggestion is to get off the grid more. You don't need to renounce your citizenship, and I discourage it because it would only cause problems. There is a regulatory period of five to ten years where your actions will be closely monitored. It's much better to live...
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Video instructions and help with filling out and completing Can Form 8854 Renouncing
