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Comment on Can trump make it so I can sell my citizenship for 5 million dollars?

yukichigai@lemmy.sdf.org ⁨1⁩ ⁨month⁩ ago

Ironically enough, you actually have to pay the US Government to renounce your citizenship. The base fee is $2,350, but the application process is so lengthy and complex the total cost can run up into the $20k range. Oh, and you’re still obligated to pay taxes and subject to orders for mandatory military service.

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Lemminary@lemmy.world ⁨1⁩ ⁨month⁩ ago

TAX & MILITARY OBLIGATIONS
Persons who wish to take the oath of renunciation under INA 349(a)(5) or who are requesting a Certificate of Loss of Nationality under INA 349(a)(1)-(4) should be aware that if the Department issues of a Certificate of Loss of Nationality in the person’s name (reflecting the official determination of loss of U.S. nationality) the former U.S. citizen’s U.S. tax or military service obligations may remain unchanged (contact the Internal Revenue Service or U.S. Selective Service for more information).

L M F A O

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- HeyThisIsntTheYMCA@lemmy.world ⁨1⁩ ⁨month⁩ ago
  I’m pretty sure that’s supposed to mean that they don’t assess any new liabilities or obligations, but you can’t get out of anything they’ve already assessed by relinquishing citizenship.
  
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  - Wilco@lemm.ee ⁨1⁩ ⁨month⁩ ago
    This is exactly what it is. You don’t get out of paying just by relinquishing citizenship.
    
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- SwordInStone@lemmy.world ⁨1⁩ ⁨month⁩ ago
  these seem like the only good reasons
  
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Shezzagrad@lemmy.ml ⁨1⁩ ⁨month⁩ ago
Why is it Americans still need to get taxed and drafted even outside their home nation. Nobody else does that

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- yukichigai@lemmy.sdf.org ⁨1⁩ ⁨month⁩ ago
  For taxes: initially it was because business owners were renouncing their citizenship as a way to avoid income and capital gains taxes, as well as estate taxes.
  
  For the draft: during the Vietnam War people would flee to other countries (usually Canada) and renounce their US citizenship, even if they didn’t obtain citizenship elsewhere. Becoming a stateless person was (correctly) seen as less of a death sentence than being sent to Vietnam.
  
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jagged_circle@feddit.nl ⁨1⁩ ⁨month⁩ ago
I think its a percent of your net worth.

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