Re: Citizenship Abroad to Avoid Paying Taxes...
 

It's a bad idea as without US citizenship, you will have troubles working in the US again. The US has also previously put people who renounce citizenship on a "no admit" list to the USA, so you would be unable to return to the US at all in the future (ie, you would be turned back at immigration if you flew in).

More citizenship info

"Note, incidentally, that former US citizens who are deemed to have renounced their US citizenship in order to avoid paying US taxes are barred from entering the US, under a 1996 act of Congress [Public Law 104-208, § 352; INA § 212(a)(10)(E); 8 USC § 1182(a)(10)(E)]."

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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why? i dont want bolivian citizenship. im talking uk, france, swiss , etc...

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This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

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Yeah, go for Swiss. By far the easiest to get, and no worries about military service since they are neutral and all.... [img]/images/graemlins/blush.gif[/img]

Re: Citizenship Abroad to Avoid Paying Taxes...
 

I really, really doubt you want to renounce your US citizenship. Are you ever going to want to work or live in the US again?

Re: Citizenship Abroad to Avoid Paying Taxes...
 

I knew someone who did this to andorra. There were a variety of drawbacks, including only being able to send like 30 days per year for 10 years here, and is supposed to file taxes for 10 years. I know if you just reside offshore you are exempt from taxes on like your first 80k or so.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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I knew someone who did this to andorra. There were a variety of drawbacks, including only being able to send like 30 days per year for 10 years here, and is supposed to file taxes for 10 years. I know if you just reside offshore you are exempt from taxes on like your first 80k or so.

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Hey. I live offshore now. Do I get the first 80K of my gambling wins tax free? or is this only for money already being taxed by another country?

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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I really, really doubt you want to renounce your US citizenship. Are you ever going to want to work or live in the US again?

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no desire to live in usa, but would like to vacation. if i could never return, itd be a real hard decision.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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stupid nonsense.


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How so? My guess is you either misunderstood what I said, or you are just a silly little kid who has no idea how easy his life is. Eveything costs twice as much here, and we earn a lot less than yanks do.

BTW I didn't mean I don't believe you are winning, all I meant is the UK tax system doesn't treat gambling winnings as income because the players are always net losers when taken together, casino profits are taxed.

Mack

Re: Citizenship Abroad to Avoid Paying Taxes...
 

The exemption only applies on earned income, which gambling winnings do not come under.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

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why? i dont want bolivian citizenship. im talking uk, france, swiss, etc...

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This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

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EU citizenship is very hard to get.

Re: Citizenship Abroad to Avoid Paying Taxes...
 

[ QUOTE ]
[ QUOTE ]
why? i dont want bolivian citizenship. im talking uk, france, swiss , etc...

[ QUOTE ]
This is a pretty bad idea if you plan on doing anything for a living besides gambling, and because laws are never static.

-Diplomat

[/ QUOTE ]

[/ QUOTE ]

Yeah, go for Swiss. By far the easiest to get, and no worries about military service since they are neutral and all.... [img]/images/graemlins/blush.gif[/img]

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You do realize that in most cases, "neutral" does not mean pacifist, but rather "I guess we are on our own against everybody."
linky

-Diplomat