Citizenship Abroad to Avoid Paying Taxes...

[KaneKungFu123]

The fact that these UK 'blokes' dont have to pay taxes makes me green with jealousy. I'll owe Uncle Sam an abusrd amount of money, perhaps a $100K at the end of the year. If it costs even half of that to establish citizenship in another country Ill eat my hat.

Has anyone put in any serious research about giving up US citizenship in exchange for that of another country?

[Ulysses]

If you want to renounce your US citizenship and become a citizen elsewhere, this is pretty easy to do in a lot of small countries for a small fee with minimal requirements.

[Punker]

Renouncing your US citizenship is not that easy, especially if the US gov't belives you are doing so for tax purposes. US gov't

"Also, persons who wish to renounce U.S. citizenship should also be aware that the fact that a person has renounced U.S. citizenship may have no effect whatsoever on his or her U.S. tax or military service obligations (contact the Internal Revenue Service or U.S. Selective Service for more information)."

[jakethebake]

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If you want to renounce your US citizenship and become a citizen elsewhere, this is pretty easy to do in a lot of small countries for a small fee with minimal requirements.

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Try HERE. [img]/images/graemlins/grin.gif[/img]

[mackthefork]

Sure pop over here for a month, and pay the equivalent of $1100 for a 2001FP, $11 for a gallon of petrol, twice as much as you pay for almost any computer component or any consumer electricals. Pros and cons on everything, I wouldn't move from the UK, but you would be crying out for home after a couple of days, taxes on imaginary earnings or no.

Mack

[KaneKungFu123]

stupid nonsense.

[ QUOTE ]
Sure pop over here for a month, and pay the equivalent of $1100 for a 2001FP, $11 for a gallon of petrol, twice as much as you pay for almost any computer component or any consumer electricals. Pros and cons on everything, I wouldn't move from the UK, but you would be crying out for home after a couple of days, taxes on imaginary earnings or no.

Mack

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[mackthefork]

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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

[Jax_Grinder]

Game, set, match.

I, however, do not believe the OP is a net winner such that he would be in the hole to Uncle Sam the tune of $100,000 in income tax.

[querulous]

Set up an offshore corporation. Hire yourself as a contractor, paying whatever minimum amount you think you can convince the authorities you live on. Buy everything else through the company. You'll probably have to move offshore for this to work, but you can retain US citizenship.

[Derek in NYC]

People like you make me want to puke.