Now that you've heard what it's like to renounce your US citizenship and how to do it, what about the other side of the story? What are some reasons you might want to keep your citizenship status?
Kristin explains why she's keeping her US citizenship forever, despite the many reasons people have for renouncing.
She also reads and reflects on some of the top comments from her video interview with Erika Lind on why she renounced her US citizenship and moved to Canada.
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EPISODE 116 TOPICS DISCUSSED:
- The top reasons why people choose to renounce their US citizenship:
- Cost and complexity of paying US taxes abroad
- Difficulties of opening an offshore bank account
- Marrying a non-US citizen abroad
- Concerns about the political climate
- Disappointed in the direction of the US government
- Conflicting values and principles with US policy or culture
- Feeling disconnected from the US; no strong ties
- Why you might NOT want to renounce your US citizenship
- Why Kristin decided she's not renouncing:
- Freedom
- Choices
- Family
- Global citizenship
- Travel restrictions
- Future uncertainty
- Losing your SSN
- And more
- How to put a monetary value on time
- Why Kristin doesn't think that the US government will ever repeal citizenship based taxation
- The possibility of a global tax system in the future
- How many people renounce their citizenship each year
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