FAQs About US Citizenship Renunciation
Dateline: Kuala Lumpur, Malaysia Our YouTube videos and articles generate a lot of questions about US citizenship renunciation. What is the process? What does it entail? How does it change your lifestyle? Where do you have to be to renounce? We’ve already...
The Pros and Cons of Renouncing US Citizenship
Dateline: Mexico City, Mexico There are a lot of myths about why people choose to renounce their US citizenship and the consequences of such a decision. This is not a choice to make lightly. That is why this article will outline the pros and cons of expatriating from...
4 Reasons People Renounce US Citizenship
Dateline: Mexico City, Mexico When it comes to anything offshore, it’s very hard to entirely understand what you’re doing until you’ve done it. That is why I am a practitioner, not a theorist. As someone who has been through the process of renouncing US citizenship, I...
Offshore Life Insurance: the Last “Tax Shelter” for US Citizens
Dateline: Kuala Lumpur, Malaysia When it comes to taxes, US citizens get a raw deal. Not only do they have to pay tax on their worldwide income, but they have to pay it regardless of whether or not they actually live there. Aside from a bit of foreign earned income...
How to Get US Citizenship: the Ultimate Guide
Last Updated September 3, 2020 Throughout its history, the United States has attracted immigrants from all over the world searching for a better life. The US is a large and diverse country with plenty of economic opportunities, so it’s no wonder why so many...
Can US Citizens Open Offshore Bank Accounts?
Dateline: Singapore When I started Nomad Capitalist, one of my primary goals was to counter some of the bad information out there on the internet about topics like opening offshore bank accounts and getting residency in other countries. See, after I decided to leave...
The Tax Consequences of Renouncing US Citizenship
Dateline: Tbilisi, Georgia December 20, 2017. I was sitting in my living room in Tbilisi, talking with my CFO, and making a number of calculations. What was I doing? I was preparing for the next day when I would go to the US Embassy to renounce my US citizenship. Why...
7 Harsh Legal Obligations of US Citizens
Dateline: Tbilisi, Georgia Much of what we do here at Nomad Capitalist focuses on what a second passport or residence can do for you. What freedoms will that new citizenship give you? Will your new residence permit give you more travel options? Which second passport...
Form 5471: How US Citizens Tell the IRS About a Foreign Corporation
Dateline: Tbilisi, Georgia Just the other day, we discussed the new requirements for IRS Form 5472 – an informational form for foreign-owned US LLCs. Today, we’re going to take on an equally-complicated form just one number different from 5472: Form 5471. Whereas Form...
Why and How I Renounced My US Citizenship: My Expatriation Story
At the tail end of 2017, I renounced my US citizenship. This is not a topic that I had planned to discuss. But I felt that you deserved to hear about a decision this big. As someone who has never been afraid to put my face out there in an industry full of “mystery...