Why Thousands of Americans are Renouncing Citizenship

Why Thousands of Americans are Renouncing Citizenship

Jan. 18, 2025

Nomad Capitalist

In this video, we a cover a survey finding that more Americans are renouncing their citizenship and thousands are doing so annually. We go over individual cases of renunciants detailing why they gave up their U.S. passports.

Mr. Henderson also shares his own experience with renouncing U.S. citizenship and clears up misconceptions about the cost of doing so, the ease or difficulty of the process, and how one can return to the USA after relinquishing the passport.

00:00 Is it Worth Considering Renouncing Your Citizenship?
00:39 More Americans are Renouncing Citizenship - Case of French Citizen Born in USA
03:12 Boris Johnson's Renunciation of US Citizenship
03:41 U.S. Citizenship-Based Taxation and Reporting Requirements - Coming to France Soon?
05:20 $2,350 U.S. Citizenship Renunciation Fee and Standing on Principles
06:46 Thousands of Americans Renouncing Citizenship Annually - Complications with the Process
10:16 How to Return to the USA After Renouncing Citizenship
11:25 Lie About the U.S. Exit Tax
11:48 Reasons for Renouncing U.S. Citizenship vs. Holding U.S. and Other Passports
18:16 Reasons NOT to Renounce U.S. Citizenship
18:39 Will the U.S. Save its Citizens Abroad?
20:18 Concerns Over Prejudice and Persecution
21:07 U.S. Tax System vs. Other Countries and Following the Rules
23:25 What is Right and Fair for You?

Nomad Capitalist helps clients "go where you're treated best". We are the world's most sought-after firm for offshore tax planning, dual citizenship, and international diversification and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors.

We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country.

No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't.

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Original: https://youtu.be/eqkuYeF5sgE

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Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best."

Andrew Henderson has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.

Nomad Capitalist has served as the “architect” and “general contractor” for 1,500+ clients who wanted one company to manage their holistic plans. We help these clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against current and future threats at home.

Our in-house team of researchers, strategists, and executioners know more about these strategies than just about anyone. We’ve also spent more than a decade building a trusted network of attorneys, accountants, real estate agents, and others to assist our clients. As a result, our approach is not only holistic, but agnostic; we offer our clients advice on and options in 90+ countries, more than any other firm by far.

If you’re looking to diversify internationally, whether for lower taxes or as a “Plan B”, trust the industry pioneers at Nomad Capitalist and our experience serving the needs of globally-minded entrepreneurs and investors.

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