Yesterday, Little Green Mom shared with you the latest policy on Meibao's return to China, and the general direction of the policy has been relaxed!
But there are still a few Mabels who have encountered strange incidents of refusing to settle down and having to give up their American citizenship!
First of all, there are two ways to obtain U.S. citizenshipThe first type:He was born in the United States, naturalized in accordance with the U.S. Constitution, and has been a U.S. citizen since birth. Mabel, for example, falls into this category.
The second type:It is a foreign national who immigrates to the United States through various methods and obtains U.S. citizenship. For example, through political asylum, employment-based investment immigration, and so on.
If, what Little Green Mom said is if, if Mabel really wants to give up her American citizenship, how should she operate, and can it be successfully realized?
Of course you can, provided that,The child must first be 18 years oldBecome a U.S. citizen who can fulfill your legal obligations and go through the denaturalization process on your own!
Mabel's U.S. Citizenship,Unless he gives up on his ownOtherwise, it will not be revoked. Because Mabel's landing nationality is conferred by the Constitution.
U.S. citizenship can only be acquired through acquired immigrationin order to be able to revoke U.S. citizenship. The main reasons for revocation of U.S. citizenship are serious concealment, falsification, fraud and other illegal acts of immigration information.
Mabel has U.S. citizenshipIn the United States, there is the right to voteIn the event of a distress outside the United States, you can seek asylum and help from the United States**, you can work and engage in politics in the United States, and you can enter and leave the United States at will.
At the same time, Maybell's assets and income around the world are subject to U.S. taxes, and after the introduction of FATCA (Foreign Account Tax Compliance Regulations) in 2010, assets and income abroad are also paidMust be declared.
For example, Mabel wants to avoid taxes in the future because of her super high level of wealth, or Mabel was born in the United States and automatically obtains American citizenship by her parents, but she doesn't want to be an American when she becomes an adult.
In short, when Meibao feels that the disadvantages brought by the responsibility of American citizenship are higher than the convenience brought by status, and is no longer willing to continue to be a U.S. citizen, then,He can voluntarily renounce his U.S. citizenship.
British Prime Minister-boris johnson
He was born with dual citizenship of the United States and the United Kingdom. However, FATCA did not want to put up with U.S. tax filings and filed for renunciation of U.S. citizenship in 2014. However, he had made a profit from a London residence and was pursued by the United States for a departure tax of 50,000 poundsIn 2016, he paid his taxesThe renunciation is officially completed.
Bitcoin Jesus - Roger Ver
In 2006, he moved to Japan as one of the earliest bitcoin investors, with a net worth of more than $400 million, and later immigrated to St. Kitts by investment, giving up his American citizenship in 2014.
These two world-class outstanding figures were born in the United States, so they obtained American citizenship, and finally voluntarily renounced their citizenship!
Little Green Mom introduces the legal process of renunciating U.S. citizenship below
Phase 1. 1It is advisable to have a second passport before abandoning citizenship to avoid becoming stateless after renunciation. It is even better if you have a tax residence outside the U.S., as non-U.S. persons are generally not allowed to settle in the U.S. for a long time. Generally Meibao is no problem, because he is also Chinese.
2.Assess whether you will be recognized by the IRS"Specified Abandonment".(covered expatriot), which needs to be paid to the United States"Departure tax".（exit tax)。In 2020, the United States gave each renouncer a tax exemption of $699,000, and the excess must be taxed at the capital gains tax.
Phase II. Apply for renunciation1Choose a U.S. embassy or consulate outside the U.S. to apply for renunciation and schedule an interview online.
2.The purpose of the interview, the consular interview, is to help the United States** understand why you want to renounce your U.S. citizenship.
At the time of the first interview,The consular staff will confirm that they have voluntarily renounced their nationality and not been forced by others, and will also ask if they have abandoned their nationality because they want to evade taxes.
1-2 weeks later, go to the consulate for a second interview, this time you need to raise your right hand and take the oath to renounce your U.S. citizenship. You will need to pay it at the time of the waiver interviewThe waiver fee is $2,350and sign some**, including but not limited to D-4080 (Affidavit of Abandonment), 4081 (Statement of Consequences and Effects of Abandonment of U.S. Citizenship), 4082 (Statement of Witness of Abandonment), 4083 (Certificate of Loss of Citizenship), Form 8854 (Statement of Tax Compliance for 5 Years Prior to Abandonment).
3.Wait for the official notice, and then the consulate will send all the documents to the United States *** for approval, stamping and completion of renunciation.
The U.S. tax perspective stipulates that from the day the oath is taken, there is no longer a U.S. tax person. But before receiving the certificate of renunciation, he was a U.S. citizen. From taking the oath to getting the certificate of renunciation issued by ***,Generally, it takes more than 5 months.