Giving up US citizenship soon

nutserious said:
Was browsing Facebook random people I "know". It's funny they all act so patriotic yet they live in the US. Lol, I love to be patriotic too if I wasn't living here.
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a) Nostalgia (you tend to remember the nice things and downplay the bad ones)

b) They're living a better life now, they'd be crazy to rub it in the face of the people who don't. So, a touch of "patriotism" fakes that they are in a disadvantage - "hey, you're so lucky you still live in our great country" ;)
 
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I was doing some more research and before becoming stateless on purpose, its probably best to contact various immigration lawyers from different nations.

The Visa policy of many nations are confusing when it comes to stateless persons since there are only 12 million or so stateless persons in the world and only a very small fraction of them are able to even travel. So there is no need to put up information on the matter.
 
If there was just a way to transfer your citizenship to me. I am from Asia :P !
 
USA is one of the worst countries to have citizenship in due to taxes. Apparently you are obligated to pay despite having residency in another country. Only way to avoid this is to get another countries citizenship. it's definately worth it if you make x,xxx,xxx+

Jurisdictions with Zero/close-to-zero tax:

Gibraltar
Andorra
UAE (i.e. Dubai)
Panama
Bahamas
Bulgaria (Max income tax rate = 10%)
Monaco (super expensive but worth it)
Hong-Kong
couple more but those I recommend.


United states taxes is super high so I understand your choice, I would too.
 
STKMKTFTGRU said:
But the taxes are much higher in the usa, I'll be moving to a lower taxed nation. But if I were to remain a usa citizen I'd still owe taxes to America.
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lol if you are an american citezin whereever you are you have to pay your us taxes....there is the truth....

you wanna move on to morocco.... you pay 0 taxes as IM .. marrakech can be your favorite distination
 
amoon said:
lol if you are an american citezin whereever you are you have to pay your us taxes....there is the truth....

you wanna move on to morocco.... you pay 0 taxes as IM .. marrakech can be your favorite distination
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Just keep in mind that morocco are known for it's religion. If you want to live free, I'd definitely suggest another country.
 
amoon said:
lol if you are an american citezin whereever you are you have to pay your us taxes....there is the truth....

you wanna move on to morocco.... you pay 0 taxes as IM .. marrakech can be your favorite distination
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Money from IM is counted as personal income.Taxes in Morocco start at 10% for anything over 30,001 MAD ($3080) and goes up to 38% for income over 180,000 MAD ($18,500).

Certain times of the year alochol is hard to get, and you can go to jail for having sex without being married.
 
jazzc said:
When you grow up to travelling age, you may find out that modern life exists outside your country. Brace yourself, clean water exists on places where taxes are low and jury duty inexistent.



Not everyone person is on the same spot. A guy on a bad country certainly wants to go to the US or northern EU. That's an upgrade for him. Other guys are on different spots and have other issues to solve. Getting out is an upgrade for them.
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This. Wises comment in this thread.

I moved from a country in europe because of the taxes. YES, Can you believe it. I can be anywhere on the planet within 24 hours.
Yep, I did left my parents. ANd yes, I do visit them frequently with a flight ticket of 100$.
 
STKMKTFTGRU said:
Money from IM is counted as personal income.Taxes in Morocco start at 10% for anything over 30,001 MAD ($3080) and goes up to 38% for income over 180,000 MAD ($18,500).

Certain times of the year alochol is hard to get, and you can go to jail for having sex without being married.
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You still have Costa Rica that is easy to get and maintain a citizenship in.
Considering you are from the US it's relatively hard to find a great country because usually citizenship is not an easy option.
But like you stated earlier, the quality of living in Bulgaria is low. If that is no issue for you, then go ahead. Easy to maintain citizenship there aswell.

You got Cyprus too. Run company in Malta residing in Cyprus gives you major tax advantage and ends you at an effective tax rate of 5%.
 
STKMKTFTGRU said:
Money from IM is counted as personal income.Taxes in Morocco start at 10% for anything over 30,001 MAD ($3080) and goes up to 38% for income over 180,000 MAD ($18,500).

Certain times of the year alochol is hard to get, and you can go to jail for having sex without being married.
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Lived there for 4 months, smoked a lot of hashish, been in night clubs, could buy alkohol and cigarettes whenever i want (even in ramadan but i just bought hashish in that time, but have to admit that you see a drop in supply of hashish because dealers get extra hard sentences when they sell during ramadan)

Its pretty much my dream destination once i get successful enough, check that blog: http://mike-simone-marokko.npage.de/

That house cost in my country about 4-600k$, i asked a friend of mine and he said that house would cost an estimated 60-80k$ in morocco.

When it comes to taxes you should also mention that entrepreneurs dont pay any taxes the first 5 years, after that the taxes are quite high but also very easy to avoid.
 
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Bulgaria is amazing. Beautiful women, cheap booze and decent Internet. What more could you need? :)

Btw, I think you need to pay 2k or 3k to renounce your US citizenship. I wouldn't be surprised if they push it up to 10k.
 
You are the first person I've ever heard of actually renouncing US citizenship. Good luck!
 
This thread is supposed to be about a business decision since citizenship is nothing more than a contract between 1 person and a government. I don't see how people can put so much emotion into wanting to end a contract that has become bad.

Plus its also possible to get citizenship back after you renounce it, so its not as bad as it seems. Joel Slater was able to gain it back several years after giving it up.
 
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MrBlue said:
Bulgaria is amazing. Beautiful women, cheap booze and decent Internet. What more could you need? :)

Btw, I think you need to pay 2k or 3k to renounce your US citizenship. I wouldn't be surprised if they push it up to 10k.
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Crazy part is with more and more people renouncing they will def make it more difficult to do so, they are definitely increasing the price of that even more
 
STKMKTFTGRU said:
This thread is supposed to be about a business decision since citizenship is nothing more than a contract between 1 person and a government. I don't see how people can put so much emotion into wanting to end a contract that has become bad.

Plus its also possible to get citizenship back after you renounce it, so its not as bad as it seems. Joel Slater was able to gain it back several years after giving it up.
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Possible but they will def change that in the coming future, too many people are leaving the USA and gov dont like it.... like previous guys mentioned if your making x,xxx,xxx then def do it if you really want to come back to USA save up some money and get a diplomatic passport and you may not to pay taxes too, one of the benefits of having one
 
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hustleup said:
Possible but they will def change that in the coming future, too many people are leaving the USA and gov dont like it.... like previous guys mentioned if your making x,xxx,xxx then def do it if you really want to come back to USA save up some money and get a diplomatic passport and you may not to pay taxes too, one of the benefits of having one
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But due to the exit tax and the 10 years of 31 days or more visting America = Tax resident, its best to do it as young as possible.
 
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