For the first half of 2020, a record number of Americans – 5816 – renounced US citizenship. These are the findings of the company Bambridge Accountants, specialising in matters related to tax expats. For comparison, in the whole of the year 2019 did 2072 people.
co-Owner of Bambridge Accountants Alistair Bambridge told CNN that most refuse from the citizenship of people who “left the US and decided that they had enough”. It is noted that many are concerned about the situation with coronavirus in the United States and the political course of the country, RIA Novosti reported.
Another reason is taxes: Americans living abroad must annually file tax returns, report on accounts in banks of other countries, investment and pensions.
to renounce citizenship, citizens need to pay 2350 dollars and come personally to the American Embassy in the host country.
