Record number of Americans are leaving the country and renouncing citizenship: report
www.independent.co.uk
In the aggregate, as many as 295,000 more people may have left the U.S. than immigrated there in 2025, according to one study
  • quick_snail@feddit.nlEnglish
    11·
    3 months ago

    pegged the outflow at around 150,000 people in 2025.

    Before 2009, a typical year saw 200 to 400 people renounce their citizenship. By 2025, that figure was nearing 5,000, with more renunciations expected this year because fees to do so have dropped steeply.

    Wut. Everything else I’ve read said the fees to expatriate are enormous. Both a percent of net worth and fixed fees.

    anyone have more info on these fees “dropping steeply”?

        • circuitfarmer@lemmy.worlddeleted by creatorEnglish
          10·
          3 months ago

          If you’re talking about the “exit tax”, it only applies if your net worth exceeds $2M.

          • fiat_lux@lemmy.zipEnglish
            2·
            3 months ago

            Or if you didn’t file 5 years of tax returns - even if you’ve never lived or earned income in the US.

            This caught an acquaintances of mine who was accidentally born in the US when their mother went into early labor. They found out about both the rule of the land and the exit tax when they were an adult when their application for citizenship in a different country was rejected for already being a dual citizen of the US.