The BBC posted an article recently on the exodus of U.S. Citizens and asked readers to share their stories. A couple of different Brockers posted the link to the follow up on comment threads and one asked if it couldn’t be shared in a post, an excellent idea, so here it is.
The article contains the stories of those who came to the conclusion that being a dual citizen with the United States as one of those nationalities wasn’t workable.
Some specifically cite the burden and expense of tax compliance, but not everyone. And for most, the reasoning was far more complex.
I haven’t yet relinquished my citizenship but have plans to do so at the earliest opportunity and like most of the stories you will read at the BBC, my main reasons have nothing to do with “evading” taxes because I don’t owe any and being a relatively new ex-patriot, I don’t have much in my new home of Canada to report anyway. I was lucky enough to discover the pension and savings traps set by United States for its “off-shore” citizens and so have avoided them.