# Renouncing US Citizenship



## jizanthapus (Jan 14, 2015)

HI,

I am looking to hear the experiences of people who have renounced their US citizenship, because I'm seriously considering renunciation. My friends and family have urged me to consider the decision thoroughly. I've checked some guides on renouncing and feel like that's a good starting point for info, but I would love to hear from others considering it or those who have done it.

My questions
What was your renunciation experience like and why did you decide to do it?
What resources (online / offline) did you consult before proceeding?
What should I and others like me consider before proceeding?
Any pitfalls to avoid or opportunities to pursue?
Anything you would do differently if you could redo it?


My own situation:
I was born a dual citizen, to Canadian and American parents. I'm in my 30s, have finally established a career in IT, and have lived outside the US for over 10 years, visiting family in the US on holidays every few years. While it's possible I could relocate to the US for career/economic reasons, neither my non-American spouse or I desire to relocate or return to the US. It's more likely we'll find our skills & bilingualism in demand in Asia or Canada. The prospects of putting down roots in Canada or Asia are much more appealing & likely. Regardless, I can keep my single Canadian citizenship and enjoy the benefits of Canadian life or use my Canadian passport to apply for visas.

Sadly, there are possible tax implications because of the final filing requirement and possible exit tax, so it appears that it would be better to renounce sooner than later. I do not own a home, a business, or a vehicle, and we have no children and no significant retirement savings, only a modest emergency fund, and are finally saving toward buying a home & putting down roots. It seems like a good idea to renounce before going over the exit-tax earnings/asset threshold or before rules for US citizens abroad become more strict.

I'm happy to answer other questions if it will lead to good conversation.


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## George (May 20, 2007)

You can find a good book on Amazon titled: "How to Renounce Your U.S. Citizenship in Two Easy Steps". I read it and think many people over-think the process.

Canada does seem to offer the challenge of there being a large back log of renunciants. You may wish to check with the closest consulate and get something scheduled.


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## Jrge (Mar 22, 2011)

Hi,


jizanthapus said:


> HI,
> 
> I am looking to hear the experiences of people who have renounced their US citizenship, because I'm seriously considering renunciation. My friends and family have urged me to consider the decision thoroughly. I've checked some guides on renouncing and feel like that's a good starting point for info, but I would love to hear from others considering it or those who have done it.
> 
> ...


Ultimately this is a personal decision. However, have you actually spoken with your tax accountant? Have you measured the pros-cons?

Whilst we do not intent to move to the USA in the foreseeable future, we have decided to keep our American Citizenship. The reason: it's an extra option we can exercise should we want/need to move back. Avoiding any immigration process will always save time and money.

Good luck.

Animo
(Cheers)


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