[todd8]

This isn’t an option for US citizens. Income made anywhere in the world is taxable and requires reporting and payments to the US. Furthermore, giving up one’s US citizenship requires an exit tax that taxes all unrealized gains as if you sold all assets the day before renouncing citizenship.

If the IRS suspects that you are renouncing citizenship to avoid future taxes, I believe that they can tax your next 10 years of (worldwide) income as well.

US tax laws and regulations are complex and I’m not a lawyer so don’t take my advice. (I plan on keeping my US citizenship.)

[1] https://www.irs.gov/individuals/international-taxpayers/taxa...

[2] https://www.escapeartist.com/blog/us-taxes-worldwide-income/

[grecy]

Right, I read that's a big part of the reason people are giving up US Citizenship. I'm not a US citizen, so it's not a concern for me.