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Old 10.08.2013, 20:52
MartinDM MartinDM is offline
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Re: New report on drastic increase in expats giving up US passport

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So have many of us who've renounced poptart. The threat of having my bank account/s closed, not tax reasons, is why I gave up citizenship to a country I haven't lived in for 45+ years. Most of those doing the same are like me; we're not rich and we don't owe the US tax man anything, we just want to be able to bank, get a mortgage, save a little without feeling like criminals because of our nationality. I doubt any statistics would show so many people giving up their citizenship because of one ill-conceived law either.
@MedeaFleecestealer I didn't realize that their wasn't reciprocity offered as part of the deal.

In your case, having been here for 45 years, of course it makes sense to give up your passport. However, for the population of people who have just moved here, they probably aren't going to wait 45 years to decide its not worth the blue passport if they have decided to make Switzerland (or any place other than the USofA) their home. It will be interesting to see if the "new generation" of US expats give up their citizenship more quickly. Of course, they could only do so if they already have some kind of dual or have been here long enough to allow them to receive a red passport.
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