Trending...
- PebblePad Welcomes Justin Reilly as New CEO to Drive Innovation and Growth
- Retirement Income Specialist Daniel Rondberg Joins Tom Hegna on the Exciting New Season of "Financial Freedom with Tom Hegna"
- New Website Uses A.I. To Help Readers Think All Of Your Books Into Existence
Escaping US tax as an American citizen is hard but not impossible. Some are turning to the nuclear option of renouncing their U.S. citizenship to escape U.S. taxes permanently. However, it needs careful planning to gain a second citizenship first and involves an exit tax where assets are over $2 million.
UXBRIDGE, U.K. - Missouriar -- Wealthy Americans are increasingly seeking to escape U.S. taxation through second citizenship and international relocation, according to La Vida Golden Visas, a leading global investment migration consultancy. This trend reflects growing concerns about the unique U.S. practice of citizenship-based taxation, which requires Americans to pay U.S. taxes regardless of where they live.
Following the anticipated surge in investors exploring alternative residency options ahead of the 2024 U.S. elections, La Vida has observed a notable shift in client intentions toward permanent citizenship solutions rather than temporary residency.
More on Missouriar
"The evolution in U.S. investor confidence has been remarkable," notes Paul Williams, CEO of La Vida. "In 2016, American interest in citizenship or residency by investment was minimal. Today, it represents our largest market globally, with many high-net-worth individuals seeking legitimate paths to tax efficiency."
The shift from cautious exploration of European residency programs, particularly Portugal's Golden Visa, to more decisive pursuit of full citizenship in nations like Antigua and Grenada demonstrates Americans' growing sophistication in global mobility planning.
Under current U.S. tax law, American citizens must report and pay taxes on their worldwide income, regardless of where they reside. This includes salary, investment income, and business profits earned abroad. Even Americans living permanently overseas must file annual tax returns and potentially pay U.S. taxes in addition to taxes in their country of residence.
More on Missouriar
However, a carefully planned exit strategy involving obtaining second citizenship before renouncing U.S. citizenship can provide a legal path to ending U.S. tax obligations. This process requires careful consideration of the expatriation tax (exit tax) and compliance with IRS and State Department procedures.
"Many of our clients are successful entrepreneurs and digital professionals whose businesses operate globally," explains Williams. "While their location-independent income streams offer flexibility, U.S. citizenship creates an ongoing tax burden that impacts their international competitiveness."
The growing interest in citizenship-by-investment programs reflects a broader trend among high-net-worth Americans seeking to optimize their global tax position while maintaining access to international business and lifestyle opportunities. These programs offer a structured path to acquiring citizenship first and then residency in jurisdictions with more favorable tax treatment. It provides a legitimate solution for those looking to reduce their global tax exposure while ensuring compliance with all relevant regulations.
Following the anticipated surge in investors exploring alternative residency options ahead of the 2024 U.S. elections, La Vida has observed a notable shift in client intentions toward permanent citizenship solutions rather than temporary residency.
More on Missouriar
- Daniel Schmitt & Co. Sells Rare Ferrari Owned by Sylvester Stallone
- Damian Redd's "Caught in a Fantasy" Surpasses 100,000 Views on VEVO/YouTube Following Album Reissue
- The816 Partners with Premiere Insurance to Launch Groundbreaking Community Activation in Kansas City
- Springfield: Arrest made in 1989 cold case
- Columbia Fire Department responds to outdoor gas leak, April 17
"The evolution in U.S. investor confidence has been remarkable," notes Paul Williams, CEO of La Vida. "In 2016, American interest in citizenship or residency by investment was minimal. Today, it represents our largest market globally, with many high-net-worth individuals seeking legitimate paths to tax efficiency."
The shift from cautious exploration of European residency programs, particularly Portugal's Golden Visa, to more decisive pursuit of full citizenship in nations like Antigua and Grenada demonstrates Americans' growing sophistication in global mobility planning.
Under current U.S. tax law, American citizens must report and pay taxes on their worldwide income, regardless of where they reside. This includes salary, investment income, and business profits earned abroad. Even Americans living permanently overseas must file annual tax returns and potentially pay U.S. taxes in addition to taxes in their country of residence.
More on Missouriar
- Springfield: Jefferson Avenue Footbridge to come down next month as part of rehabilitation project
- Supedia Launches as the Ultimate Resource Hub for Entrepreneurs and Business Professionals
- City of Columbia to begin accepting proposals for FY 2026 CDBG and HOME program funding April 21
- "May the Fourth Be With You" Epic Star Wars Day Run/Walk in Alexandria, Va
- City of Columbia adds parking ticket service to PayCoMo platform
However, a carefully planned exit strategy involving obtaining second citizenship before renouncing U.S. citizenship can provide a legal path to ending U.S. tax obligations. This process requires careful consideration of the expatriation tax (exit tax) and compliance with IRS and State Department procedures.
"Many of our clients are successful entrepreneurs and digital professionals whose businesses operate globally," explains Williams. "While their location-independent income streams offer flexibility, U.S. citizenship creates an ongoing tax burden that impacts their international competitiveness."
The growing interest in citizenship-by-investment programs reflects a broader trend among high-net-worth Americans seeking to optimize their global tax position while maintaining access to international business and lifestyle opportunities. These programs offer a structured path to acquiring citizenship first and then residency in jurisdictions with more favorable tax treatment. It provides a legitimate solution for those looking to reduce their global tax exposure while ensuring compliance with all relevant regulations.
Source: La Vida Golden Visas
Filed Under: Business, Government
0 Comments
Latest on Missouriar
- ENERGIZER HOLDINGS, INC. TO WEBCAST A DISCUSSION OF SECOND QUARTER FISCAL YEAR 2025 RESULTS ON MAY 6
- Local Leap Marketing Wins Creative Excellence Award for Healthcare Web Design
- Home Run Pest & Termite Control Delivers No-Contract Pest Solutions to Wylie, Rockwall & Surrounding Areas
- Lauren Coyle Rosen Unveils Debut Album 'Purify Flame'
- Alex Shaw awarded Senior Certification for Genesis FirstPath ABA/TMS Software
- Best Autism Care- St Charles County, Missouri
- American Mensa Welcomes 7-Year-Old Savannah Boy
- Springfield: Prosecutor determines February officer-involved shooting justified
- Portland Hosts Mensa's 2025 Mind Games®
- T&S and US Conec Ink Global Licensing Deal on MDC Technology to Advance High-Density Optical Interconnects
- Goosechase Rolls Out Unlockable Missions, Its Most Anticipated Feature Yet
- Couples Too Broke to Break Up – Divorce Expert Warns of Hidden Separation Crisis Amid Cost of Living Squeeze
- Springfield Police investigate murder, suicide at John B. Hughes Apartments
- Coming Up on "Financial Freedom with Tom Hegna" Retirement Authority Daniel Rondberg from Nation's First Financial
- The Ten News Wins 2025 Ambie Award for Best News Podcast
- Columbia: Incoming council members to be sworn in at special City Council meeting, April 17
- ServiceAgent.ai Brings 24/7 AI Call Answering to America's Home Services
- Springfield: Public's assistance needed in identifying suspect vehicle
- Jed the Fish, The Rapscallion of Los Angeles KROQ's Airwaves and Provocateur, Has Signed Off at 69
- Mayor Cara Spencer Takes Office as the 48th Mayor of St. Louis