RELIQUISHING OR RENOUNCING CITIZENSHIP

RELIQUISHING OR RENOUNCING U.S. CITIZENSHIP

Most people that RELIQUISH OR RENOUNCE their citizenship are usually citizens from the USA and do so for tax reasons so most of this section will be dealing with U.S. Citizens but some of this information will be dealing with other high tax countries as well.

If you are from other high tax countries that tax worldwide income based on residency and not citizenship from such countries as Australia, Ireland, United Kingdom, Germany, Sweden, Norway, Finland, New Zealand, Greece, Italy, Slovenia, Israel, France, China, Iceland, The Netherlands, Belgium, Austria, Denmark, Japan and Portugal there will be a separate section for you on this topic.

The act of relinquishing citizenship if you are a U.S. Citizen is done outside the USA at a U.S. Consulate or U.S. Embassy.

Sometimes the reason for relinquishing citizenship whether it be a U.S Citizen doing this or a citizen from another country is a foreigner might want to get the same citizenship of his spouse and that new country where he is trying to get citizenship from does not allow dual citizenship so the old citizenship is given up by the foreigner in order to get the new citizenship.

Someone also might want to get citizenship in the foreign country he is currently working because he might be barred from certain business opportunities in that country because he is not a citizen of that country and in order to get the new citizenship, he might have to relinquish his former citizenship.

Have you ever heard the old saying “the only thing that is for sure is death and taxes”?

Well the death part is correct but not the tax part.

You definitely can avoid all personal income taxes, corporate taxes, stamp taxes, capital gains taxes, inheritance taxes, estate taxes and property taxes.

Even sales taxes and VAT can be avoided in a lot of cases if you buy everything second hand or you rent.

Property taxes and stamp duties can also be avoided by either renting or by only buying in a country that has no stamp duties or property taxes.

If these countries want your business, they need to roll out the red carpet for you and draconian taxes is not the way to get investor’s business.

First of all, if you are a U.S. Citizen and you want to avoid taxes, you can either take it in baby steps and do it slowly or you can go very fast and relinquish and get out quickly.

Either way, if you are a U.S. Citizen, you need to get outside the USA and I would advise you to get a second passport for insurance purposes even if you never give up your U.S. Citizenship.

A lot of people can eliminate their taxes totally by filing the Foreign Earned Income form 2555 and leaving the USA but don’t cut corners on this form. You have to be outside the USA and its overseas territories in other foreign countries at least 330 days of a qualifying year.

If you come back to the USA and you cheat on this it will show by the stamping on your passport when you came back and when you left the USA.

Ultimately in order to legally avoid all the taxes mentioned above you will need to relinquish your U.S. citizenship and get a second citizenship and get all your assets outside the USA and its overseas territories and you need to get outside the USA also but you can make that decision if you want to go that far.

Getting a second passport is a bridge that needs to take place for insurance purposes and then if you decide later to get out of your U.S. Citizenship then you have the second passport to fall back on.

Also, if the crap hits the fan and you need to get out quickly that second passport can save not only your finances but even your life.

Rule of caution: Don’t wait until a civil or criminal problem surfaces before you start to get your second passport. I know three personal cases of people that not only applied for a second passport but got it and then their preexisting problem surfaced after being granted their second passport which was never mentioned on their citizenship application form and their citizenships were revoked.

I don’t know of one country that offers these fast track citizenship programs that has not had at least one person’s citizenship revoked because of lying on the citizenship application form.

Of the revocations that I know of personally and read about which are very few in number; most were done right after or very soon after the passports were granted and 100% of these people lied on their citizenship applications and had problems when they applied for the citizenship and these problems were never mentioned when applying for citizenship.

If revocation does occur more than likely you will lose all government and legal fees you have already paid on top of the passport.

This is why I say to get the second passport before any problem materializes or before you see a problem on the horizon.

I have also seen people get second passports where a big problem happened after they got the second passport and there was no proof that the person had or even knew about the problem when he applied for the citizenship and they were protected from the country going after the person.

There are civil and criminal problems that I have seen from many countries that if brought out on the citizenship applications will not be even a civil case much rather a criminal case in the second passport country and this is why you need to be totally open and honest when filling out these citizenship forms.

Our company has never had a client turned down for citizenship because we do a Preliminary Due Diligence test before you start to pay the government fees and this can save you a lot of money.

China, Russia, Syria, Iran, Saudi Arabia, the UAE and may other countries have such abusive laws especially dealing with “freedom of speech” matters that you can go to prison for many years or even die from these acts which second passport countries don’t consider as being a crime at all.

If you have a female for instance in your apartment in Dubai and the two of you are alone and she is not a relative and there is no marriage contract between the two of you, both of you can go to prison whether you had sex or not.

If you speak negatively against the Royal Family of Dubai or the government of Dubai you can go to prison.

If a citizen of Russia tries to run for public office in Russia or are openly critical about Putin you will all of a sudden have to go to jail for some trumped-up crime which you did not do or worse disappear.

Just because you have a problem does not mean you will not get the passport.

If you are a billionaire in Saudi Arabia and all of a sudden the country needs more money for arms and the way to get this revenue fast would be to kidnap other billionaires and hold them in the Ritz Carlton in Saudi Arabia for months [which by the way happened] with no explanation except the government said you were involved in money laundering ,with no proof, and all your assets are frozen until you pay with some of these people disappearing because of non-compliance; would you say this was a crime?

The above is a crime in Saudi Arabia only because a dictator says so and since he is a dictator, he does not need to show proof.

I lived in the UAE for four years and when all the problems occurred between Qatar and the UAE a newspaper came out with the headlines basically saying “anyone criticizing the actions the UAE has taken against Qatar will be met with swift action of a fine of 500,000 AED [about 138,000 USD] and 15 years in prison.” Is this a crime? It is in the UAE.

When revocations do occur, they are almost always done very soon after the passports are granted and not years later and are extremely rare.

Getting a good second passport will take at least 3-4 months to complete if you do so in the Caribbean.

If you are a U.S. Citizen and you invest abroad or you move abroad and don’t give up your current citizenship, your tax and compliance paperwork will usually increase unless you just simply retire but you will still be under the tentacles of the IRS.

You can totally eliminate all tax paperwork if you relinquish your U.S. Citizenship and move not only yourself but all your assets outside the USA and then you can get your taxes to zero but you would have to have a second citizenship to do this because the U.S. government will not allow your relinquishment to take place unless there is another citizenship in place to replace the old one.

If you did not do the above, you would be a stateless person which means you would have no way to travel and no protection that citizenship does provide.

You will have to fill out a questionnaire from the U.S. Department of State Bureau of Consular Affairs that is entitled INFORMATION FOR POSSIBLE LOSS OF U.S. CITIZENSHIP and this form will ask which country you have your second passport in as if it is any of their business.

Remember the IRS has control on this application. If they do not like your answer, they can reject it and your relinquishment. The IRS is getting more and more nosier on this form.

You also have to have filed your last five years of tax returns before relinquishment or the relinquishment will not be completed.

The FBAR [ Foreign Bank Account Report] and FATCA [Foreign Account Tax Compliance Account] paperwork will drive you crazy if you remain a U.S. Citizen and live outside the USA and not relinquish your citizenship and a lot of banks will not deal with you because of the cost of compliance on their part and liability issues with the IRS.

The IRS has sued several big banks stating they helped their clients tax evade, UBS being one of them, and has won big because these banks have U.S. branches in the USA and most of these banks have all totally ditched having U.S. clients.

Rule of thumb to always follow: WHETHER YOU HAVE RELINQUISHED OR NOT DO NOT EVER PUT MONEY OFFSHORE IN A BANK THAT HAS ANY U.S. BRANCHES AND STAY AWAY FROM BUYING U.S. EQUITIES BECAUSE THOSE EQUITIES ALTHOUGH BOUGHT BY AN OFFSHORE BANK HAVE TO BE BOUGHT THROUGH A U.S. BROKER.

I recently talked to a former U.S. Citizen who told me he had ditched all U.S. Brokers and U.S. Banks.

He then told me he was using one of the cheapest brokers in the world for buying equities out of Hong Kong. I then told him who I thought he was using [which I will not use the broker’s name] and he said how did you guess and I said because I knew the cheapest international brokers in the world and they were the cheapest for overall trading out of Hong Kong.

I asked him if he liked using a U.S. Broker and he said hell no.

He then said that is why I used this firm.

I then told him that the firm he was using was under a Hong Kong Company but that the mother branch was in the USA and if he ever had a problem in the USA, I told him the mother branch could control the sister branch out of Hong Kong.

The broker had the same name in Hong Kong as in the USA but he thought because it was in Hong Kong he would be protected.

If you do not want any control from the USA, do not go into any branches whether be a bank or brokerage company that are even outside the USA if the mother branch is in the USA, even if the sister branch is under a corporate structure in another country outside the USA.

FATCA laws have made it impossible for foreign banks to deal in the U.S. Dollar unless the FATCA forms are signed by these foreign bank directors. All U.S. Citizens are issued W9 forms by these foreign banks and these forms go to the IRS so they know what you are making SO IF YOU CHEAT YOU ARE FOOLISH.

You are still a lot better off investing offshore than onshore if you are living in one of the high tax countries in the world even with the tax authorities knowing what you have.

The tax authorities cannot seize your money like they can if the funds were onshore UNLESS YOU MAKE YOUR MONEY ILLEGALLY like stealing money, drug trafficking, rape, murder, prostitution, racketeering, sales of illegal arms, money laundering, and many other crimes because of treaties that the USA and other countries have with a particular offshore country.

Even then it is difficult to get to these funds especially if they don’t have you in custody.

I am not trying to teach you to become a criminal.

If you plan on doing things illegal please stay away from me because I don’t want your business but I am just pointing out how ironclad your shield is when money is protected offshore and you have a second passport.

All U.S. dollars you wire whether it be to the UAE or the Cayman Islands might be to a bank in these countries but the offshore bank’s money if in the U.S. Dollar is in a U.S Bank that is in the USA and that is where the funds are wired.

If you do not believe this, look at any wiring instructions where money is wired in the U.S. Dollar and the stopping point is to a U.S. Bank in the USA.

The money is just titled under the offshore bank’s name and not your name but with FATCA the IRS has your information because the offshore bank has to disclose this with a W9.

This is one of many reasons if you are a U.S. Citizen and you put your money in an offshore account do so outside the U.S. Dollar because by disclosing the funds on your tax form they can know where it is located but it is outside the U.S. Dollar and your asset protection is at hand when you do it this way.

The only way to stop this reporting by the foreign banks and you having to report the money to the IRS is by relinquishing your U.S. Citizenship and move outside the USA.

Once relinquishment occurs, you will then be issued W8 forms when setting up a bank or brokerage account offshore and nothing goes to the IRS anymore from that foreign bank but the bank will ask for your copy of relinquishment from the USA and if you do not furnish it, there will be a high automatic withholding tax held back from the bank and then sent to the IRS or the bank will simply just refuse you as a customer.

Don’t try and fool around on this matter because if you try to open a foreign bank account with the second passport and not tell the bank you are a U.S. Citizen, your second passport will disclose to the bank about your trickery because all passports print the country you were born in on the second passport and all foreign banks will acknowledge that if the second passport shows you were born in the USA then they will know you are a U.S. Citizen.

The FATCA requirements also require all these foreign banks to ask you on their bank applications if you are currently a U.S. Citizen or have you ever been a U.S. Citizen and if you lie, they charge you with fraud.

If you are a U.S. Citizen that is sick and tired of paying ridiculous taxes and want to legally avoid paying them, you can do so but you need to do it correctly or don’t do it at all.

Why take short cuts that can burn your ass later when you can do it legally and still get rid of your tax burden.

I personally relinquished my U.S. Citizenship many years ago before there was a charge in the U.S. Consulate or Embassy office to do so and I have never regretted it.

There were so many U.S. Citizens relinquishing with the numbers going up every year that the embassy and consulate offices started charging 450 U.S. dollars per person in 2010 and then later going up to 2350 USD per person just to handle the paperwork.

I have no doubt this fee will eventually go up to 10,000 USD per person or more not too long in the future.

The U.S. Government does not like losing all this income revenue once you are gone so they want to get as much out of you as they can before you depart with your money.

Your first step is to move your money overseas and then you move overseas to either a Pure Tax Haven country such as St. Kitts, Antigua, Cayman Islands, Anguilla, British Virgin Islands or the UAE which does not have an income tax whether your money is made inside or outside the country.

Another option is to move to a country that has a Territorial Tax System whereby residents only pay tax on income made inside the country and not outside the country and countries that have this tax system would be countries like Panama, Singapore, Malaysia, Thailand, Nicaragua, Guatemala, Ecuador ,Philippines, Belize, Honduras, Montenegro, Dominica, Costa Rica, Grenada, St. Lucia and Dominican Republic.

Believe it or not it is a lot easier to get your total taxes to zero if you live in a Territorial Tax Country than if you live in a Pure Tax Haven Country if your income is made outside the country.

The reason this is true is if your income is made outside the country you reside or outside where your company is located, you don’t need to be in a Pure Tax Haven because you will not have to pay any income or corporate taxes in a Territorial Taxed Country anyway and almost all Pure Tax Haven Countries have to make up the tax lost from not having an income and corporate tax on local earned income.

Most of the time the way that income is made up is on stamp duties, import duties or VAT or all three together charging as high as 50% or more on an item you buy in the store so your food, appliances, computers, cars and everything else is sky high. If you want to see for yourself, go to the Caymans or Bermuda and buy a box of cereal and there is your income tax but it is just called an Import Duty or VAT.

Once you move to one of the these countries and you are still a U.S. Citizen you would need to file the IRS Foreign Earned Overseas Exclusion form which gives you a deduction in the amount of 105,900 USD for 2019 [this exclusion usually goes up every year] plus other deductions but you have to be outside of the USA in other foreign countries at least 330 days in any 12 month period to meet the physical presence test to get this deduction.

This deduction of 105,900 USD only deals with earned income. It has nothing to do with any deduction of estate or inheritance tax you might incur, capital gains tax you might incur, interest income or dividend income you might incur.

If you want to get out of all these taxes and more, then you would need to relinquish your U.S. Citizenship and move all investments in the USA to outside the USA and its overseas territories.

IMPORTANT MATTERS THAT YOU NEED TO UNDERSTAND BEFORE YOU RELINQUISH YOUR U.S. CITIZENSHIP

  1. You have to file form 8854 to relinquish your U.S. Citizenship and the U.S Department of State Bureau of Consular Affairs has a form that you need to fill out which is a questionnaire which is titled INFORMATION FOR DETERMINING POSSIBLE LOSS OF U.S. CITIZENSHIP.
  2. If you leave the U.S. and get a second passport and don’t file the IRS 8854 form you are still a U.S. Citizen. Banks and brokerage companies offshore will drive you nuts if you are even lucky enough to find one that will even take you as a client if still a U.S. Citizen and then the income will be reported to the IRS for reasons I have mentioned earlier.
  3. I would advise you to move all of your assets outside the USA when you relinquish U.S. Citizenship but you do not have to. Some people don’t want to move everything outside the USA and that is fine. The U.S. Government does not require you to.
  4. It is not that expensive to get a second passport. We can do one for your whole family for as low as 35,000 USD for the whole family and that includes all government fees.
  5. The USA started allowing dual citizenship in 1967 and the U.S. law allows U.S. Citizens to have as many citizenships and passports as you want.
  6. Once you relinquish your U.S. Citizenship your taxes for the U.S. do not have to be done anymore except for the fraction of the year you were still a U.S. Citizen.
  7. There are big rumors when you relinquish your U.S. Citizenship you can never go back to the USA again and this is pure false. You would have to apply for a tourist visa just like everyone else and we can show you how to do this process.
  8. We can possibly get your income taxes close to zero legally and you would not even have to relinquish your U.S. Citizenship. Remember you can take baby steps first and then if you want to take the plunge and relinquish that is fine too.
  9. You may never want to relinquish your citizenship. I have two neighbors and both got second passports and one relinquished and the other did not. The one that did not relinquish thinks about doing it all the time because of FATCA and the FBAR forms.
  10. The higher the net worth that you are the bigger advantage it is to get out of your U.S. Citizenship.
  11. Moving overseas and keeping your U.S. Citizenship will shelter for the tax year 2019 105,900 USD from earned income and double this if your wife works too and also lives overseas [this generally goes up each year] if you both qualify for the Foreign Earned Income exclusion. You will also have living exclusions you can take on top of this.
  12. If your employer is a Foreign Offshore Corporation and you and your wife work for this company you can avoid the Social Security and Medicare Tax because foreign companies do not have to pay this tax to the U.S. IRS.
  13. If you do relinquish your U.S. Citizenship, you will know for sure when it is done because you will get a form that says CERTIFICATE OF LOSS OF NATIONALITY OF THE UNITED STATES and your name will show in the Federal Registry showing the year you relinquished your citizenship.
  14. A great passport can be gotten for a little over 100,000 USD so you can travel to almost every country in the world that you more than likely would like to travel to.
  15. Once you have officially relinquished your U.S. Citizenship and do not trigger the Substantial Presence test or get a Green Card you are officially out of the U.S. tax system.
  16. You can still keep assets in the USA like property, equities and money deposited in banks except now you will not have to pay any tax on interest on bank account CD’s or any capital gains tax on equities with brokerage companies because these organizations will have a W8 filed on your accounts and then nothing is sent to the IRS because you are no longer a U.S. Citizen or resident.
  17. Once you relinquish your U.S. Citizenship, you don’t hold a Green Card, and you do not violate the Substantial Presence Test you are still subject to any automatic withholding taxes on U.S. dividends paid out to you whether they be from a business or from equities that you have bought. That tax is usually a flat amount but does vary depending on who is President at that given time.
  18. When you relinquish your U.S. Citizenship, U.S. dividends can be avoided by not having a U.S. Company and not buying U.S. Equities. Instead look for stocks that do not issue a dividend and all profits are from capital gains like the stocks Google, Facebook and Berkshire Hathaway that Warren Buffet is head of. These three stocks do not issue dividends so all profits are tax free. I am not recommending these stocks. I am just using them as an example.
  19. Unlike the USA there are 21 countries in the world right now that do not tax dividends to foreigners and some of these markets have outperformed the Dow and the SP500 indexes. We can give you more details on this when you become a client with our company.
  20. I am not aware of any country in the world that taxes foreigners on a capital gains tax on equities bought in their country including the USA.
  21. What you will find out is foreigners are treated a lot better on tax issues than citizens in the USA and this is true in most countries. Foreigners that purchase CD’s and equities in the USA do not have to pay tax on the interest income or capital gains whereas citizens and residents do.
  22. If you are at the point where you are thinking about cheating on your tax return and you cannot control that drive, you would be better to relinquish your U.S. Citizenship and get out of it. It’s just not worth it.
  23. If you are going to relinquish your U.S. Citizenship you need to have a plan in place whether it be to still work or retire.
  24. If you relinquish, it will not affect any Social Security you have already qualified for but you cannot still work and get Social Security unless you are at least 66 years old and this could change by the time you read this.
  25. Once you renounce you will no longer qualify for Medicare but Medicare only works if you are in the USA anyway.
  26. What you will find out is medical costs in the USA is the highest of any country in the world and even when you have Medicare, your out of pocket that Medicare did not provide would be more than if you paid the total bill yourself living in the Philippines and the Philippines has great health care. A dental exam and cleaning in the Philippines are about 10 USD.
  27. Other places that have great health care at extremely low prices are Malaysia, Thailand, Columbia, Brazil and Panama.
  28. If you are single, the above countries have some of the prettiest women in the world and they love dating guys in their 60’s up until 90’s. You heard that right!
  29. You will need a coach to help you walk through this maze and we can help you do it. Trying to do this yourself is going to cost you a lot in time and money and you will make a lot of costly mistakes.
  30. I have gone through this myself and I have worked with a lot of people and have experienced what they went through. This experience I have can make the transition a lot better for you and your family.
  31. People screw up so much when getting a second passport. You definitely need someone to be with you on this journey or you can lose a lot of money. I will show you the pitfalls to avoid when doing this.
  32. You can get the relinquishment process done in 2-3 visits. If you try and get advice from these Caribbean Companies that sell passports they won’t know since they have never done it themselves and this is why you are going to need some outside help from someone who has done this himself.
  33. Usually a Consulate General will meet with you based on a preset appointment date. Your passport is taken from you but given back later with the top of the passport clipped so you cannot use it again. This is why you need the second passport because you will not be able to get home otherwise.
  34. I have seen people spend a fortune on a passport and lose it all and never get the passport.
  35. So many people take years to get their second passport in Europe spending tons of money in taxes while waiting for the passport when in a lot of cases they could have taken just a portion of the money they would have lost in taxes and gotten their second passport in a few months and could have saved a lot of money in the end.
  36. I see people take years to get a second passport when we can get a passport approval in as quick as two months.
  37. The actual freedom of giving up your U.S. Citizenship is overwhelming because I have done it and I know the feeling. If you talk to a lot of people in the USA, they think you are being unpatriotic by doing it but remember your life is not their life. You are a sovereign being and you have the right to go to where you are the happiest.
  38. Even the people in the U.S. Consulate office asked me if I was sound of mind two times as if I was crazy before I read the oath to renounce but I knew I was ready and the only regret was I didn’t do it sooner.
  39. It is very difficult to find someone who has the experience in helping you do this because there were only 3981 renunciations in 2018 which was a 22% decline from the year before and most of these people do not have the experience I have because they have never done it themselves. I went through the whole process myself and I know the process and the emotions you will go through if you do it.
  40. If I could show you how to get your taxes to zero or close to zero saving you tens of 1000s of USD without renouncing your U.S. Citizenship, would it be worth doing business with our company?
  41. If you are making at least 150,000 USD a year or millions a year and you are already living outside the USA currently, it might make sense to relinquish your U.S. Citizenship or at least engage in the Foreign Earned Overseas exclusion.
  42. When I was living in the USA my taxes got so high, I lost the incentive to work anymore. If you feel like you are at this point, I would advise at least moving outside the USA so as to qualify for the Foreign Earned Exclusion.
  43. You earned your money and what percentage you choose to keep is up to you. It is just a matter of our company working with you to show you how to put all the pieces of the puzzle into place and this can be done totally legal but you are going to have to make some changes and some adjustments initially.
  44. You can keep paying ridiculous tax bills every year or channel the money you would be paying into taxes into a property that will qualify you for a second passport and citizenship that can help to solve your tax problem not only for you but also for your children because now since you know how to do this you can teach it to your children.
  45. I use to think writing letters to my congressman and campaigning for the most conservative guy running for office would change things but then when the conservative guy got into office still nothing was done. If you want instant results CHANGE YOU AND DON’T WAIT FOR THE SYSTEM TO CHANGE.THIS IS THE FASTEST WAY TO GET THINGS DONE.
  46. I was a receipt fanatic when I lived in the USA and had my own business. I was constantly reminding myself and my wife to keep receipts on money that was spent on anything that could legally be used as a business expense because if it was not a deduction, I would lose about 50% in a tax. Even doing this I still lost a ton in taxes. If you are getting like this you might want to make a change and relinquish.
  47. I never keep receipts anymore and Tax Day April 15th passes every year just like any other day. I have not filed an income tax return in years and this has saved me a ton of time that now I can use for my business. Would not having to file endless paperwork for you and your corporation be enough to take the plunge and relinquish?
  48. The peace of mind is incredible and I am a lot more relaxed person now than when I was living in the USA. Just the peace of mind alone was enough for me to relinquish. Is it worth it to you for this reason?
  49. If you are already engaging in the Foreign Earned Income exclusion and you see these deductions are being cut back by Congress, it would probably make sense to relinquish. It has been brought up by the liberals in the USA to totally eliminate the Foreign Earned Income exclusion. Congress will always control your tax bill until you relinquish.
  50. There are several countries in the world you cannot visit or do business with because you are a U.S. Citizen. That lack of freedom will be totally resolved when you relinquish.
  51. Relinquishing your U.S. Citizenship is a permanent decision and this is one of the reasons the Consulate Officer asked me two times if I was sound of mind because once you relinquish and later feel like you made a mistake and want the U.S. Citizenship back ,you have to go to all the trouble any foreigner would have that is applying also.
  52. There is a lot of planning to do when you relinquish such as where your bank account will be located, what country you and your family want to live in, are you going to be leaving some assets in the USA and what is the best country to get a second passport in.
  53. Are you planning on getting a U.S. Visa if you still plan on going back to the USA? Are you going to retire or set up a new company abroad or use the same company name you already have and just domicile it in another country?
  54. If you have property in the USA and you want to stop all taxes on capital gains, taxes on rental income and almost eliminate all property taxes in the future, St. Kitts in the Caribbean is a great place to invest and we can help you on that. Advantages in buying real estate in St. Kitts are:
  55. No capital gains tax
  56. No personal income tax on rental income.
  57. Property tax is only .20 of 1% after a deduction of 29,630 per property and property taxes have not increased at all in the 13 years I have been here although land prices have done very well. That means if you paid 100,000 USD for a property, you would pay an annual property tax of: 100,000 – 29,630 = 70,370 x .20% = 140.74 per year total property tax on that property. You can also own the properties with a Belize or Nevis LLC [except any property bought for citizenship which has to be in your name for at least five years] to give you the best asset protection in the world. The property tax in St. Kitts is about 11 times lower than the property tax in New Jersey as an example.
  58. What taxes will you be liable for after you leave the USA if you decide to keep some of your assets there whether it be real estate or equities.
  59. What is the best way to receive your Social Security payments once you have relinquished and moved abroad? We can help you on this once you become a client.
  60. If you are going to be getting a second passport and are thinking about relinquishing your U.S. Citizenship, St. Kitts has one of the best deals out there offering more visa free travel than any of the other Caribbean Countries and it is a great place to have a business with no personal income tax. We can help you on all of these things since we have a Citizenship by Investment Company.
  61. Do you want to have your business in a different country from where you live? That can be done and we can advise you on this.
  62. What are you going to do about your pensions and retirement accounts? Trying to do this yourself can cost you a lot of money making a lot of mistakes. I have been through this myself and I can tell you the best way in getting all of these things accomplished.
  63. I can save you 60-100% in taxes if you never relinquish your U.S. Citizenship especially if you are married and I can show you how to accomplish that.