The Key Do’s and Don’ts
When you start thinking about renunciation you’re naturally going to turn to what your life will look like afterwards. Whilst the option remains to intentionally make yourself stateless (we strongly advise against this at all costs) the typical approach will be to seek citizenship from another country. To give you a broad outline of what this process might look like for you, we’re going to cover the main right and wrong ways to go about this, and the motivations which lie behind them.
Renunciation For Tax Reasons: Don’t Do it
When you renounce US citizenship you should be doing it primarily to build the life you want for you and your family, not to reduce your tax obligations. We would never advise or suggest making yourself stateless or adopting a new citizenship purely to save money on tax. A quick search online will appear to throw up dozens of ‘clever’ loopholes and schemes that you can make use of, but they will all cause issues and legal implications later on. The only citizenship worth obtaining is one which is 100% legal and which will remain legal when subjected to proper scrutiny.
Legitimate Paths to New Citizenship
There are typically four possible paths to new citizenship for any citizen of the US: