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He renounced his U.S. citizenship in 1968 to become a Citizen of the United Kingdom and Colonies, also later acquiring Bahamian citizenship after the territory became an independent country. Templeton's renunciation had significant tax benefits, though he stated his emigration was motivated by the desire to get away from the pressures of Wall ...
Still, renouncing citizenship is very rare; the ultrawealthy are more likely to acquire second citizenships or residencies in places like Portugal or Malta than give up their American passports ...
Under Department of Energy guidelines, an action that shows allegiance to a country other than the United States, such as a declaration of intent to renounce U.S. citizenship or actual renunciation of citizenship, demonstrates foreign preference and thus is a ground to deny a security clearance. [186]
The State Department stated that 1,100 people renounced citizenship at only one particular US consulate post during the first ten months of 2014. [31] There are more than 270 US consular posts. [32] In September 2015, the State Department estimated that there would be 5,986 renunciants and 559 relinquishers during Fiscal Year 2015. [33]
Americans who live overseas have been renouncing their US citizenship in record numbers over the past several years. In 2014, nearly 3,500 people bid a permanent adieu to the states, and the year ...
The Wall Street Journal reports that 2013 has already set a new record for "expatriations," defined as citizens renouncing More Americans Than Ever Are Renouncing Their Citizenship Skip to main ...
Since the enactment of FATCA in 2010, the numbers of people renouncing US citizenship have broken new records each year, increasing from a few hundred per year before FATCA to 6,707 in 2020. [68] In the first two quarters of 2017 alone, 3,072 people renounced, which exceeds the full year total for 2013.
Eduardo Saverin. Brazilian-born Eduardo Saverin became an American citizen when he was 16. Saverin co-founded Facebook and in 2012, he made headlines when he renounced his U.S. citizenship just ...