Hedge Funds: Get Set to Register

Quote from reiser999:


Even if a US citizen renounces citizenship they still must pay taxes for an additional ten years, it actually throws them into the spotlight makes them more suspicious.

Not anymore. You're referring to an old rule. The HEART legislation, passed last July, changed that rule. Now, you no longer owe taxes after renunciation. Instead, a capital gains tax is levied against your worldwide assets as a condition of the United States releasing you from citizenship. So, they rob you once and you're done.
 
just to add...you will be taxed if you spend more than 60 (or is it 30 days?) in the country just like a citizen even after you've renounced and paid your cap gains tax. So, once you leave, you really have to leave.
 
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