Comments by "rivenoak" (@rivenoak) on "Why a record number of wealthy Americans are renouncing U.S. citizenship" video.

  1. he renounced years ago and became citizen of St. Lucia (in the caribbean) by a "citizenship by investment" program. other islands there sell citizenship too and really nobody outside of USA gives a hummingbird about which passport you use. you may not enter visa free (by ESTA and likewise programs) to NZ CAN AUS and US, but getting a visa is not the problem.
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  2.  @rd9102  the european citizenship is useful as a door opener elsewhere. for a simple and real example here on YT: a german who became US citizen works now in switzerland. high income straight from scratch, swiss wages are usually that awesome. buuuuut FACTA and US bureaucracy will bite him now as the low taxes in CH earns him a "pay us too and yesterday !!!" notice from IRS: he is obliged to pay the difference between CH and US tax tier, unfortunately :( for another actual example: Heidi Chakos from learningcrypto com renounced US citizenship and is citizen of St. Kitts and Nevis by now. she doesnt live there (and neither is obliged to reside) but took residence in portugal with goal to gain their citizenship. afaik portugal doesnt tax crypto (and afaik doesnt tax foreign income of their residents anyway), so she is happy as a clam. travelling on St. Kitts passport + residence and in queue for citizenship with Portugal = yay for her.
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  3. what value is in citizenship ? you know the world doesnt consist of USA alone or for a better picture "other families bear pretty daughters too" :) you cannot renounce without a second citizenship secured, so they will take their (then first) citizenship and apply elsewhere for another citizenship. someting european perhaps with residence permit secured first; takes some years but then you will hold a Tier A passport again. in the meantime travelling as somebody from for example St. Kitts and Nevis is pretty nice; nobody has a quarrel with St. Kitts, nobody bothers them.
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