What’s Behind US Businessmen Renouncing Their Citizenship en Masse
SputnikNews.com
04.03.2017
The number of Americans renouncing their citizenship rose to a new record of over 5,000 people last year. According to the latest government data, the 2016 trend showed a 26% year-on-year increase.
Radio Sputnik talked to veteran traveler, entrepreneur and blogger, Andrew Henderson, asking him to comment on the issue.
Henderson is a founder of Nomad Capitalist, a Texas-based organization that helps its clients diversify their assets and save taxes. The organization, whose motto is “find a legal way to pay zero and be in compliance,” has created its own passport and citizenship index to access the value of living in a certain country.
“We decided to put out the first ever index that actually studies the value of passport and of citizenship. We looked at more than just travel. If you are a US citizen, and you can go to as many countries as a Slovenian citizen, but the Slovenian citizen has a greater tax freedom, personal freedom and many other things, then one is better than the other. And so we said let’s take into account a number of factors like dual citizenship, freedoms, taxes and etc.”
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