Reasons to Keep US Citizenship

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Check Out Our Article About The Pros and Cons of Renouncing US Citizenship
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There are a lot of myths about why people choose to renounce their US citizenship and the consequences of such a decision.
This is not a choice to make lightly.
The biggest downside to renouncing for most people is that they no longer have access to the US job market.
While some countries are opening up their immigration procedures, many developed countries are tightening them. If you aren’t a US citizen it will be very difficult, if not impossible, to get a job in the US.
In this video, Andrew shares some reasons to keep US Citizenship.
00:00 Start
0:40 Renunciation of U.S. Nationality
1:30 Working in the US
4:34 Visa Issues
8:37 Missing Home
10:49 Fear of Making Mistakes
The Nomad Capitalist is the world's most sought-after expert on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best."
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Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

Опубликовано:

30 июл 2024

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Комментарии : 178

@robertgillies9382 Год назад

I haven't set foot in the USA for over ten years but I haven't renounced my US citizenship. And I do have a second citizenship in Panama where I live.

@saadiaarslanturk2850 Год назад

I moved 2 years ago and it was the best career decision I made. I don't mind having apartments in different countries.

@fatnamaach7632 Год назад

Where did you move to ?

@Useryuic 8 месяцев назад

That’s if you keep this and view US fondly

@wahlman2007 Год назад

Keep up the outstanding work. You make good points. Much appreciated.

@borchelsijles8064 Месяц назад

Good points? Or spinning in a circle? Anyhow, that is good business for him.

@FUNKYFRESH707 Год назад

Thanks, it'll nice to see a guide of the most innovative places for the youth to learn, new ways of schooling..

@Lepewhi Год назад

What if you have lived in Europe for almost 20 yrs and have citizenship here. Have no intention of moving back to the US. I'm getting ready to retirement and am tired of filing taxes 2X. What is my reason for keeping US citizenship?

@Soldknight324 Год назад

Well if you have no need for it and haven't used it in 20 years, I think you answered your own question?

@stellafamos2463 Год назад

Well, I think now you get your retirement from the US as well, no?

@Lepewhi Год назад

@@stellafamos2463 I'm trying to get it started. But, I have to wait until I turn 661/2 to begin.

@dm5853 Год назад

Stupid you. Combine EU permanent residency with Antigua and you should be fine.

@cacapichi8564 Месяц назад

Maybe pass it on to a child that would want in the future to live/work in the US. If not that, I don’t see the point tbh

@crypticnomad Год назад

I'm a US veteran who receives disability compensation from the VA. It has "permanent and total" status and has no income or any other kind of reporting requirements. Although I don't have a reason to renounce my US citizenship right now I can easily think of a few reasons I could potentially want to do that in the future and I'm interested in finding out if I would have to give up those benefits with the citizenship. I did a few searches and most veteran specific forums moralize that question and often straight up attack people for even asking. The few times I've seen the question actually get a decent answer the answers given were conflicting and reasonable. For example, one person said a veteran would give up their benefits because the law clearly states that when renouncing citizenship we renounce all rights and privileges but then another answer said that nationality doesn't matter for the VA. There are plenty of people who have served the US military in various ways that were never US citizens and if such a person had been injured while in the line of duty then they are eligible for veterans benefits. The law for defining who is a "veteran" never mentions nationality.

@nomadcapitalist Год назад

Thanks for sharing!

@crypticnomad Год назад

@@nomadcapitalist it was a question 🤣

@calvinmcdowell8328 8 месяцев назад

⁠⁠⁠@@crypticnomadI hear you brother veteran I am about to retire from my second government job and realize that I can’t renounce my us citizenship because I would loose all military benefits and Medicare it’s a shame that the country is so expensive where one have to live overseas in to make ends meet

@mshmsh9313 3 месяца назад

I am not from America and I do not know American law, but I studied the law and I believe that if you renounce your citizenship, your support may not continue and you may lose all your privileges. As for non-American fighters, I think you mean informants, collaborators and traitors from countries occupied by America. Of course they receive support because they were not Americans from the beginning.

@superjfbm Год назад

... this is out of topic, but the painting behind you looks wonderful with you in the foreground...

@marxxcomics Год назад

The only way I would consider renouncing my U.S citizenship is if I had a passport that offered visa-free travel to the U.S. I just watched a lav mic video that was really good, and you're wearing yours EXACTLY correct. Chest-height, right in the middle. Perfect. Which mic are you using? I'm planning on moving to Malaysia in June, taking advantage of their 12-month digital nomad visa. I'm nervous, but also excited - and it's in large part due to your channel. Thank you, Andrew!

@Ia-jh3re Год назад

Just move to a country in the EU and after 5 years apply for citizenship there. You then have visa free travel to the US.

@sirzechs3960 Год назад

Malaysia is a good country to live in. We welcome you 🎉

@boyar1978 Год назад

I think the only reason i would keep my US citizenship is because i teach English overseas and many employers require a Passport from a Native English speaking country, I anticipate if i told them I had renounced my US citizenship that I would have difficulties getting work visas. I understand that I would be given a certificate of loss of citizenship from the US government which most likely could be used in such a case. The other reason would be is it can be selling point when dating. I am aware that many women in the countries i live in would marry me simply to have the opportunity to live in a Western country so if I am not a US citizen that is off the board. Thirdly if i were to have children they could study in the USA and have access to Federal financial aid which means I do not have to pay for their college. Fourthly would be the renunciation fee as it is astronomically high. There would be reasons however that I would definitely renounce citizenship. If i am earning my income from passive sources not from the USA than I would renounce so I can pay less in taxes and if the citizenship renunciation certificate is enough to get employment teaching then being a US citizenship is not worth it. I am not leaving the USA for taxation reasons. I am leaving for Political reasons as I do not support what the USA does internationally and I want to distance myself from the USA. I am hoping within the next 5 years to gain citizenship to a foreign country that is between the tropic of Capricorn and tropic of Cancer and be able to fully decouple myself from the US economy which i plan to achieve within 10 years,

@harisadu8998 Год назад

You're probably not white or you wouldn't ever be worried about this. The US passport is only important for English teaching when you're not white.

@Backtothecryptoverse 27 дней назад

Great info

@ambassadoroffaith1018 2 месяца назад

I want to renounced my citizenship too

@moviedoodz9017 3 месяца назад

I could just walk across the boarder in Mexico and be in the states .. it's not like its hard to get in anymore

@tmeadowsdegil2014 Год назад

What color blue is that that you have painted on your walls?? Beautiful!! I love the painting too!!!

@carollee3044 Год назад

off topic

@JQ_Cali Год назад

He can afford that by charging clients twenty five thousand for just a written plan.

@JTland-sea-air Год назад

Azure 💙

@tmeadowsdegil2014 Год назад

@@carollee3044 No it is not off topic because he says he has homes all over and films in them and even comments that he enjoys decorating the different homes!! Why flaunt it if you are not going to talk about it???

@jaws2003 Год назад

I know my son and family inherented items are the reason I keep my citizenship. I would like to have my tax burden reduced. I need to finish you book Andrew. Almost there with that.

@TheMccluref Год назад

I want to retire overseas but I will keep being an American. I like the ease of travel it conveys

@antonio.7557 Год назад

there are certain "critical infrastrure" industries where you can't own or run a business unless you are a US citizen. Commercial aircraft operations for example (including drones)

@bobbyallen4555 Месяц назад

not true

@me2ontube Год назад

you've never addressed the gun issue - what if I have 322 guns n some of which are family heirlooms worth a lot of money (not to mention the sentimental value that you can't put a price on) - seems America (specific states only) is the only place in the world that respects that position - can you please address that

@JQ_Cali Год назад

True, he will not address it because it will hurt his business.

@rivenoak Год назад

if you fetish your weapons that much please stay away from rest of the world. nobody wants such irrational behaviour

@JQ_Cali Год назад

Just stay away from rabid Euro socialists.

@DS-vx3wf Год назад

gun problem and reporting any bank account abroad with more than $10k every year, whether you live in the US or not.

@me2ontube Год назад

@Pat Risberg 1 man's trash is another man's treasure - if you have something ... gun, ring, or whatever that's been in the family for 100 years no amount of money is worth losing it - a Glock is a different story

@jasongold708 Год назад

A scenario. Let's say you're a star athlete of an individual sport(tennis or golf). You've become "disillusioned" with western civilization. Obviously being a member of said organization(PGA or ATP) most tournaments are contested in the U.S. Going through Malta's exceptional program would grant them access to the U.S. for tournaments via passport. That would be the primary reason for them to enter the U.S. Would it be recommended to keep the citizenship or give it up?

@ramb5193 Год назад

How about getting citizenship in Grenada, which allows E2 work visa to US

@rivenoak Год назад

and then what ? stay for longer and your are taxed in US again ....

@RC94332 Год назад

What’s the point? Renouncing US citizenship only to get a caribbean citizenship that offers a work visa to the US in which you would pay US TAXES??? 🙄

@BrendanMetcalfe Год назад

The earning power makes it worth it

@matthewlopez4049 Год назад

Can a person collect the Social Security benefits they've built up after renouncing citizenship?

@davidglad Год назад

My understanding is yes. As Andrew said in some long ago video and a quick google search (SS website top result) appears to confirm. This is assuming money-grubbing politicians don't subsequently change the laws against people who can't possibly vote for them.

@zakatista5246 4 месяца назад

yes.

@RC94332 Год назад

Another decision would be if you live in proximity to the US and you travel to Europe and Asia or something a lot. You would need a visa to transit the US depending where you are from. I hate flying through the US but to most people who are too cheap and click the cheapest ticket, generally those involve transit via the US…

@JK_JK_JK Год назад

The simplest reason is I just don't want to pay the fee to renounce...

@vitae4929 Год назад

it's only a one time fee

@JK_JK_JK Год назад

@@vitae4929 It's not worth it.

@rivenoak Год назад

@@JK_JK_JK unless your exit tax is horrible it is worth the effort. if exit tax is that high you are the one who whould have renounced much much earlier.

@JK_JK_JK Год назад

@@rivenoak That makes no sense.

@rivenoak Год назад

@@JK_JK_JK hmm, which part seems odd to you ? exit tax is always calculated at your current wealth, so it is not a bad decision to look after the problem immediately. dont accumulate 7-8 figures over some years and then cry about final obligations; you should and could have left earlier for sure. if it was a lottery jackpot or other sudden windfall what lead to such wealth then it is obvious you cannot move earlier and exit tax is what it is and unavoidable in amount.

@dm5853 Год назад

Losing your CBI passport is a risk with CBIs. Antigua is the only one that has clear rules in their constitution not to deprieve you of your citizenship in case you are accused of a criminal offence. That this can happen even to the best and most compliant guys as you can see more and more of this happening in western countries. Say something in public against covid measures or something that can be considered as supporting Russia vs Ukraine. Boom here you go. Grenada may be another exception but for sure the other CBIs pose this risk as they handle these matters discretionarily. Also Antigua won't extend your passport unless you are accused for something less then 5 years sentence. But at leaat there you have clear constitutional rights so you can appeal such decisions.

@MisterHolaMan Месяц назад

I hate the feds and IRS but I don't have family or friends overseas my life is here

@justiceo1791 Год назад

If you give it up and change your mind in the future, can you get it back?

@carollee3044 Год назад

NEVER!

@JQ_Cali Год назад

@@carollee3044 True dat

@LoveClassicMusic0205 Год назад

You can, but not easily. You would be treated like any other potential immigrant from the country of your current citizenship. It would take many years.

@myronbourne6937 Год назад

Yes

@anonimuso Год назад

I would never give up my U.S. citizenship and here's a couple of reasons why: 1) As a child of immigrant parents from a developing country, I can honestly say that my parents coming to America was the best thing they could have done for me. And I want to give my children that same opportunity should they choose to take advantage of it. Even if I am living somewhere else, they automatically get citizenship by birth. No way I'm giving that up. 2) As many problems as the U.S. has, it is still leaps and bounds ahead of other countries in terms of personal freedom. First Amendment rights. No government speech codes and freedom of expression. Second Amendment rights. Religious freedom. Legal freedoms such as the presumption of innocence. By giving up U.S. citizenship, I risk giving up all those rights and more.

@hm-vg5bw Год назад

Its better when the kids are born in the US, if your born abroad then there are requirements that you have to meet to further give the citizenship to the kids, and documents have to be provided to prove that you meet the requirements to pass the citizenship over. Just having the citizenship isn't enough to pass to the kids (unless your born in the US) then it will be automatic.

@anonimuso Год назад

@@hm-vg5bw Yes, I understand. But it's a minor inconvenience compared to the benefits. Especially if you plan ahead and know what's required.

@me2ontube Год назад

I especially like the 1 of guilty until proven innocent - but yes, you're right - I'd much rather be a US citizen than most other places in the world but it's getting worse n worse everyday

@npcknuckles5887 Год назад

US global taxation is a major drawback :|

@atmosphereoasis9564 Год назад

So basically you’re an Anchor Baby? And you want to continue the Anchor Baby route for your children, grandchildren and descendants. Gotcha, makes sense🤔

@LoveClassicMusic0205 Год назад

Hey Andrew, have you been back to the US since you renounced?

@marxxcomics Год назад

@@tamralove And you know this how, exactly?

@jasongold708 Год назад

He has not returned since renouncing. The closest he's been is Mexico.

@FatherFH Год назад

The living things with the best biological success are the ones that can adapt to most environments.

@me2ontube Год назад

but doctors only do sex changes not species changes 😁

@FatherFH Год назад

@Pat Risberg the less picky you are the better you survive.

@JQ_Cali Год назад

@Pat Risberg Critical thinking skills are needed to be HNWI. Need to be smarter than a plant.

@FatherFH Год назад

@Pat Risberg yes surviving is positive even if you have to do negative things to do it. Just like Andrew says, go where you are treated best.

@Salvatoreluciano. Год назад

Why not paying the taxes that the US what’s you to pay abroad??

@npcknuckles5887 Год назад

What about New Hampshire. It's the #1 freest state in the union.

@perrykomick9478 Год назад

😂 rightttt

@jayvincent8860 Год назад

Wyoming is more free.

@LoveClassicMusic0205 Год назад

I would rather go to Florida. In fact, I'm looking into it right now. I'm tired of the cold.

@npcknuckles5887 Год назад

@@jayvincent8860 Not according to "Freedom In The 50 States" it isn't. Wyoming ranks 26th freest state in the union.

@npcknuckles5887 Год назад

@@LoveClassicMusic0205 Florida is 2nd freest state, so a legit choice. I'm weird and like the cold though. Can't stand hot temps.

@mryardiedescendant 5 месяцев назад

The biggest “con” (depending on the person) is losing the right to enter and live in the United States. Depending on the country you’re coming from, you will need to obtain appropriate visas or travel authorizations to enter the country for tourism, business, visiting family, etc. which means additional paperwork, time, and visa application fees. Although one has to contend with IRS reporting obligations, I’m not in the tax bracket that I’d necessarily have to worry about owing anything to the U.S (i.e. foreign earned income exclusion). Dual citizenship (which I’ve pursued already) is a better option for me because I can’t afford to completely sever ties with the U.S. Life can be unpredictable, so the decision to renounce or not is highly dependent on one’s circumstances. What may work for me won’t work for the next guy.

@antoniobrasse7157 Год назад

It wasn't mentioned but I'll say it, if you're a person of color, don't give up your US citizenship. I can speak from first hand experience how being American has made my travels globally easier and kept me out of trouble.

@Felipe-fn7fp Год назад

Only in the west. If you stay out of the west or have a decent 2nd citizenship, doesn’t apply

@JK_JK_JK Год назад

All persons have color.

@antoniobrasse7157 Год назад

@@JK_JK_JK you know what I mean. People not considered "white." In particular countries, both developed and developing, if you are not white and not a US citizen, you could be extraordinarily exposed to discrimination or racism, granted for blacks specifically, any western country is safer from a life or physical perspective than the US is regardless of nationality. For example, in other first world western countries, you don't hear about the death of black men at the hands of police or insane hood activity and gang activity. These things are very US centric.

@Rainy_Day12234 Год назад

@@antoniobrasse7157 Blacks aren’t treated well in many parts of Europe, South America or Asia.

@micosstar Год назад

⁠@@JK_JK_JKawesome; but in a lot of political lenses of countries, how dark that color that skin is matters

@krastycz1810 Год назад

I have been living in the Czech Republic for almost 12 years and became a citizen and although I'm 99% sure I won't go back to the US to live and I don't like doing 2 tax returns EVERY YEAR, I simply cannot imagine renouncing US citizenship. There's one youtuber who renounced his US citizenship and he has a St Lucia's passport. I don't get it.

@rivenoak Год назад

Andrew is the one with St. Lucia, but he has more citizenships than that afaik what are your reasons to retain then ?

@krastycz1810 Год назад

@@rivenoak combination of patriotism and practicality/safety. If Russia were to go unhinged and decide to attack the rest of Europe for example, I can go back to the US as I'm a citizen.

@rivenoak Год назад

@@krastycz1810 you mentioned you are citizen of CZ ? nope you cannot leave then; this citizenship takes precedence and you are to be ordered to stay and fight...or face martial court. sorry, but US citizenship is not a monopoly "get out of jail free" token

@Ingrid_Abrams 4 часа назад

@@rivenoak LOL, I know many US Citizens here in the Czech Republic who gave up their US Citizenship.

@scienceandartclub 2 месяца назад

I don't have a US citzenship because if I apply I might lose my Singaporian one.

@user-ll2ex3uy8f Месяц назад

Good decision. Singapore's citizenship is superior, one of the world's best.

@scienceandartclub Месяц назад

@@user-ll2ex3uy8f It is hard to get. My mom is stuck with Canadian citizenship because she was born there. She has been living there for 8 years now. My dad is from Singapore. I am born in Singapore. I don't want US citizenship because of visas.

@ThaoNguyen-jv4up 6 месяцев назад

when I was younger I was in my ( travel the world blah blah blah phase ) I always paid taxes to USA, age 30 I returned home ( because I started having uncontrollable seizures) now I get ssdi… so I’m not homeless and destitute. ( most countries just let you die in the street or you have to sell lottery tickets)

@gurjindersingh199 24 дня назад

Usa is great just follow the rules just like any country.

@ARTTOnline Год назад

Why does your face color look so different? did you go heavy on the makeup today or is it a filter? you look super white in this video

@halfrussian 9 месяцев назад

Interesting observation. 😊

@bobhmail7161 3 месяца назад

tool shed

@roslynballard7090 6 месяцев назад

Yes keep your citizenship,Anerica is not perfect,but its still home

@EarlLayne 3 месяца назад

Hell no down with the USA

@bobbyallen4555 Месяц назад

your home is europe

@heffdvidgd2598 Год назад

Who else fell Andrew looks like Mao Zedong in the thumbnail?

@sainta2667 Год назад

I think it's kinda hypocrite to make this video when the arguments in the previous video were so compelling

@danamurray735 Год назад

THANK YOU, Andrew...BUT, No Thanks. Hhmmm 🤔 why? Because if a person has the chance and the opportunity to renounce their U.S. citizenship in favor of an extremely more positive, more tax friendly (St. Kitts & Nevis), and more visa free (Malta) citizenship then by all means...flush that U.S. citizenship down the toilet.

@jasonlynch9407 Год назад

Is there a state pension in the USA?

@jacksats6991 Год назад

What ? 😂

@rahuliyer7456 Год назад

My heritage is Asian Indian. I do not want the Indian citizenship or passport...not when I hold a US citizenship and passport already. India does not legally allow dual citizenship. So, I have no interes, unless I get a comparable one from Canada or Europe....not likely.

@maharajamac Месяц назад

You will soon change

@carollee3044 Год назад

I can see Andrew misses being US citizen.

@hm-vg5bw Год назад

Yes, he definitely misses the hundreds of paper work he has to fill out for the IRS every year for his hundred different bank accounts globally he opened for personally testing to help us out.

@Dis_is_fine Год назад

@@hm-vg5bw this, taxes are already a pain in the ass for my small business of one person, one country. I can’t imagine the pain the IRS must have been for him while living globally.

@me2ontube Год назад

@@hm-vg5bw didn't you see the preview of his video he's posting later today where he's crying like a baby n saying the whole thing was a big mistake

@npcknuckles5887 Год назад

He can miss the country, not the government.

@hm-vg5bw Год назад

@@me2ontube No I didn't. I can't find that video. Where is it?