Why I'll NEVER Renounce My US Citizenship 🇺🇸 

Renounced 8 years ago and no regrets. I have more freedom today than ever before. That said, it's not for everyone but why live where your're not wanted or respected?

"I don't know what's going to happen in the future but, it's very possible that I might need to take care of a sick relative or an aging parent someday. I only have this one life, and so I want to be able to spend it with my family members in the US, whenever I want, for as long as I want ... It's just impossible for me to put a price tag on the value of the time spent with my family, and time is a non-renewable resource; it's something that you can never get back." Indeed. ...It fully sinks in once you have lost relatives and friends, along the way. Good on you. Very wise.

A few thoughts crossed my mind while watching this……… First, the US will not allow you to renounce your US citizenship if you don’t already have another nationality, they won’t allow someone to become stateless by renouncing. To the best of my knowledge you do not lose your Social Security number or Social Security retirement benefits when renouncing, they recognize that whatever money you paid into Social Security over the time period you were liable for Social Security withholding gives you the right to those future benefits, regardless of your nationality status. If you’re living in a country which has a retirement benefits treaty with the US, the retirement agency in that country will contact the US Embassy Social Security office there, and they will coordinate payment of whatever Social Security retirement benefits you are eligible for. One really important point which I don’t think was covered clearly in your video is the subject of double taxation. An American citizen working in a foreign country under a work contract based in that country is liable for full taxation there just as if they were a local citizen. But the US does not consider taxes paid to a foreign country for any kind of relief from US taxation ; meaning that if your foreign income exceeds the foreign earned income exclusion amount of just over 100k$, both the foreign country and the US will tax you on the amounts exceeding the exclusion limit. Remember also that for the IRS you have to calculate your taxes in US dollar amounts, based on the average exchange rate over the tax period. If the exchange rate is not favorable, your foreign income amounts will be inflated by the exchange rate to a higher dollar amount, and you will end up paying US taxes on virtual amounts that you never had in your pocket or bank account. That alone can be quite painful. Another key factor is the IRS calculates taxes on your gross income, not your net income. So say you work in a country like France where you have a gross income number, but from that they take right way in French withholdings the “social contributions” and medical coverage, and now they also do French income tax withholding. What is left is your net income which actually goes into your bank account. But the IRS figures your tax liability on your gross income, so again taxing you on virtual amounts you never actually held. That along with the exchange rate issue can put people in a really painful financial situation. The US has a bilateral treaty with lots of countries, called Treaty to Avoid Double Taxation. But that title is slightly misleading ; it took a tax expert to show me where buried in the annexes to the treaty it says (approximately): The US comports itself as though the treaty does not pertain to it. And therefore US citizens who work and pay taxes abroad are indeed subject to double taxation, based on virtually inflated amounts. This is not about billionaires, this is about people struggling to make ends meet, paying a mortgage, their children’s education, and so forth. One last point I would mention that someone who does choose to renounce has to provide proof of being in good standing with the IRS, having filed for at least the previous five years and having no outstanding unpaid tax liabilities. They verify that before they allow you to renounce. A word to the wise. As for the increase of the renouncing fee from 450$ in 2011 to over 2400$ today, that’s just petty, a cheap shot at dissuading some people from taking the step. There’s no real economic reason for that. As for a few other people here who have commented calling anyone who would consider renouncing US citizenship an idiot or a traitor, that’s just pretty sad but is a typical response from some arrogant people who have no doubt never been in the situation where they actually had to pay thousands of dollars to the IRS based on virtual amounts they never actually had in the bank. I sincerely hope the US will one day change its archaic taxation system, which is based in Civil War era tax laws, but am not holding my breath. As always, thanks for the work you put into making these videos interesting.

I once met an American couple in a supermarket here in Europe and we got to talking. The were a millionaire business couple who own a multinational company in the Caribbean. They told me they had to renounce American citizenship because things started to get really complicated with their business. Now they have the passport of the Caribbean country they reside in, and according to them, have complete freedom to travel visa free without all the tax burdens that came with US citizenship. They also have US visas, so are able to visit family in the US. But they seemed really happy to have renounced American citizenship.

I love your work Kristen and you have a constructive terms.Most especially the high rate of taxes and cost of living is too high for the middle man.

Have you ever had problems opening a bank account abroad? If so, give Wise a try! bit.ly/transferwisebank 💰 (my refer-a-friend link; not a sponsored video). PS: Here are the timestamps of this video if you want to skip ahead to anything: Intro 00:00 Why I'm not renouncing 01:00 Tax benefits 01:35 Tax issues 2:42 Offshore banking 3:10 Marriage 4:33 Cost of renouncing 5:21 Freedom of choice 5:59 Returning to the US 6:30 Family 7:05 Retiring abroad 8:15 US politics and values 8:40 2nd passports 9:22 Why most expats renounce 9:58 Losing your SSN 10:51 Future predictions 11:40 How many people renounce per year 13:24 Global tax system 14:14

Kristin you are just an amazing resourcing on RU-vid. For me, there is NO One around who can explain the intricacies of all this in a more relatable and intelligent way. I'm slowly making my way through ALL your videos. Bless you for your work!

It’s the truth Kristin. I get enormous courage and centeredness from watching your videos. You’ve done many things in a brave and methodical way and it’s incredibly inspiring. Don’t underestimate how much these videos matters, especially to other women !

At my age, I think having social security and Medicare are my top reasons not to renounce my citizenship. Besides, I'm waiting until I'm 79 to run for President. :)

I love what you said Kristin about how you feel not tied by any country or flag! I’m all about identifying with the world. ☺️😊

Just wanted to thank you for sharing SO much helpful information, Kristin. This will definitely help with my decision. 💙

Thanks for this view point. Been seeing so many videos on positive aspects of renouncing.

I just found your channel. I have always wanted to travel abroad. Thanks for sharing.

I am a Mexican immigrant who is about to start the naturalization process. My green card cost me $6000. I am not giving up my citizenship lol. Great video! Very informative.

Love you’re clear reasoning and straight talk.

Many of the things you said really resonate with me. Sound advice and excellent info. Thank you Kristin!

I'll simply fly my relatives out to whatever country I'm at instead of going to the US.

This video was interesting and educational. I have been living in the U.S. half of my life and I’ll continue keeping my dual citizenship. I know someone else who has triple citizenship for the same reasons you mentioned in your video.

Hi Kristin! Thanks for this timely informative video that ‘hits home’ for me. Freedom, choices, and family are critical considerations. U.S. citizenship would be essential to me and my American family in the event that I (or we) become an expat(s) living in Europe.

This was a great video Kristin. Many folks are totally unaware of the ramifications of being a US citizen vs giving up that passport

Excellent primer👍 thanks!

I love this video... so well-rounded 💛

Always interesting 🤔 to watching you channel we learn l lots from you thanks u so much excellent video well done 👏✔

I love your videos. They're always so fun and informative. Thank you Kristin 🙏

Quite shocking information, Kristin. It actually happened to me when i lived in Spain for 11 years, and then, because of the economical crisis, went back to my homecountry Belgium, but with the Dutch nationality. Boy, what i had to do to get my paperwork back in order...books i can write about it...thanks for posting this video..🇧🇪💓🇵🇷

Even if I were to move away from the US, I could never see myself giving up my US citizenship. All my family is here in the US, and a few of my friends are in the US, and it would be very upsetting if I could not get back into the US for any reason. This video as well as the interview you did in your previous video (also the two-part podcast) were really interesting and should be videos people should really watch and listen to if they are looking into renouncing one's US citizenship. It makes you really think: should I or should I not? Thank you for this great video!

Great video Kristin!!!!

Great video Kristen... I retired early a few years back and moved to Mexico. Since then I've traveled all over the world and are in process of deciding where to live next. Also, I got bored so I'm in process of launching my own online business so I need to reconsider my tax strategy. No one should renounce in my opinion unless they have other passports in their hand. But there are ways to minimize your tax liabilities by establishing residency in a state with no state or corporate taxes.

I am from Europe. Have lived in 5 different countries. Florida is awesome to live in, cannot imagine living anywhere else. I travel a lot and will always come back here! I am a dual citizen and my husband has only US citizenship, through me, he has great benefits in Europe. You brought up a good point, I miss my family so much that is why I travel a lot to see them but we are thinking about buying a second home in Europe to be closer to them .

Hey Kristin, I enjoyed both videos related to this general topic of US citizenship. My short answer is "NO", I would never give up my US citizenship because I still believe in what our country has the ability to deliver. With that said, I would definitely consider exploring getting a 2nd passport to make it easier to live in other parts of the world (i.e. the EU). Also, no country is perfect (at least no place that I've found yet) and only by engaging can we make a difference in the world. One of these ways is to have open discussions (like the ones that you present) that present both sides of an issue so that we can share and learn from each other's experiences. Another nice job of covering an interesting and timely subject!!

Thanks for the video ! Nice work.

Nicely done Kristen. Good use of dispassionate logic to explain the reasons for keeping a US passport, as well as the reasons why US tax policy is unlikely to change anytime soon. Keep up the good work.

Your audio sounds great girl 🎉☀️😊

I am 66 and I am attempting to obtain a second citizenship. I am fully vested in Social Security which you can keep if you do renounce. I just want to live in a free country that has smaller less dictatorial and abusive government and where I can live a peaceful and non-harmful existence. When I went to school young children saluted the flag of the US every day. hand over heart. There were no school mass shooting, the United States is no longer that place. Go Where you feel as though you are treated best.

A striking observation you made which I agree with is that of not belonging to any particular country when you have lived in many lands. I have always felt like that.

Good Information 👍

Sunday mornings Traveling with Kristin; this is great. I've commented previously why, even though I hold 2 other passports - and can get yet another, we decided that renunciation just didn't pencil out for us...with family being the main factor that tips the scale. You are so correct about the expats who move to some beach-side (usually a concentrated expat community) in Central America or SE Asia, ultimately return after about 5 - 7 years. I submit the key to enjoying ones life is balance and contrast. Renunciation is a political statement (Tax policy is political. Imperialism is political). What we have found is just living in another Country (or Countries) for 4-6 Months out of the year allows one to mentally decouple from the societal stress we get burdened with in the U.S. The never ending parade of horrors that we are bombarded with in the media, and by friends/family that parrot the media. The us. vs. them (divide and rule) fear narrative has almost no impact when one lives among the people we have been told to be so afraid of. Thus even when living in the U.S., I look at everything and everyone not from a participant point of view, but as if I am a spectator viewing an Amateur boxing match. However, I must say this "mental disengagement vaccine" of living abroad part-time needs recurring "booster shots". Otherwise it will _lose its efficacy over a short time._ We haven't been out for going on 24 Months now. Reinfection rates are high when immersed in the general population.

I've been thinking about leaving, ever since I was a child. Grew up in a toxic/narcissistic family; filled with fake smiles, mind/emotional games and manipulation, constant tactics (gaslighting and interrogations), condescension, guilt trips, materialism/superficiality and so forth. Just got tired of seeing that when I stepped outside my door, as well. Feel like I have to have a defense system prepared, just to get my groceries; because there's always someone waiting to pounce and scam something out of you or put you in a dangerous situation. If/When I leave; it'll be to improve my way of life and health. Whatever hassle it is to do so, I'll be willing; for a healthier and happier way of life. Fingers crossed for change here but as long as people defend unhealthy ways for no logical reason, I think I might see another walk of life; at least, for a change.

Thanks for the advice am on your side

Very good informative video.

Spaniard living in the United States for 35 years. No the slightest intention to become a US citizen. I do appreciate the opportunities of this country, my children born here and other things but my heart will always be in Spain. In matters of the heart, I am sorry to say that I don't have control.

I would renounce my U.S. citizenship, primarily, because of the work culture. I've allowed work to consume my life to the point of seeking therapy and taking antidepressants. Thank you for your video's, they're helping me see other doors of opportunity.

Hi, I'm half way into the video in there seems to be a lot of boom sounds. Not 100% sure where its coming from but, one thing you can try in editing is using a "High Pass Filter" If you don't know what that is that allows the High Frequency Sounds to pass though well cutting out some of the Low Frequency Sounds. This may help and you may just have to play with the settings. Not sure if it will 100% work but, wont hurt to give it a try next time if this ever happens again. Also thanks for your videos Iv only seen a few of your videos but, I enjoy them and keep doing your thing and hope your having a great day or night. Side not if the hi pass does not work if you have a EQ that might be even better if you can find the Frequency of the sound. May also try using both even if it does not 100% get rid of it having less of it would be better.

Really informative video! For me, family is 100% my reason not to renounce as well!

It really only makes sense to do it if you have become a PR or citizen in another country permanently, and Kristin has chosen not to do this. If you are using the US financial systems for your business and personal wealth management then there is no real benefit in renouncing. Enjoying the lifestyle of being a US expat is really quite different than permanently aligning with another country.

I agree with everything you said. I cant imagine not being able to get back here for whatever reason. I hate taxes like everyone else, but I love it here and want to come back whenever I want. Im in Florida also btw. Love your channel. And, let's not forget, we have the opportunity to leave and travel and live abroad because of the opportunity given to us by being Americans.

Love your sentiment about being citizen of the world! Well said about not renouncing us citizenship.

Happy birthday miss Kristin I heard there a big party in Miami this week

I resonate with this so much thank you for speaking up and helping other people with the truth that a lot of us aren't ready to or aware that we need to admit for ourselves to be happier on a core level

Your voice is really soothing to me. I'm freaking out about living abroad for the first time (Cuenca, Ecuador), and I needed to breathe again. Thank you!

Hmm, very interesting points. You're both smart and wise.

I love your point of view on life

As far as I know, social security number is for life and it's still yours even if you renounce your US citizenship.

I just got my US citizenship after working here for 35 years. I did try a couple of times but gave up because of the paperwork. I discovered a few years ago that you can now do it online. Being in IT it made it so much simpler, I cant remember exactly but i think you have 40 days to complete it. Being English I kept my UK citizenship as it costs me nothing, unless I moved back which I will not do. I still go back often to visit friends and family.

Hey Kristin, do you have a video on nomad health insurance? I thought you would, but I can't find one. Looks like your bio links to Safety Wing, but there are two links? Is the only difference the home-country coverage? Might be useful to have a video explaining it. Thank you

A bit off topic but Kristin, how do you manage to travel so much with your dog? It seems like so few airlines take them, it’s hard to take them on trains and public transport. How do you manage? I would love to be able to! Have you done a video on that yet?

I'm leaving, because I need less expensive health care. Therapy is way too expensive here, and I can't seek help.

Have you been to Peru and what do you think of it if you’ve been there for digs to nomads and pensioners?

Which mic do you use and do you know when the next digital nomad cruise will begin?

Hello Kristen hope you're doing well. I have a question and I hope I can get an answer from you ASAP. I'm a US citizen living abroad with my foreign spouse. Here we are not allowed by law to file jointly, but can my spouse income still be tax by just having a joint bank account? Thanks.

It's a personal choice for each individual has to make themselves I think..

Exactly! It's about humanity and not flag!!! I have lived abroad for 13 years and have residency, but unlike a lot of my American friends have never thought about getting my French citizenship even though I could and still keep my American nationality!! I am American and although I live abroad never want to be anything other than that!! My kids have dual nationality and are lucky to have both, but I don't want to be anything other than what I am...American!!!

You make sense about not renouncing. Especially thinking ahead to the long term pros and cons. I also wonder when expats move abroad are there any complications with their home state if they no longer have residence in the state? It would be an extra expense to stay setup in the home state while living abroad. How did you do it?

I enjoyed listening to this video, and the information you spoke about, you always do your research, and you give your subjects 'balance', thanks . As an experienced global traveler, of 50+ years, one constant I can always relay on is my US Passport, as I know it will allow free access to literally any country in the globe, it is , without a doubt the most recognized, accurate and reliable passport of any country. ( Except for recent illegal immigrants, who may achieve American citizenship) This is also now true for a EU country, one of the benefits to an EU citizen is ease of entry into other countries. Again I am a faithful listener to your vids, keep them coming.....

I love your videos so much. I'm not US citizen, but I would never renounce my own citizenship. In Germany there's no way to pay an amout of money and then your stop being german citizen. But eg if you're planning to get the US citizenship, and you forget to file a document why you want to hold on your german status, you loose your german citizenship forever. In the future I'm planing to get second passport. Looking forward to your video about it.

It total make sense to renounce US citizenship if having high net worth, Remote Business, or have an equal passport like Switzerland, Australia, Sweden, UK etc. It’s not feasible for me to do that, but I have plan to move out after my 50s

min 2:44 which is the other country how tax people based on where they are from?

Social Security is so little money that it shouldn't be a factor AT ALL in your decision.

This is very interesting. Doesn't affect me but I had no idea. I can see how people can get in trouble with this. Personally' I wouldn't renounce my US citizenship for...well...I can't think of a reason that would make sense to do so.

I would be interested to hear you talk about what to look for in an accountant . If you live abroad but work for an american company remotely is that still so complicated ?

Hi Kristin - I'm wondering what you do, as an American, about healthcare insurance. HC insurance is of course required by those of us who live in the US. So how do you go about this? Do you have some sort of "international Blue Cross and Blue Shield" that covers you anywhere in the world? Thanks!

Biggest problem with renunciation is that most are denied. A better strategy is just move overseas and stop filing any paperwork. We call it "Going Dark".

"I relate more with humanity and the planet, than I do with any sort of flag or national anthem" I can see the appeal but I'm not so sure I completely buy into the whole "I'm a global citizen" thing. The truth is that you will never be Thai, Peruvian, Kenyan, Tibetan or Indian. Like it or not, history, culture and roots are extremely important, we're not just some random citizens of the planet that could live just anywhere. You'll always be American and will always relate to westerners more than to the rest of the "Planet" or "humanity". Just look at the countries you picked to retire, all western, with people that share a certain cultural, social and historical background with you, and that's not a bad thing at all.

Pls, what's the other country that taxes people based on where you are from?

I love your chanel

I was very surprised when I heard this podcast episode for the first time, but I guess if you still have family or friends in the US it makes sense.

As you touched on, money is the last reason why I would give up my U.S. citizenship. There are so many intangible benefits and privilege you get from having an American passport. Also, you have to get a citizenship in another country first, or you remain stateless, which is the worst possible situation. Also, you're subject to the vagaries and privilege of the passport of your new adopted country, which might allow you to travel to certain countries.

Great considerations! Fascinating about the voting side. We complain a lot but don't vote, which tells you that the complaints are really not heartfelt enough to motivate action. We're good countries where the issues are truly important and the voter turnout is much higher. I am fascinated about the idea of dual citizenship, e.g., a situation where for example a parent was from another country.

Howt video Kristin! How is Miami going!

I will not renounce. After living abroad for several years I realize there are many privileges US citizens have. In fact, keeping my state residency with an address still allows me many advantages. Right or wrong, we are privileged, and I am not going to give that up.

You say it's hard to have Offshore Banking if you are American. That may necessary not be true because corporations american-born corporations have a lot of offshore accounts and they get away with it..

Hi Kristin, would you mind recommending an accountant for expats!

Thanks for the info Kristin. I have dual citizenship but I am born and raised Canadian which I would never give up(relatives on both sides of the border). I might have to give up my US because I do not want to burden my Kiwi fiancee for the taxation(which is absurd taxing a citizen of another nation). I agree family is important.

Kristin, one correction you might want to look into - if you renounce citizenship, you don't throw away your SSN, nor do you lose what you've paid into Social Security. I researched this quite seriously before renouncing.

If the passport wasn't so powerful, then I would definitely renounce my US citizenship!

You gave a another brilliant analysis Kristin. I always loved to travel and have had the opportunity to visit and work in 19 areas throughout Europe. After evaluating the strengths and weaknesses of renunciation I choose to not do that. There are PERMENENT liabilities of renouncing citizenship, I will never renounce my US citizenship. Eventhough there are at least twenty different area of disagreement with it's Policies at the moment, I will keep my citizenship in my back pocket and continue to travel internationally for the next twenty years. Travel is life! Explore the world. 😍

Is that true about losing your SSN and retirement income entitlement ('social security') if you renounce?

Like I said before I for one have dual citizenship British and American.. so I have best of best of both worlds ..you can do it too..

Perhaps you should devote some time to organize an expat lobby to improve these tax laws. If you don’t speak up, who will?

Thanks Kristin for sharing your knowledge of competing issues which muddle renouncing U.S. citizenship. I had no idea so few U.S. citizens renounced! Two reasons I won’t renounce are… 1) I like it here in the Pacific N.W. U.S. and 2) pandemics/global warming and the like have opened up a can of chaos and changing restrictions… stranded possibilities are endless… would it be that bad? ✌🏼🐸

I understand your view. It is easy for persons with dual citizenship (with stronger passports) to renounce

I have too much invested into social security, and family/friends (most in the US) are an important part of my life, so renouncing citizenship doesn't make sense to me. Erika's decisions to do so makes a lot of sense to me, and I respect her for it and hope the best for her.

Glad we will continue to be fellow Americans 😃

7:41 9:16 Words of gold 🥇🥇🥇🥇

Thanks Ms Kristin..the way you layout your subject is perfect. why not rich Americans go to peurto rico and lower their taxes.?

Nomad Capitalist's Andrew Henderson will totally oppose this video.

But here is the entire problem with the billionaire thing: they can afford it, they just don't want to. They can pay taxes and never notice, but they don't want to. It's so selfish. They likely never would have become who they are without being a U.S. citizen...like the Facebook guy. If he was not in the U.S. at the time, he would not have been the Facebook guy. I'm in my 3rd year of law school at 46 years old after raising three kids to make this country better. Those billionaires who bail to save cash infuriate me. I believe there are plenty of reasons for a person to want to leave. I do not think the billionaire class qualifies. But that's just my opinion. Thank you for such a thoughtful video.

Thank you for the content Ms. Kristin. It is always good to hear different perspectives as well as how individual's priorities are integral to their positions/opinions. Your concern regarding the possible need to care for elderly parents, long term in the states is certainly valid. My parents are deceased and my wife's parents live abroad, so we would not have considered this point. Our family's reasons to renounce our US citizenship were numerous,... but in terms of our top three priorities.... a) Many countries are safer and more wholesome for our children to grow up, than the US,.. b) US culture and politics do not remotely align with our Christian values,... c) We would rather pay more in taxes, in these good, clean, decent and safe countries, rather than pay less, but be guilty of supporting the US cartel (gov't) and the insidious culture that drives them. Compared to the cultural and political "cancer" that has metastasized in the US,... once we actually experienced GOOD living in South America, Eastern Europe and Southeast Asia,... not only was it crystal clear to us that we were going to leave the US,... but we actually find it a bit nauseating now, when we fly in to visit family and friends. We can usually coerce them into coming to us, by covering half of their airfare! Lol! Thank you for the content and fresh perspective.

What is the other country that taxes its citizens even if living abroad?

You hit the nail on the head Kristin. People had better know what they’re doing before renouncing their citizenship. I’m not a fan of our taxation system because those in the middle seem to get the shorter end of the stick daily Something has to be done to tax the rich the most( not the least)! BUT I’m happy that in the end I do have my SS and the comfort of knowing I have my own ( familiar) country and my family is close by. The old saying “it’s the devil you know” rings true Thanks for posting ( love your vids) ❤️ 🙏👍