Record Number Give Up US Citizenship

Record Number Give Up US Citizenship

WSJ

A record 1,335 people renounced their U.S. citizenship or long-term residency during the first quarter of 2015, according to a list released by the Treasury Department on Thursday.

The total is the highest quarterly number of expatriates since a law requiring the publication of their names was enacted in the 1990s, according to Andrew Mitchel, a lawyer in Centerbrook, Conn., who tallies the lists of names. The previous quarterly record was 1,130 for the second quarter of 2013, he says.

The new figure puts 2015 on pace to exceed the total of 3,415 renunciations in 2014, which was itself a record. That was up 14% from 2,999 individuals in 2013, the previous record.

A new survey conducted by a Hong Kong-based company that specializes in tax preparation for American expats found that 27% of the 1,840 Americans who responded were “seriously considering” renouncing their U.S. citizenship. That’s a jump from the 18% who said the same thing in the company’s 2014 survey.

Editor's Note: To address this topic we’ve prepared for International Man readers a free report called The American Expatriation Guide—How to Divorce the US Government. This report will guide you through the process of renunciation in amazing detail. To get a copy go to the Free Guides & Resources section to download the PDF.

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