This is why US People gave up their Citizenship

This is why USA People gave up their Citizenship

This is why US People gave up their Citizenship
People leaving US citizenship.
  • In the first six months this year, more than 5,800 Americans gave up their citizenship, compared to 2,072 Americans.
  • According to the firm, people are upset with the working of US President Trump.

Washington A research published on Sunday in America has revealed that a record number of people are returning their US citizenship. According to Bambridge Accountants, a New York-based firm, more than 5,800 Americans have given up their citizenship in the first six months of 2020, compared to 2,072 Americans.

The report is published by the US government every three months

The firm said it has investigated public data. It is published by the US government every three months. Here are the names of all Americans who renounce their citizenship. These are mainly people who have already left the United States. This information was given by Alistair Bambridge, a partner of Bambridge Accountants.

Unhappy with the working style of President Donald Trump

According to the firm, people¬†are upset with the working of¬†President Donald Trump¬†.¬†People are disillusioned with America because of their methods of dealing with the corono virus epidemic and their political policies.¬†Most people who renounce American citizenship are unhappy with today’s current political climate.¬†According to Bumbridge, increasing pressure in America is also another reason.

US citizens living abroad are still required to file tax returns every year, giving them information about their foreign bank accounts, investments and pensions. He says that America’s annual tax is too high.

Must attend in person at US Embassy

Americans who want to renounce their citizenship have to pay $ 2,350 and have to appear in person at the US Embassy in their country. Despite the risks that come with granting US citizenship, Bumbridge predicts that the trend will continue.

According to the firm, many people are waiting for the November election, they want to see what is going to happen. If President Trump returns again, we believe there will be another wave of people who decide to renounce their citizenship.

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