Economy

Demeter

(85,373 posts)

17. Bulk of Americans abroad want to give up citizenship

Mon Oct 27, 2014, 11:28 PM

Oct 2014

http://www.cnbc.com/id/102122343

A staggering number of Americans residing abroad are tempted to give up their U.S. passports in the wake of tougher asset-disclosure rules under the Foreign Account Tax Compliance Act (FATCA), according to a new survey.

The survey by financial consultancy deVere Group asked expatriate Americans around the world "Would you consider voluntarily relinquishing your U.S. citizenship due to the impact of FATCA?"

Seventy-three percent of respondents answered that they had "actively considered it", "are thinking about it" or "have explored the options of it." On the other hand, 16 percent said they would not consider relinquishing their U.S. citizenship, and 11 percent did not know...

THINK OF THE FACE-SAVING YOU WOULD GET...NOT HAVING TO APOLOGIZE FOR THE GOVT.

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