econintersect .com

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 09 March 2017

Historic Numbers Renounced Their US Citizenship In 2016


-- this post authored by Niall McCarthy

According to recently released data, the number of Americans renouncing their citizenship has reached a record level.

In 2016, 5,411 individuals gave up their US citizenship, a 26 percent increase on the year before. Interestingly, Boris Johnson, the UK's Foreign Secretary, was among those bidding their US passport farewell last year. He was born in New York and held dual nationality.

The number of people following his example has been rising steadily in recent years. Back in 1998, only 398 people did it. More recently, 3,415 individuals gave up their citizenship in 2014 while 4,279 did it in 2015. Money is likely to be the main reason behind the move. The U.S. and Eritrea are the only countries requiring their citizens and permanent residents to file taxes, even when they live abroad. This means that American citizens can rack up considerable U.S. tax bills, despite living in a completely different country. Boris Johnson is known to have incurred a substantial tax bill when he sold his home in London, even though he didn't reside in the U.S. for years.

This chart shows individuals who renounced their US citizenship or terminated their long-term residency.

Infographic: Historic Numbers Renounced Their US Citizenship In 2016 | Statista You will find more statistics at Statista.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

Econintersect Contributors

Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

 navigate econintersect .com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved