In the United States, there seems to be a rush to renounce citizenship. More Americans have renounced their citizenship this year than the previous year. In the first six months of 2019, 2,072 people renounced their citizenship. But in the first six months of this year, the number has risen to more than 5,800.
That’s according to figures from the New York-based Bambridge Accountants on Sunday. The agency says it has confirmed the numbers by analyzing various government data. The US government publishes information every three months. The names of the people who renounced their citizenship were revealed there.
Alistair Bambridge is a partner at the Bambridge Accountants Institute.This is basically a list of people who have already left the United States,” he said in a statement. They have decided that they will never return.
“What we are seeing is that people are making such decisions because of what is happening because of President Trump,” the statement said. People are relinquishing US citizenship, especially because of the current political climate in the United States, the way the coronavirus epidemic is being controlled, and more.
Many are dissatisfied with the current political situation in the United States. Besides, many others are talking about taxes. Because even if a citizen of the United States is abroad, he has to pay taxes every year. They even have to provide various information about their bank accounts abroad.
Those who wish to renounce their US citizenship must go to the US Embassy in a country other than the United States. There they must pay $2,350.
Alistair Bambridge said many people in the United States are looking forward to next November’s election. They are waiting to see what happens in this upcoming election. If President Trump wins again, we believe that the tide of renunciation of US citizenship will increase.
News Room, August 10,2020