- Mar 25, 2007
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Quote:
If you keep your citizenship for ten years. Depends on how fast you can get your citizenship in the new country.
If you keep your citizenship for ten years. Depends on how fast you can get your citizenship in the new country.
Also, if you change your citizenship everything you own and have title to will be considered subject to income tax in the year that you do change citizenship. That can be a very hefty amount.
Can you explain this more? I have relatives on both sides of the pond who have both changed citizenship completely and some who have become dual citizens. They never paid more than the regular income tax on their income, and the property taxes due on the property in the country they owned. For sure you don't pay property tax to two countries, and property that doesn't generate income doesn't result in income tax. But, that's only counting a few European countries that I know for sure don't do such things. Which countries count residential property among income?
Can you explain this more? I have relatives on both sides of the pond who have both changed citizenship completely and some who have become dual citizens. They never paid more than the regular income tax on their income, and the property taxes due on the property in the country they owned. For sure you don't pay property tax to two countries, and property that doesn't generate income doesn't result in income tax. But, that's only counting a few European countries that I know for sure don't do such things. Which countries count residential property among income?
Some countries require you to post a bond or show that you will have sufficient income to support yourself. No country wants poor people.
Yeah, all the EU countries require that you have sufficient income to last three years.
Yeah, all the EU countries require that you have sufficient income to last three years.
The powers that be in the US may possibly cut off social security payments to expatriots.
I doubt that. We have reciprocal agreements with many, many countries. Most Western versions of a "pension," be they Social Security or otherwise, are payable overseas. All private pensions for sure, you can collect anywhere in the world as long as you have a bank account to receive funds.
I doubt that. We have reciprocal agreements with many, many countries. Most Western versions of a "pension," be they Social Security or otherwise, are payable overseas. All private pensions for sure, you can collect anywhere in the world as long as you have a bank account to receive funds.
There is no medicare for those living abroad.
No, but most Western countries have some sort of government medical care that is provided to everyone including non-citizens. The US is one of the very few that doesn't. Just about anywhere you go, you'll actually be trading up in life span and quality of care.
No, but most Western countries have some sort of government medical care that is provided to everyone including non-citizens. The US is one of the very few that doesn't. Just about anywhere you go, you'll actually be trading up in life span and quality of care.
If you have family roots in some countries, you may still be considered a citizen of that country even though your mother or father left that country years ago. That means that you may suddenly find yourself owning a considerable amount of taxes.
Which country specifically? The EU ones definitely do not do such things. I've never heard of the Asian countries doing that either.
Which country specifically? The EU ones definitely do not do such things. I've never heard of the Asian countries doing that either.
Worse, you could be subject to a military obligation.
Depends on the country. Most are happy to exempt old farts like me.
Depends on the country. Most are happy to exempt old farts like me.
