US Passport: From one of the most valuable Assets in the World to a Liability that many don't want

[@Troy-nc5br]

In Nashville Tennessee my home has more than doubled in price in less than 5 years I will be venturing to Merida Mexico for a potential permanent stay

[@AmusementForce]

The US should set up vending machines where you just insert your US passport, push a button, and you are done renouncing your US citizenship...

[@MichaelRosmer]

😂😂😂😂

[@dexterspeights3484]

Cheaper and no personnel required!

[@autobotdiva9268]

💯

[@vasionok]

No way, they will make it maximally painful. In the end, it will be a felony.

[@ronaldpogi9371]

exactly😁😁😁

[@VERTICALWisdom]

As a US citizen and "old" ARMY veteran - I am renouncing this year. America is on a farewell tour. America has lost it's way, much like a car that slowly rusts in a field from neglect; or a tree on the horizon that from a distance looks strong and healthy but as you get closer you realize in the next storm it will fall to expose its rotted core. Storms are on the horizon. This is America today - I am leaving before the storm.

[@MichaelRosmer]

Terrible, looters doing their damage

[@dexterspeights3484]

Look how US Government rewards ARMY veterans with poverty, unemployment, taxation on income during miltary service and decrimination if you are minority fighting for god, honor and country!

[@AztlanViva]

So, do you plan on becoming a Mexican, Canadian, Pole, Thai, or what? Bet my eyeteeth you're just bellyaching. You'll be sayin' the same thing this time next year.

[@AztlanViva]

@Dan Pos Deportation doesn't work that way. You're in luck my friend. Businesses are begging for workers. I live in the rural south. Hell, if workers are in short supply in these parts, I can only imagine what it'd be like in urban areas.

[@mikebreen2890]

@@AztlanViva That is of course what many people miss, you need another citizenship to be free of the land of the free. There is no such thing as "simply renounce" and yet if you do not you have with a star spangled ball and chain on your ankle marked IRS. Land of the free, my ass.

[@tamaranicholefrancis]

They didn't do surgery on my back which is the reason I came to america at 13 + years old. Now at 47 years of age it is too late. When I receive my usa passport book with good prayers I will keep it.

[@timlinator]

My dad emigrated to America from Ireland in his teens with his family so am I dual citizen considering moving to Ireland and eventually renounce my us citizenship. Ireland is not the poor country he left and USA is not the country he emigrated to.

[@ajaygulani3086]

I'm a US citizen living O/S - I'm not going get my kids citizenship unless I am 100% sure that they would ever want to live there. I don't want them to inherit the tax burden I have every year.

[@Bambotb]

It's amazing for jobs but it's a disaster for all these repoeting etc ..draconian

[@MobileDeveloper1965]

I am one of them. I will never go back

[@BossChronicles]

Quality of life in USA is going downhill its just gonna get worse

[@dexterspeights3484]

I agree 1,000%

[@FJF119]

Pres Sleepy Joe Biden could be compares to " The Manchurian Canidate "

[@tytraulich4987]

@Sneakerz On Deck Lot of Americans can only afford to sleep in their vehicles.

[@chamcham5561]

Thank you for your videos, I find them very interesting and they get me thinking a lot!

[@OffshoreCitizen]

I'm very glad to hear that! It's always a pleasure. Anything you'd like to see in the future?

[@drewintergalactic76]

Americans are figuring out that the corporate culture in this country is brutal compared to other countries. Let's be honest America is not a country anymore it's a corporation there is a reason the great resignation has happened it didn't happen by accident

[@molinaridiego]

Not only the bureaucracy or cost. If you file wrong or forget something, there’s going to be a Prosecutor that wants to move up in his/her career and will throw a lawsuit to you and put you in a situation where is better for you to take a plea deal. Prosecutor goes home happy showing a “great” case and you end up with a record. It happens every day in different situations. US legal system is the biggest threat.

[@pures1n]

If your spouse is not a US citizen, but you are -- and you both move abroad, could you not just live through your spouse's citizenship tax-wise? If you make your income through crypto.

[@thel7503]

"The whole US system is designed to keep money in the US".....that moment when you realize you have my undivided attention

[@MichaelRosmer]

Yeah kind of funny how that works

[@mikebreen2890]

It's true, US laws and tax code could not make it clearer. A foreign financial life is effectively punishable and by extension, the US punishes its tax cows that leave the plantation especially with FATCA to make sure they can't hide. Land of the free?

[@RishabhMazumdar]

@Dan Pos 😂 valid question

[@mikebreen2890]

@Dan Pos The US demands you live the full US tax code even if you leave the USA, they don't care if you are rich or poor. When you go to open a bank account abroad, the bank will not care if you are rich or poor, they will be either refusing to have you as a client at all or they will be reporting all your data including bank balances to the IRS. Many of the problems now happen without the IRS getting involved, getting turned away from financial institutions is just one of them.

[@mikebreen2890]

@Dan Pos The problem for the poor American is paying for the CPA to do the reporting work they cannot do themselves, IF they need to report. Of course you might be able to do it on your own, but errors and omissions are of course met with huge penalties. Most people appear to have come to the conclusion that it's safer to not file a damned thing, and mostly the are right.

[@4inaftermath454]

Looking into getting a Japanese passport, renouncing my US citizenship after . This man is speaking truths, banking off shore is so much easier .

[@bleedingkansai9961]

Why Japan? I've been here for a few years now only because of research and a relationship, the economic and financial culture here is abysmal.

[@ian7379]

Looking for to the video that details the process to make sure I haven’t missed anything. I’m probably 9 years out. It takes a lot of planning.

[@MichaelRosmer]

I'll do a video on it soon

[@SAINTwolfVISION]

How can we find out which US offices in the world are open to renounce citizenship in 2022?

[@OffshoreCitizen]

Unfortunately, it requires calling them

[@OffshoreCitizen]

If you need help you can reach out to us

[@elvinmingel]

I wonder why people still want to migrate there

[@ContrarianExpatriate]

Mainly for economic reasons. I have friends from all over the world who DREAM of living in the USA. I glean that they feel it is easy there to find high paying jobs and a middle class lifestyle. That is a short sighted view however.

[@dexterspeights3484]

The grass is always appears to be greener on the other side of the fence until you jump over the fence and see it for yourself!

[@OffshoreCitizen]

Yeah America has good branding. Wages are also definitely higher there

[@hindenburgminsky7638]

The Chinese still love America. It’s a free land

[@JawnCoaltrain]

@@hindenburgminsky7638 it’s free real estate

[@LordMalice6d9]

I stopped having any real love or appreciation for the US before it became popular. When I was 20 yers old in 2009. My visas on my passports have become pretty useless now in recent years for China and Poland especially after travel bans.

[@tinglestingles]

Eritrea? Isn't that the only other citizen-based tax system, 'currently'?

[@MichaelRosmer]

Yes, though it's sort of meaningless there. Hungary has some weirdness too, not the same as the US by any stretch but at least includes citizenship as a default factor.

[@buhdahto]

Unlike "the land of the free," the Eritrean government lacks the power to force its expats to comply.

[@mikebreen2890]

@@buhdahto So does the USA, mostly.

[@mikebreen2890]

@@MichaelRosmer I've never really got to the bottom of just what it is Hungary actually does with it's citizenship/taxation link, but on the other hand I have never heard anyone complain about it either.

[@buhdahto]

@@mikebreen2890 U.S. expats are renouncing in droves because the U.S. government has power that Eritrea's government lacks.

[@cody4916]

No other country does this to its' citizens

[@buhdahto]

Eritrea tries to, but lacks the power the U.S. government has.

[@buhdahto]

If you include all the so-called accidental Americans, the number of U.S. citizens living outside the U.S. is closer to nine million.

[@user-nd9re8vr6l]

There are a lot of people living in the US who should abandon their citizenship

[@onlythewise1]

why call fakers Americans

[@vipdemand5965]

I have a question regarding exit tax, which day is the real exit tax day i mean the day you faced consulate/embassy to take renunciation oath or the day you receive cls/ certificate of loosing citizenship after couple of months?

[@OffshoreCitizen]

Day you renounce that's your last day as an American

[@vipdemand5965]

@@OffshoreCitizen so the very next day you can declare your new net worth doesn't matter if someone donate it to you without having exit tax trouble?

[@autobotdiva9268]

Definitely on my mind 💁

[@shaahwithshire2469]

Thanks for sharing this informative video with us. Do you assist clients obtain a permanent residence overseas? Thank you 🙏

[@OffshoreCitizen]

Yes we do, you can send a message through our websites if you're interested

[@RishabhMazumdar]

The problems being American 1 Citizenship based taxation 2 Insanely High medical costs 3 Insanely High college education 4 scrap gun laws Etc etc tired of writing 😅

[@OffshoreCitizen]

Lol Any benefits you'd like to share?😁

[@RishabhMazumdar]

@@OffshoreCitizen Yeah sure😁 1 Very Business friendly 2 US Dollars 3 Being an IT Engineer USA is a heaven 4 Very strong economy and a lot of jobs Can't remember more you can definitely add some more points 😅

[@mikebreen2890]

@@RishabhMazumdar Us dollars?

[@RishabhMazumdar]

@@mikebreen2890 Yes, US dollars are easily accepted everywhere, conversion rates are good Moreover many locals also accept US dollars.

[@mikebreen2890]

@@RishabhMazumdar Try going shopping with US dollars in the UK. Outside of a couple of tourist places in London you're going to be looked at like you lost your mind. I have no idea how you can claim conversion rates are good either, cash conversion rates are always going to be poor.

[@Ast151]

I'll keep it. But I am going to acquire some European residency just in case

[@OffshoreCitizen]

Makes good sense, where are you thinking?

[@Ast151]

@@OffshoreCitizen Portugal is the easiest and cheapest one

[@MichaelRosmer]

@@Ast151 yeah it's a decent option. No citizenship by descent options for you?

[@fearlesslegend2073]

And yet , 10000000000's of people are willing to bent over to get our citizenship

[@OffshoreCitizen]

They have been but history is not destiny, the tide is turning.

[@mikebreen2890]

It's irrelevant to those wishing to be free.

[@bhgggygygg7019]

Me too i give up good bye....

[@Gnnesh]

Ok how much people are actually do it lol? Not even a thousand??? Be grateful

[@primowaldemar7441]

Why? Do you want answer? Find video "You live in a bubble" (11 reasons why america is not great)

[@nineseven420empire3]

It is going to bite many of them in the ass😆

[@MichaelRosmer]

If it bites enough hopefully they'll do something about it

[@MrWaterbugdesign]

The US making it difficult to remove cash in its self-interest. It has nothing to do with "land of the free". That expression never had anything to do with doing whatever you damn well wanted to do. If the US stopped people from removing cash completely that would be different, but the US doesn't do that. The US made it possible to accumulate that cash, people gave their lives to enable that and protect your cash. We get to have a say if once accumulated what the rules are for you now walking out.

[@mikebreen2890]

The US is preventing people leaving, it does not matter how much money they have. To increase the barriers to leaving based on the ALREADY TAXED wealth that you have earned tramples all over basic human rights.

[@abouttime7410]

Cheapest English speaking nations to get residency in?

[@Ast151]

Everybody speaks English nowadays

[@OffshoreCitizen]

Probably Malaysia at least in KL it's essentially English speaking.

[@tinglestingles]

@@OffshoreCitizen Malaysia... great food!! Low tax, low crime and good food!!

[@harisadu8998]

I would say all the Caribbean countries are more English speaking than Malaysia and are considered to be first language English speaking countries. So you can pick a country like Grenada or St Kitts and Nevis.