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Renunciation of US Citizenship

US Global Tax helps US expats living and working in Australia undergo the process of renouncing their United States citizenship. We provide the advice and insight you need to work through this life-changing decision. We’ll help you book your renunciation appointment at your embassy or consulate for your Certificate of Loss, and stick with you through your final tax return. Continue reading below to learn more about the renunciation of US citizenship.

What is US citizenship renunciation?

The renunciation of citizenship is one of the most impactful decisions a US citizen can make. It will have far-reaching consequences for everything from taxes to the visa requirements for visiting other countries around the world. You should never renounce your US citizenship unless you are a dual citizen with Australia or another country to avoid becoming stateless. Often, people choose to exchange US citizenship for citizenship with a foreign state to avoid paying taxes to two countries. Many US citizens in Australia have chosen to do so over the past decade due to the higher tax burden imposed by the FATCA legislation.

US Citizenship Renunciation Tax Assistance

Over 4,000 Americans renounced their US citizenship in 2017, the highest number in recent years, though the number of renunciations has been considerably higher since 2009, possibly owing to the expansive impact of FATCA. However, it's important to understand that a US citizenship renunciation tax may apply if you meet certain financial criteria.

The renunciation of US citizenship can be a profoundly emotional decision, one that is further complicated by considering the associated tax implications. Depending on your net worth, an "exit tax" may be necessary to complete the renunciation process. Your tax professional must understand the finer details of renunciation and its relevant forms before beginning this permanent process.

Here at US Global Tax, we have helped many US citizens relinquish their US citizenship, often because they simply could no longer manage the tax obligations of dual citizenship. Our clients come to trust us because of our personal, friendly service and dedicated assistance through the entire process, as well as our commitment to ensuring that the renunciation is compliant with any tax purposes.


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