More Americans than ever are giving up their US citizenship


Nearly 6,000 people gave up their US citizenship in the first half of 2020, reports CNN. This is a sharp increase over the same time period in 2019 when slightly over 2,000 Americans gave up their citizenship. The figures were compiled by Bambridge Accountants using public data the U.S. government publishes of the names of people who renounce their citizenship.


One of the main reasons people renounce their citizenship is to avoid tax complications, but this year people had other reasons, too. From CNN:



"These are mainly people who already left the US and just decided they've had enough of everything," Alistair Bambridge, a partner at Bambridge Accountants, told CNN.

"What we've seen is people are over everything happening with President Donald Trump, how the coronavirus pandemic is being handled, and the political policies in the US at the moment."

 


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