Green Card Expatriation: How The US Tax And Regulatory Regime Is Negating ”The Blessing Of Foreign Talent”

<p>January 28, 2022 - Participants Include:</p> <p> </p> <p>John Richardson - <a href='https://www.twitter.com/expatriationlaw'>@Expatriationlaw</a></p> <p> </p> <p>Hamza Assyad - A Green Card Holder Living In The USA - <a href='https://www.twitter.com/AssyadHamza'>@AssyadHamza</a></p> <p>_________________________________________________________</p> <p>Renouncing US Citizenship:</p> <p>On January 14, 2022 my podcast guest was Max. Max was born a dual citizen who  moved from the USA - as a young adult  to Germany - and renounced his US citizenship. It was a particularly interesting discussion because of the reason Max offered as  leading to the renunciation decision. After a great amount of research, reflection, deliberation Max determined that his US citizenship made it impossible to engage in normal financial and retirement planning. You can listen to the "Max Podcast" <a href='https://prep.podbean.com/e/understanding-why-people-renounce-us-citizenship-the-perspective-of-a-man-in-his-twenties/'>here</a>.</p> <p> </p> <p>Abandoning The Green Card:</p> <p>Shortly after the "Max Podcast" I was contacted by Hamza  who offered to describe why:</p> <p>1. As a Green Card holder living in the USA he had chosen to NOT naturalize as a US citizen; and</p> <p>2. Why he was planning to move from the United States before he would be subject to the US 877A Expatriation Tax (becoming a "long term resident" who was a "covered expatriate").</p> <p>Hamza's decision was informed by the fact that he did NOT plan to live in the United States permanently and therefore could not risk staying too long.</p> <p>Today's podcast with Hamza was particularly interesting because it also includes a comparison between the <a href='http://citizenshipsolutions.ca/2015/04/01/renouncing-us-citizenship-how-the-s-877a-exit-tax-may-apply-to-your-canadian-assets-5-parts/'>US 877A Exit Tax</a> and <a href='http://ustaxationabroad.ca/2013/07/31/canadas-departure-tax-vs-the-us-expatriation-tax/'>Canada's Departure tax</a>. (Hamza was a "perma