An increasing number of Americans living in Switzerland are renouncing their citizenship as a result of ever intrusive demands from the tax authorities in their “home” country.
The US embassy to Switzerland told swissinfo.ch that it had processed 411 renunciations in the first nine months of this year. This compares to 180 Americans giving up their passports in 2011.
While the number of Americans that turn in their passports is a small fraction of the estimated 35,000 to 40,000 US citizens living in Switzerland, the rise in such renunciations is causing concern for US ambassador Donald Beyer.
“At the moment this phenomenon is bigger in Switzerland than anywhere else in the world,” Beyer told the Handelszeitung newspaper. “US passports are becoming less attractive due to the implementation of stricter US laws.” Full story...
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The US embassy to Switzerland told swissinfo.ch that it had processed 411 renunciations in the first nine months of this year. This compares to 180 Americans giving up their passports in 2011.
While the number of Americans that turn in their passports is a small fraction of the estimated 35,000 to 40,000 US citizens living in Switzerland, the rise in such renunciations is causing concern for US ambassador Donald Beyer.
“At the moment this phenomenon is bigger in Switzerland than anywhere else in the world,” Beyer told the Handelszeitung newspaper. “US passports are becoming less attractive due to the implementation of stricter US laws.” Full story...
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- 15 reasons why I choose not to live in the USSA...
- US may target Swiss bankers travelling in Europe...
- Why I'm leaving America...
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