Renouncing US citizenship is always a sensitive subject, followed by lots of myths and misconceptions.
There are certainly many advantages to it, but also some downsides, depending on individual cases.
The biggest and most obvious benefits of renouncing citizenship of the United States are tax-related. Also, you would have more freedom to go and do business offshore, but you would still be able to bank in the US, even if you're not their citizen anymore.
On the other hand, you will no longer have access to the US job market and you'll most probably need a visa to travel to the States, so think about your options carefully and be prepared for this change.
ABOUT NOMAD CAPITALIST
Andrew Henderson is the world's most sought-after consultant on legal offshore tax reduction, investment immigration, and global citizenship. He works exclusively with six- and seven-figure entrepreneurs and investors who want to "go where they're treated best".
Work with Andrew: https://nomadcapitalist.com/apply/
Andrew has spent the last 11 years studying and personally implementing the Nomad Capitalist lifestyle, and has started offshore companies, opened offshore bank accounts, obtained multiple second passports, and purchased real estate in a total of 20 countries.
He has also spent years creating a behavior-based system that helps people get the results they want faster and with less resistance. Andrew believes that everyone can use offshore strategies to keep more of their own money, live a life of freedom, and grow their wealth faster.
About Andrew: https://nomadcapitalist.com/about/andrew-henderson/
Our website: https://www.nomadcapitalist.com
Buy Andrew's book: https://amzn.to/2QKQqR0
DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.