I’m not very familiar with investment options in the UK, but there are of course many investment options in the US. I believe that being a citizen of the US helps a fair bit for some of these options.
My impression is that getting full citizenship of both the US and the UK is generally extremely difficult, I imagine ever changing your mind would be quite a challenge.
One really nice benefit of having both citizenship is that it gives you a lot of flexibility. If either country suddenly becomes much more preferable for some reason or another (imagine some tail risk, like a political disaster of some sort), you have the option of easily going to the other.
You also need account for how the US might treat you if you do renounce citizenship. My impression is that they can be quite unfavorable to those who do this (particularly if they think it’s for tax reasons); both by coming at these people for assets, making it difficult to come back to the US for any reason, or other things.
I would be very hesitant to renounce citizenship of either, until you really do a fair amount of research on the cons of the matter.
I don’t have significant assets so I would only have to pay a $2,350 renunciation fee (this obviously still isn’t great but in the grand scheme of things it’s not that bad).
I’m not very familiar with investment options in the UK, but there are of course many investment options in the US. I believe that being a citizen of the US helps a fair bit for some of these options.
My impression is that getting full citizenship of both the US and the UK is generally extremely difficult, I imagine ever changing your mind would be quite a challenge.
One really nice benefit of having both citizenship is that it gives you a lot of flexibility. If either country suddenly becomes much more preferable for some reason or another (imagine some tail risk, like a political disaster of some sort), you have the option of easily going to the other.
You also need account for how the US might treat you if you do renounce citizenship. My impression is that they can be quite unfavorable to those who do this (particularly if they think it’s for tax reasons); both by coming at these people for assets, making it difficult to come back to the US for any reason, or other things.
I would be very hesitant to renounce citizenship of either, until you really do a fair amount of research on the cons of the matter.
https://foreignpolicy.com/2012/05/17/could-eduardo-saverin-be-barred-from-the-u-s-for-life/
Thanks. I will look at US investment options.
I don’t have significant assets so I would only have to pay a $2,350 renunciation fee (this obviously still isn’t great but in the grand scheme of things it’s not that bad).