Thai is the best nationality there is!" Former American pays through the nose to renounce US citizenship

[spidermike007]

I believe the US does not allow dual citizenship anymore? And yes they make it expensive to renounce your citizenship. Many people of wealth are doing it due to taxation reasons. The US seems paranoid about losing citizens. 

[holy cow cm]

9 hours ago, Chelseafan said:

Wow OK. So can they do that to their own people ? If so what happens as I thought UN charters do not allow people to be stateless.

 

For one, he is not their own people.

[tropo]

19 hours ago, zydeco said:

This doesn't let him off the hook with the IRS.

That would be totally irrelevant because he's lived in Thailand since the age of 2.

 

He must be doing OK in Thailand to have 72,000 baht to basically throw down the toilet on an unnecessary document.

Edited February 29, 2020 by tropo

[bangkoken]

Not a very intelligent decision. He could have saved the 70,000 THB plus and just lived with a dual citizenship. No problems, no strings. This guy has shown himself to be the perfect example (poster boy) of the Thai school system. Not sure I understand why this deserved front row space on Thaivisa.

[johnhw]

On 2/28/2020 at 3:16 PM, thequietman said:

KInda makes me wanna put my fingers down my throat and throw up!

 

He didn't have to actually denounce his American citizenship. One can only assume that he has been indoctrinated much like most of the Thai's I know. Scary. ????

 

comments like yours make ME wanna belch and ram a rag down YOUR throat, much like too many of the indoctrinated ignoramus parrots I know hang out here.

[holy cow cm]

1 hour ago, Sujo said:

A person cannot be left stateless. If he kept his US citizenship then he could be stripped of thai citizenship and deported. The UN and ICJ already ruled on this.

Good luck to that theory. There are many camps in Thailand that he can be detained in. He would then need to apply for refugee status for another country.

[forqalso]

19 hours ago, Andrew65 said:

I think it does, if he's no longer a US citizen. Not mentioned in the article.

There’s a form he’ll have to submit, saying he’s been tax compliant for the past five years, then he is no longer a US tax payer; as long as he has no income from US sources. 

[AussieBob18]

So much for having a Plan B. The reality is clearly that he did not need to do this and it was a symbolic act - perhaps there was some local issue about him being a US citizen because he was born there.  However, if that what it takes to make him happy, then good for him - that's a serious commitment. 

[Leef]

19 hours ago, Chrysaora said:

You're incorrect, as it shows nothing of the sort.   Your conclusion is not logical.

Actually he is correct. By getting rid of his American citizenship he’s no longer liable  for U.S tax. Boris Johnson did the same.

https://www.google.com.hk/amp/s/www.forbes.com/sites/robertwood/2017/02/09/brit-boris-johnson-renounces-america-why-we-should-care/amp/

 

[rwill]

19 minutes ago, spidermike007 said:

I believe the US does not allow dual citizenship anymore? And yes they make it expensive to renounce your citizenship. Many people of wealth are doing it due to taxation reasons. The US seems paranoid about losing citizens. 

I have a friend that just got US citizenship.  She did not have to give up her Thai passport.  When my wife became a US citizen around 30 years ago she had to give them her Thai passport.

[TheFishman1]

He lived here since he was 2 yrs old if you stay here that long You go absolutely crazy need I say more TIT

[thequietman]

18 minutes ago, johnhw said:

comments like yours make ME wanna belch and ram a rag down YOUR throat, much like too many of the indoctrinated ignoramus parrots I know hang out here.

Can we assume that you are not a Yank? Obviously, not a Brit! So ........ what nationality are you? Ah, did you get citizenship for here? ????

[NotYourBusiness]

18 hours ago, holy cow cm said:

OH BS. Expats are exempt from taxes up to the limit of $102k and long as you are physically in another country for 330 days or not be in the US for over 35 days.. But Social Security of 13% needs top be paid, but then again that is for retirement and Medicare. 

The tax treaty exclusion only covers SALARY income, ie. working for a company. If you are self employed you need to keep all business records and file a complete return and pay all taxes, even if you don't live or do any business in USSA.

 

And you forgot the biggest potential problem of all: FBAR. You need to declare EVERY bank account if the combined balance of all your foreign accounts exceeds $10K at any time during the year. And no method to go back to previous years and amend a filing or lack thereof. Penalties are 50% of the maximum balance, every year.

 

There are horror stories, ie. one unfortunate guy had $1.1M in an offshore account. This money was legally earned, and taxes paid. There was no question about money laundering or any other question about the legality of the money. But he didn't fill out the needed form. The penalty was $1.5M. In other words, they took ALL the money and then he still owed even more. All because he didn't know to fill out a form.

 

US expats (and green card holders), do a search on "FBAR". If you don't know about it, no way to go back and submit previous years. If the IRS finds out about your account, you are royally up the creek. 

 

 

Edited February 29, 2020 by NotYourBusiness

[chilli42]

19 hours ago, zydeco said:

This doesn't let him off the hook with the IRS.

That’s right.  Ten more years of filing a US tax return ... assuming he cares anything about what the IRS thinks/does.  I gave my US citizenship up because of tax and that I had two other perfectly good citizenships.  I would never have done that if my only recourse was a Thai citizenship.

[hotchilli]

20 hours ago, webfact said:

after living most of his life in Thailand has wasted no time in renouncing his US citizenship. 

 

And he has now paid more than 70,000 baht for the privilege. 

An oxy-moron if ever I read one!

[Hank Gunn]

5 minutes ago, rwill said:

I have a friend that just got US citizenship.  She did not have to give up her Thai passport.  When my wife became a US citizen around 30 years ago she had to give them her Thai passport.

Same for my wife (moved to the US in '07 and became a naturalized US citizen five yrs. later, after having gotten her "green card" (PR status) less than a yr. after arriving). No problems retaining her Thai passport (which she uses to re-enter Thailand after we travel abroad). Her US passport makes it so easy to travel back to the US and to the myriad of other countries that have a visa on arrival policy for US citizens.

[cmrichsw]

Up to you as the Thai's say

[baz69er]

19 hours ago, holy cow cm said:

Now he better hope he doesn't get trumped up on a false charge or some bad luck mistake and have his Thai citizenship taken away. Then what will he do? Just because he can get it doesn't mean they can't take it away.

I was thinking the same, thailand is great until you get on the wrong side of the law or have an accident etc, thai citizenship or not he's still going to be looked upon as a Farang who speaks good Thai, but to be fair if he's lived here since the age of two then you can hardly blame him, good luck to him......

[NotYourBusiness]

4 minutes ago, chilli42 said:

That’s right.  Ten more years of filing a US tax return ... assuming he cares anything about what the IRS thinks/does.  I gave my US citizenship up because of tax and that I had two other perfectly good citizenships.  I would never have done that if my only recourse was a Thai citizenship.

I think that is for "covered" expats, ie. expats over a certain net worth at the time of renouncing. I think $2.5M but not sure. Lower than that and you are DONE filling out tax returns after correctly renouncing.

[Andrew Dwyer]

I believe IIRC from another thread on Udom that to obtain Thai citizenship he had to sign a letter of intent to renounce his US citizenship but the consensus was he didn’t have to actually go through with it ?

 

Either way, the guy did wanted to do for a long time and I am personally happy for him .

[baz69er]

Just now, baz69er said:

I was thinking the same, thailand is great until you get on the wrong side of the law or have an accident etc, thai citizenship or not he's still going to be looked upon as a Farang who speaks good Thai, but to be fair if he's lived here since the age of two then you can hardly blame him, good luck to him......

 

[NotYourBusiness]

13 minutes ago, Hank Gunn said:

Same for my wife (moved to the US in '07 and became a naturalized US citizen five yrs. later, after having gotten her "green card" (PR status) less than a yr. after arriving). No problems retaining her Thai passport (which she uses to re-enter Thailand after we travel abroad). Her US passport makes it so easy to travel back to the US and to the myriad of other countries that have a visa on arrival policy for US citizens.

Great, and hope you are doing your FBAR's.

[chainarong]

There is one born every minute, to each his own I suppose and one always makes decisions based merit and without rose coloured glasses.

[SupermarineS6B]

That was a big long lick ........Mmmmmm.......Butt !  

[Accidental Tourist]

There where always naive people in this world...Good luck and all the best.

[Hank Gunn]

4 minutes ago, NotYourBusiness said:

Great, and hope you are doing your FBAR's.

Yup, do it every year with my taxes (almost all of my money is still in the US (S&P 500 up over 40% last yr) so I pay taxes on any cap. gains, interest, and dividend income). Takes about 1 min. to write out the bank name, acct. numbers and balance. Much simpler than my tax returns actually.

[T Lee]

16 hours ago, lemonjelly said:

Does he really think all this nationalist nonsense will get him anywhere? He’s just proved he is as daft as he looks; anyone in standing won’t have time for the clown.

Nationalist nonsense?  Oh, dear, I think you may have come down with a spot of it yourself!

[Sonhia]

He will soon change his mind.

 

He forgets one think, he is not Thai born. A big disadvantage.

 

Good luck creep!!

[Iron Tongue]

Wonder how long before he gets drafted.

[David T Pike]

He better be happy with his decision because needless to say, he'll never get back his US citizenship again!