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    Article: Facebook co-founder gives up US citizenship

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    You can run but you can't hide. The IRS still comes after you, I know people that used to have Permanent Residency in the US and lost it when they returned to their home countries and still get chased by the IRS for a number of years.

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    ...not here Dave. We know about it, but when US IRS comes knocking, the door stays closed. Unless the guy returns to the US and asks for citizenship. Then he must cough-up. But that never happens. Or, should I say, its not usual.With Saverin's wealth, he can well choose to go anywhere he likes.Usually these tax havens have everything well covered. That's why the EU is planning rigorous legislation right now to put an end to this practice. As you know the EU has all these little principalities and islands that survive solely on foreign capital (holding and laundering).That's why we're in a crisis in the first place. Bankers...

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    Wirelessly posted (Mozilla/5.0 (compatible; MSIE 9.0; Windows NT 6.1; Trident/5.0; XBLWP7; ZuneWP7))

    I wouldn't renounce my citizenship because it is something that I value. Even if I were to move to another country and become a citizen of that country, I would still want dual citizenship.
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    I hold dual citizenship, US/UK wouldn't want to renounce either and it is unlikely that the 2 countries would ever (in my lifetime) go to war again, the advantage is that I can work in Europe, UK and US without worries about Work Permits, plus I am working in Canada on a WP. Tax forms are a nightmare!! I think anyone that is so into money that they would renounce their US citizenship is beyond disgusting, when you look at the amount of money he has from Facebook, it is beyond belief that he does not want to pay tax to that extent. America is in need of all the income it can get. Whilst Singapore is a beautiful Island full of lovely people and great food, it is still small, I think he will miss the US, but then with the money he has anywhere is good to live.
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    Quote Originally Posted by delfim View Post
    ...not here Dave. We know about it, but when US IRS comes knocking, the door stays closed. Unless the guy returns to the US and asks for citizenship. Then he must cough-up. But that never happens. Or, should I say, its not usual.With Saverin's wealth, he can well choose to go anywhere he likes.Usually these tax havens have everything well covered. That's why the EU is planning rigorous legislation right now to put an end to this practice. As you know the EU has all these little principalities and islands that survive solely on foreign capital (holding and laundering).That's why we're in a crisis in the first place. Bankers...
    You have a point and I am sure any country will welcome him with open arms with the amount of money he will be bringing in.
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    Quote Originally Posted by lak611 View Post
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    I wouldn't renounce my citizenship because it is something that I value. Even if I were to move to another country and become a citizen of that country, I would still want dual citizenship.
    It's something everyone values, regardless of their country of origin. Did Saverin renounce his Brazilian citizenship ? I doubt it.
    Singapore (it could have been Madeira, Gibraltar, Monaco, San Marino, Luxembourg, Liechtenstein to name a few in Europe) would welcome him with open arms. But with pending legislation that will penalize these havens, Europe wouldn't be in his sights.

    And Brazil will take him back, anytime. It's just that he's protecting his Made in the US dollars and doesn't want to share it with anyone. But Zuckerberg is probably on the same boat... tax havens. What's the fuss? Look at what Apple does.

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    Quote Originally Posted by delfim View Post
    It's something everyone values, regardless of their country of origin. Did Saverin renounce his Brazilian citizenship ? I doubt it.
    Singapore (it could have been Madeira, Gibraltar, Monaco, San Marino, Luxembourg, Liechtenstein to name a few in Europe) would welcome him with open arms. But with pending legislation that will penalize these havens, Europe wouldn't be in his sights.

    And Brazil will take him back, anytime. It's just that he's protecting his Made in the US dollars and doesn't want to share it with anyone. But Zuckerberg is probably on the same boat... tax havens. What's the fuss? Look at what Apple does.
    I suppose the fuss is what is right and what is wrong at least to me it is, I abhor what Apple or any other corporation does to avoid paying taxes, while I personally do not like paying taxes I understand that the country has to get money from somewhere to pay for the various things that make the country worth living in. I agree that politicians may not manage this money as well as they should but then that is something that needs to be decided for or against when you vote.

    When you state Saverin had Brazilian citizenship one has to wonder if he had to renounce that to become a US citizen, it is only in recent years that America has allowed for dual citizenship and there are a large number of countries that do not allow it, even if he did not renounce it, he either became an American by birth or by taking up US citizenship, either way he has benefited in one way or another by living in the US, education, possible scholarships, etc, now when he has the opportunity to give back he decides to leave. Fine that is his choice but it is not a choice that I respect or condone.
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    Quote Originally Posted by dushdavj View Post
    ... it is only in recent years that America has allowed for dual citizenship and there are a large number of countries that do not allow it, even if he did not renounce it, he either became an American by birth or by taking up US citizenship, either way he has benefited in one way or another by living in the US, education, possible scholarships, etc, now when he has the opportunity to give back he decides to leave. Fine that is his choice but it is not a choice that I respect or condone.
    I have a lot of friends in the US that didn't have that choice. The rule was, become a US citizen, renounce your country of birth, and you're welcome to stay...

    I think the guy could have done his shenanigans without renouncing citizenship. I find that repugnant myself.
    But given the fact of what I say above, at the time, was he given a choice?
    As an immigrant in South Africa for 34 years (I studied, worked and paid my taxes) I was never forced into that situation. Nice folks the Afrikaners...

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    What a douche.

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    Quote Originally Posted by delfim View Post
    I have a lot of friends in the US that didn't have that choice. The rule was, become a US citizen, renounce your country of birth, and you're welcome to stay...

    I think the guy could have done his shenanigans without renouncing citizenship. I find that repugnant myself.
    But given the fact of what I say above, at the time, was he given a choice?
    As an immigrant in South Africa for 34 years (I studied, worked and paid my taxes) I was never forced into that situation. Nice folks the Afrikaners...
    Although an oath of allegiance to the US is required for a person from another country to become a US citizen, one does not have to give up his other citizenship. http://travel.state.gov/travel/cis_p.../cis_1753.html
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    Anyone who willingly gives up their U.S citizenship we don't want here anyway.
    Doing it for $ proves they don't have what it takes to be a citizen. If it was over some moral belief or one of the many legitimate reasons that's fine but money proves he never had what it takes to be a real US citizen anyway.

    He's now a shinning example of what's wrong with humanity.

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    Quote Originally Posted by srl7741 View Post
    Anyone who willingly gives up their U.S citizenship we don't want here anyway.
    Doing it for $ proves they don't have what it takes to be a citizen. If it was over some moral belief or one of the many legitimate reasons that's fine but money proves he never had what it takes to be a real US citizen anyway.

    He's now a shinning example of what's wrong with humanity.
    I totally agree!

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    It is true that it is possible to hold dual citizenship in the US, but this is a recent change....when you state your pledge of allegiance it is to the US first and when you work overseas you are still responsible for US taxes. If Saverin is truly being accepted for Singapore citizenship which is not normally a simple process then he will be expected to renounce all other citizenship as you can only hold Singapore citizenship and no other. Greed is ugly and he is a prime example
    Love is better than anger. Hope is better than fear. Optimism is better than despair. So let us be loving, hopeful, and optimistic. And we will change the world. - Jack Layton (1950-2011)
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    Quote Originally Posted by srl7741
    Anyone who willingly gives up their U.S citizenship we don't want here anyway.
    Doing it for $ proves they don't have what it takes to be a citizen. If it was over some moral belief or one of the many legitimate reasons that's fine but money proves he never had what it takes to be a real US citizen anyway.

    He's now a shinning example of what's wrong with humanity.
    You are spot-on.
    Last edited by lak611; 05-12-2012 at 02:18 AM.
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