Posted on 04/01/2024 9:52:34 PM PDT by NoLibZone
If I obtain Irish citizenship am I allowed to have dulces ship with my US citizenship? Is it possible to announce my US citizenship?
My goal is to move to Dubai and then cash out my bitcoin .
Any advice greatly appreciated.
If I obtain Irish citizenship am I allowed to have dual citizenship with my US citizenship?
Is it possible to renounce my US citizenship?
My goal is to move to Dubai and then cash out my bitcoin .
Any advice greatly appreciated.
Stupid siri
Guessing the US govt will get their cut of any profits, regardless.
Go to TomWoods.com. His libertarian podcast/website has numerous interviews with both bitcoin and expat experts.
You have to have a parent that was born in Ireland to have a dual citizenship.
Also proven ancestry to Ireland. Even then, you may be required to give up your American citizenship. I probably wouldn’t choose to live in Dubai, considering the conditions of the world. You may find yourself subject to a Jizya tax in any ME country, no matter how modernized that ME country appears to be at the moment.
I’d probably choose a small town in Europe, where you can just live your business and ignore the politics. The Philippines also is a possibility, unless China seizes the country.
Maybe a few miles out of the city in any one of the states.
Scotland is screaming for citizens to live its barren islands. If I had the money, I’d probably choose to do that. Set up a windmill and solar panel system for power and stay away from civilization.
Weren’t the COVID restrictions in the UK even more disgusting than in the US?
>> Any advice greatly appreciated.
Stay away from crypto, it’s evil. ;-)
Yer insane! 😆
Good riddance is my only answer. Maybe a 100% tax of gains/profits on the way out.
Then you can move to Dubai.
Probably, but how would GB enforce those restrictions on a Northern Scottish loch that you need to boat to get to?
Much as I hate our government, I've always hated dual citizenship.
Dubai is probably more stable than the U.S. right now.
Long term, I'll say the U.S. because of our constitution and history. But we'll see how long that is going to last.
The Supreme Court ruled many decades ago that citizenship is a question for other nations to decide. The US cannot tell Ireland (or any other country) who is a Citizen of Ireland. If they recognize you as a citizen, then you are. You can even vote in Irish elections and not lose your US citizenship.
Whether this is a wise choice, and whether this will give you any tax benefits, is and entirely different question. You can renounce your US citizenship but it’s not as easy as it was and with many tax treaties it may not work the way you hope. Not to mention, the USA is the best country on earth. Consult many attorneys and tax experts. You may have an easier life just paying the taxes, stay American, and live as an expat. With Bitcoin or any asset, you can sell just enough to cover your taxes and moving and some time living expenses, then figure out how to handle the rest later.
I don’t know the answer, but maybe you can trade BTC for other assets of equal value without a tax? Would it be a barter? Like a tax exchange? Eg if you traded a house here for a house there of equal value is there any tax implication? Can you do the same with BTC? Or did the laws change in some way?
Yes to both. I am assuming of course that you have Irish ancestry that qualifies you for Irish citizenship. Keep in mind that to renounce US citizenship, you must be current on all income taxes. Also, there may be more attractive tax havens than Dubai.
Yes.
Goodbye.
Why do you want to renounce American citizenship?
Kevin O’Leary.....”Mr. Wonderful”.....has triple citizenship.
In Canada, Ireland, and the United Arab Emirates.
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