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Three of my five grandchildren hold dual citizenships in the US and Germany. With the new tax laws taxing US citizens even if they do not live in the US, do not earn money in the US and do not own any assets in the US which country will they chose?
They can keep their dual citizenship until they become 18 then they must pick a country.
Before 2008 I would have never thought I would even speculate on the choice.
There are thousands of Us citizens that have zero income connections to the US. Yet they will be required to file US tax returns and foreign institutions are required to report to the IRS all accounts and assets held by US citizens.
Surge in Americans Giving Up Passports as Rules Loom - Businessweek
They can keep their dual citizenship until they become 18 then they must pick a country.
Before 2008 I would have never thought I would even speculate on the choice.
There are thousands of Us citizens that have zero income connections to the US. Yet they will be required to file US tax returns and foreign institutions are required to report to the IRS all accounts and assets held by US citizens.
Surge in Americans Giving Up Passports as Rules Loom - Businessweek