Wednesday, February 10, 2016

Why expat Americans are giving up their passports...

How does it feel to give up your nationality, to renounce the country you were born in, potentially forfeiting the chance to ever return?

"It's not going to be easy at all. It's the last thing I ever thought of doing," Jane tells me when I meet her in a Paris cafe.

Her voice cracks and her eyes well up. She is in the process of relinquishing her American nationality. Soon she'll visit the US embassy formally to renounce her citizenship, she says, under duress.

"I'm very proud of being an American. It's what I am when I look in the mirror.

"If it weren't for Fatca [the Foreign Account Tax Compliance Act] and the decision by the bank, I'd never be doing this. Never ever. It's just breaking me in half." Full story...

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