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Sunday, April 24, 2016

land of opportunity no more (2)

U.S. Raises Fee To Expatriate By 422% A Second Time
When the news broke a year ago that the U.S. was hiking the fee to renounce U.S. citizenship by 422% there was a backlash. If anything, the uptick in American expatriations grew rather than declined. The U.S. State Department said raising the fee for renunciation of U.S. citizenship is about demand and paperwork. Perhaps, but a hike from $450 to $2,350 is still steep. That is more than twenty times the average level in other high-income countries. The State Department complains about demand on their services and all the extra workload they have to process people who are on their way out.

Even worse, for the second time in a year, the State Department just did another hike. You can view it as yet another 422%. In fairness, the State Department presumably believes it is just bringing the fees into parity. Up until now, there was the enhanced $2,350 fee for renouncing, and a smaller $450 fee for relinquishment. It may be a distinction without a difference. As the State Department put it, it was just harmonizing the two, which are similar in any case. In short, it the fee is now the same $2,350 whether you are renouncing or relinquishing.
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