It’s a very challenging time to be a U.S. citizen living outside the United States.
If you are a U.S. citizen living outside the United States you may be finding that your U.S. citizenship is creating big problems in your life.
– the discovery that you are required to file U.S. tax and information (“FBAR”) returns;
– the problem of NOT knowing how to remedy past tax and FBAR omissions and bring yourself in compliance;
– difficulty in finding competent tax and legal professionals, or affording them, even if you could;
– the fear (particularly in Europe) that because you are a U.S. citizen, that FATCA regulations mean banks will exclude you from having a basic bank account;
– the realization that citizenship-based taxation has made it impossible for you to invest in the financial products (mutual funds and retirement plans) that are common retirement vehicles in your country of residence;
– a fear that the IRS reporting requirements dictated by FBAR and FATCA have closed business and employment opportunities for you.
Are you wondering whether it it worth continuing to be a U.S. citizen? Are you considering renouncing your U.S. citizenship? Are you dealing with anger, fear, frustration and uncertainty?
You may need help deciding what to do.
I am a lawyer based in Toronto, Canada. I understand what you are going through. As a dual citizen, I have lived what you are living. I provide a wide range of counseling services to U.S. citizens living abroad and to Green card holders.
Unless you want to return to the United States, your U.S. citizenship will be a “problem to be solved”. You have two choices.
1. Relinquish your U.S. citizenship; or
2. Learn how to live as a U.S. citizen abroad.
Whether you intend to relinquish your U.S. citizenship or remain a U.S. citizen, you will have to solve any past tax problems.
This will require planning in general and a plan of action in particular.
We look forward to helping you achieve that plan of action.
Those who fail to plan, plan to fail!