86. US Citizenship Abroad: The Hidden Costs and Why Some Expats Walk Away

About this episode

The episode discusses the hidden costs of US citizenship for expats and features insights on financial planning and citizenship issues.

For Americans living abroad, US citizenship can come with unexpected restrictions, from banking problems and mortgage issues to business ownership challenges and complex US tax reporting. Richard Taylor, dual UK/US citizen and Chartered Financial Planner at Plan First Wealth, is joined by Dan Brotman, Global Mobility Specialist, and Marko Peck, investment migration advisor, for a conversation on cross border financial planning, expat tax advice, and what it really means to build more options into your life as an expat. Marko shares why he renounced his US citizenship, what the process looked like, and how life changed afterwards. Dan and Marko also explain why citizenship and residency are not the same thing, and how this impacts travelling to the US, travelling globally, and long-term planning for internationally mobile individuals. They also explore international wealth strategy through second passports, including citizenship by descent and citizenship by investment, as well as the growing importance of diversification for expat retirement planning and long-term financial growth. If you are a British expat, an American abroad, or someone thinking about your next move…

People in this episode

Host: Richard Taylor

Guests: Dan Brotman, Marko Peck

Topics covered

• US citizenship abroad
• expat financial planning
• cross-border tax advice
• citizenship and residency
• international wealth strategy
• expat retirement planning

Keywords

• expat
• US citizenship
• financial advice
• tax reporting
• investment migration
• second passports
• citizenship by descent
• citizenship by investment

Sponsors

Plan First Wealth

Mentioned in this episode

Places: US, UK

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