Author: George Evans

Why Rich Americans Are Increasingly Looking for a Second Passport

This domicile tax requirement is one of the reasons why a lot of rich people renounce their U.S. citizenship when they move abroad. Since they live and work in these new countries without any ties to the United States, they are not tied to its tax regime. Countries like Bulgaria, Czech Republic and Malta have lower personal income and business tax rates than most states in USA. 

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