The number of Americans looking to give up their permanent residence is on the rise: however, in September 2014, the cost of this rose from $450 to $2,350. In addition to paying the new fee, people wishing to leave the United States behind will need to go in person, overseas before an American diplomatic officer can sign an oath of renunciation.
The State Department has stressed there is no going back – people must be committed to leave their citizenship behind.
Officials say the new pricetag of $2,350 will “capture the real, unsubsidized cost of providing this service” at a time when escalating demand has put new strain on consular resources. The government does not make public any reasons citizens may have given for renouncing U.S. citizenship, making it impossible to say for certain what has driven the sharp rise in demand. But the most likely cause appears to be the Obama-era crackdown on U.S. citizens hiding wealth overseas.
Read the full article here: Source: Daily Mail