FrankRF2

Hi,

Having finally ground my way through the INS system I have a green
card and can apply for citizenship in two years.

When I apply, can I keep my existing UK citizenship?

What are the pros and cons of doing so?

It seems like a good idea as I could live in either country for up to
12 months.

Thanks in advance.

--

Regards,
Frank R Firestone II

Rete

Yes you can. The one disadvantage is that as a USC you have to file tax returns for any monies you earned outside of the US if you decide to live in another country for a year or more.

Rete

Sufaud

    > > Having finally ground my way through the INS system I have a green
    > > card and can apply for citizenship in two years.
    > > When I apply, can I keep my existing UK citizenship?
    > > What are the pros and cons of doing so?
    > > It seems like a good idea as I could live in either country for up to
    > > 12 months.

See:
http://tinyurl.com/vb4q
or
http://www.access.gpo.gov/congress/joint/jcs-2-03/

REVIEW OF THE PRESENT-LAW TAX AND IMMIGRATION
TREATMENT OF RELINQUISHMENT OF CITIZENSHIP AND
TERMINATION OF LONG-TERM RESIDENCY

By the Staff of the Joint Committee on Taxation
February 2003
JCS-2-03

FrankRF2

On Sun, 16 Nov 2003 18:02:35 +0000, Rete <member@british_expats.com>
wrote:

    >>Yes you can. The one disadvantage is that as a USC you have to file tax
    >>returns for any monies you earned outside of the US if you decide to
    >>live in another country for a year or more.

Thanks guys,

I already pay taxes in both places. I have some investements in the UK
and taxed there as a non-resident citizen, the irs gives me a break on
those taxes paid but I still have to declare the total here and there
and cough up accordingly.

If that's the only disadvantage then I guess I will have dual
citizenship as nothing will change as I see it.

Death and Taxes, sigh!! <g>


--

Regards,
Frank R Firestone II

Mayo

You don't really pay taxes on both places now as you describe it, only
pay taxes in UK on UK investments, it appears that UK does not taxes
income of citizens unless it is UK income.(That is standard for many
countries)

As a US citizen you will be taxed in worldwide income, even if you
leave the US, stay out 30 years and not leave a single cent in US
soil. (There is an exemption for I belive the first 100k of income if
you are less than 30 or 31 days in US per year)

Some people come from countris where visas are frequently required for
travel, so acquiring US passport is very desirable, that is not the
case for UK people (they can travel visa less almost everywhere)

Some people consider US passports riskier (terrorist hate americans),
now UK seems to be on similar boat but that may change - another thing
to consider

Finally, you said you will apply in 2 years. I just want to clarify
that the requirement is 5 years with GC living in US, and 3 if married
to a Citizen. In either case you can file 3 months before the 3/5 year
mark (Of course you may only have 2 years to go) (Also there are other
requirements specifying maximum absences from US, which are different
than the ones to maintain GC, I don't remeber them now)

Sufaud

[email protected] (Mayo) wrote in message news:<[email protected]. com>...

    > You don't really pay taxes on both places now as you describe it, only
    > pay taxes in UK on UK investments, it appears that UK does not taxes
    > income of citizens unless it is UK income.(That is standard for many
    > countries)

The UK has three concepts that few outsiders understand; any one of
them can subject a person to taxation:

residence (obvious)

ordinary residence (generally -- and oversimplified -- intent to
remain resident for three years; otherwise factual residence for that
period)

domicile (defined quite differently from the USA)

Sometimes the tax treaty will resolve conflicts. Sometimes not,
especially when a taxpayer is factually resident in both countries.

A curious case involving double taxation in France and Canada, with
apparently little or no treaty relief because of dual residence, is
http://decision.tcc-cci.gc.ca/en/199...tcc954210.html

"Since 1988, the appellant has worked in France for the company G.M.T.
S.A. His income has already been taxed by the French government.
However, his wife and his children live in Canada. There are various
points in favour of the respondent's argument and also that of the
appellant. In fact, the appellant holds dual nationality, Canadian and
French, and has dual residency."

Especially in the USA, and even more especially in the context of
Alternative Minimum Tax, unrelieved double taxation is common. And for
ten years, until the latest US-Canada Protocol was ratified,
decedents' estates were taxed twice: for deemed capital gains by
Canada and for death duty (inheritance or estate tax) by the US.

Finally, there is no relief for double taxation by certain US states,
notoriously California, which are not bound by any federal tax treaty.

Hope that helps.

Sufaud

[email protected] (Mayo) wrote in message news:<[email protected]. com>...

    > Finally, you said you will apply in 2 years. I just want to clarify
    > that the requirement is 5 years with GC living in US, and 3 if married
    > to a Citizen. In either case you can file 3 months before the 3/5 year
    > mark (Of course you may only have 2 years to go) (Also there are other
    > requirements specifying maximum absences from US, which are different
    > than the ones to maintain GC, I don't remeber them now)

But see: 8 U.S.C. sec. 1430(b)
http://www4.law.cornell.edu/uscode/8/1430.html
"... may be naturalized upon compliance with all the requirements of
the naturalization laws, except that no prior residence or specified
period of physical presence within the United States or within a State
or a district of the Service in the United States or proof thereof
shall be required."

FrankRF2

On 17 Nov 2003 13:45:06 -0800, [email protected] (Mayo) wrote:

    >>You don't really pay taxes on both places now as you describe it, only

Is that so??? DOH!


--

Regards,
Frank R Firestone II

Mayo

[email protected] wrote in message news:<[email protected]>. ..
    > On 17 Nov 2003 13:45:06 -0800, [email protected] (Mayo) wrote:
    >
    > >>You don't really pay taxes on both places now as you describe it, only
    >
    > Is that so??? DOH!

This is a site in which people volunteer their time to answer
questions, you may not like the answer but there is no need to be
sarcastic, my answer was not offensive (i.e., not like fxxk immigrants
thread) so there was no need to attack me. It simply explained what I
consider the implications of becoming a US citizen

I was trying to make the point that while the UK does not appear to
tax citizens who are not residents, the US does. That is an
implication of becoming a US citizen, which relates to your question.

I wish you good luck with your application for Citizenship and a
speedy processing. Needless to say I will not be responding to any
future questions you may have since you do not appreciate the effort