Green Card to Citizenship....any downsides??
I have had a Green Card now for over 3 years now and can apply for citizenship next Christmas.
Our plans are to go back to the UK in about 2 yrs to spend some time with our parents as they reach their later years. We will probably live back in the UK for a few years and are concerned about loosing our Green cards when we return to the US. If we apply for citizenship ( therefore becoming dual citizens ) what are the implications tax wise? If i understand correctly we will have to do a tax return every year ( $250 from my man here in NJ ) and if we work in a country where the tax regime is lower than in the US ( Singapore for example) we would have to pay tax here. As the UK has a higher rate of tax than the US I don't see that as an issue. Has anyone gone down this route and are aware of any major issues getting dual citizenship? If we lived in the UK for say 10 yrs could the US take our citizenship ( and medicare ) away from us when we return to the USA? |
Re: Green Card to Citizenship....any downsides??
Once you're a citizen, you're a citizen for life unless you decide to renounce it. The length of time you reside outside the US is irrelevant. You've already covered the tax implications. You'll also need to enter and exit the US on a US passport even if only in transit so it'll be advisable to keep your US passports up to date.
Any children you have outside the US will also be US citizens with the associated benefits and responsibilities (tax returns, passports, Selective Service if male) which wouldn't be a case as green card holders. Having to file tax returns is the one major drawback so if you're happy to do this then it's something to seriously consider if you wish to return to the US or you plan on having children outside the US. |
Re: Green Card to Citizenship....any downsides??
I haven't found anything that offsets the great advantage of citizenship. You can come and go as you please, and stay away as long as you like. With medicare as long as you qualify to receive part A for free, than it will be available to you. You would need to make sure you qualify by the time you are 65.
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Re: Green Card to Citizenship....any downsides??
Originally Posted by industrystandard
(Post 11731000)
If we apply for citizenship ( therefore becoming dual citizens ) what are the implications tax wise? If i understand correctly we will have to do a tax return every year ( $250 from my man here in NJ ) and if we work in a country where the tax regime is lower than in the US ( Singapore for example) we would have to pay tax here. As the UK has a higher rate of tax than the US I don't see that as an issue.
Originally Posted by industrystandard
(Post 11731000)
Has anyone gone down this route and are aware of any major issues getting dual citizenship?
Originally Posted by industrystandard
(Post 11731000)
If we lived in the UK for say 10 yrs could the US take our citizenship ( and medicare ) away from us when we return to the USA?
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Re: Green Card to Citizenship....any downsides??
If you plan to return to the US and work then I would get US citizenship. Spending a long time outside the US might mean that you'd lose the GC.
However, if you plan to live outside the US in future I would not take US citizenship as it will greatly affect your tax and financial life. You will have to file a US tax return and probably a tax return for where you live and make sure the two are compatible. There are rules about how to divide up your taxes. Also many foreign investments will essentially be rules out because of their tax inefficiency in the US. |
Re: Green Card to Citizenship....any downsides??
Pros and Cons to Getting US Citizenship : British Expat Wiki
A little summary in the wiki. The tax thing, you should be doing that anyway, so it isn't much of a change. A large windfall or moving to a tax free country in the future might be reasons to avoid citizenship. |
Re: Green Card to Citizenship....any downsides??
Originally Posted by Bob
(Post 11731051)
The tax thing, you should be doing that anyway, so it isn't much of a change. A large windfall or moving to a tax free country in the future might be reasons to avoid citizenship. |
Re: Green Card to Citizenship....any downsides??
Originally Posted by industrystandard
(Post 11731000)
I have had a Green Card now for over 3 years now and can apply for citizenship next Christmas.
If you are a green card holder of at least 5 years, you must meet the following requirements in order to apply for naturalization: |
Re: Green Card to Citizenship....any downsides??
Originally Posted by McBadger
(Post 11731159)
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Re: Green Card to Citizenship....any downsides??
Originally Posted by industrystandard
(Post 11731000)
I have had a Green Card now for over 3 years now and can apply for citizenship next Christmas.
Our plans are to go back to the UK in about 2 yrs to spend some time with our parents as they reach their later years. We will probably live back in the UK for a few years and are concerned about loosing our Green cards when we return to the US. If we apply for citizenship ( therefore becoming dual citizens ) what are the implications tax wise? If i understand correctly we will have to do a tax return every year ( $250 from my man here in NJ ) and if we work in a country where the tax regime is lower than in the US ( Singapore for example) we would have to pay tax here. As the UK has a higher rate of tax than the US I don't see that as an issue. Has anyone gone down this route and are aware of any major issues getting dual citizenship? If we lived in the UK for say 10 yrs could the US take our citizenship ( and medicare ) away from us when we return to the USA? Also, would you have to continue to file NJ taxes? This is where you have to think about cutting ties with NJ; selling the house, abandoning the driving license, closing out your bank accounts etc. |
Re: Green Card to Citizenship....any downsides??
Originally Posted by robin1234
(Post 11731195)
I assume OP means Christmas 2016, when OP says "next Christmas," since Christmas 2015 is "this Christmas" ?? This would then give us five years..
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Re: Green Card to Citizenship....any downsides??
Originally Posted by MidAtlantic
(Post 11731385)
3 years if married to a USC.
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Re: Green Card to Citizenship....any downsides??
Originally Posted by BritInParis
(Post 11731006)
Once you're a citizen, you're a citizen for life unless you decide to renounce it.
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Re: Green Card to Citizenship....any downsides??
Originally Posted by thinbrit
(Post 11732044)
The OP is not going to lose their citizenship for living back in the UK for a while, but is should be noted that Natural-born U.S. citizens may not have their citizenship revoked against their will. Those of us naturalized, can be denaturalized.
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Re: Green Card to Citizenship....any downsides??
Originally Posted by BritInParis
(Post 11732174)
Sure, if it's demonstrated that the OP committed fraud in his application process or takes up arms against the United States, neither of which are very likely in the normal course of things, which I why I didn't mention it.
You can also be neutralized for refusing to testify before Congress, or having been dishonorably discharged from the military if your citizenship was obtained based on service in the military. |
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