Is it worth to be Naturalized vs just Permanent Resident?
Dec 29, 2019
32 Comments
Are there any benefits to being naturalized vs just a permanent resident as a SWE in the US?
Are there any benefits to being naturalized vs just a permanent resident as a SWE in the US?
comments
As a permanent resident, you have no legal right to reside in the USA if the USA doesn't want you. As a US citizen, that right cannot be taken away no matter what.
1- Are you planning to retire in the US? If so then why not.
2- What is your other passport? If you don't plan to retire in the US then carefully consider the US Citizenship because worldwide income taxation while living abroad is a hell. (read about fatca, PFICs, fbar, double taxation even with a tax treaty, shadow capital gains on real estate etc).
3- how long do you intend to keep the green card? If 8 or more years out of the last 15 And net worth > 2M then you will be a covered expatriate and subject to the exit tax. Being a citizen MAY help you in that case.
4- whatch the irs medic youtube channel, he has a few videos about green card holders.
5- do you have or plan to have kids? Careful about the estate taxes and double taxation.
I have done a lot of research on this, and being from a top tier passport country, I have made peace with the fact that getting us citizenship would be a liability in my case and will not apply for it.
The US passport is an OK passport travel wise, but the rest is trash. Nomad Capitalists ranks it around 30th in the world, just because of the compliance and cost of taxation.
PM me if you have any questions
I am only putting money into a 401k up to the match, doing roth. And will take everything out when leaving.
Most of my assets are in a brokerage account which I will pay 0% as my next country will not tax cap gains.
I struggled with figuring out if I should max the 401k and then leave it here. But upon reading a lot, it just is too hard to maintain, file and hope that your broker respects tax treaties witholding rates. Not worth it.
So again, if you intend to retire in the US, sure. Otherwise meh