I am Canadian(naturalized), currently live in US. I have a GC and I will be eligible for naturalization this year I am contemplating if naturalization have any short term or long term advantage over GC. I live in Seattle and I dont see myself living in Seattle after I retire. Canadians who have naturalized could you share your thoughts? 700 13
(1) You will not get kicked out of this country (no matter what you do… and remember the greencard lasts only 10 years and no one knows what changes could be introduced to its renewal). (2) if you travel and lose your travel documents, it is a pain to get a waiver to come back to the us, if you are a citizen just get a new passport within 48 hours. (3) you get to vote (4) you will still be (5) the only downsize would be the global income declaration, but you are paying taxes already, and if you leave for a lower tax higher income country you can always use some tax loopholes or give-up your citizenship.
The Green Card status last forever. That’s why it’s called “permanent” residency. It’s the physical card that needs to be renewed every 10 years. You’re not renewing your status every 10 years.
Nopes, read the provisions. Good standing and permanence are the requirements. The USCIS can refuse renewal and/or unilaterally remove the status within reason, and reasons may change according to the political landscape .
Chances that IRS can figure out your offshore income is lower than we put an ant on mars ! These folks struggle with filing things online you think they are that advance ?
Unless you retire in a gulf country/Singapore, I don’t see any disadvantages of a US citizenship. Only advantages. Every other country has higher taxes than US including Canada, so while you have to declare taxes in US you won’t be paying anything essentially. If you retire before you are eligible for Medicare, medical costs in the US is prohibitive. But Canada has a different problem that although it’s free the years of wait time for any specialist/surgery makes the healthcare completely useless when you need it.
Im exactly the same, I contacted a law firm specializing in international taxes and immigration and was told there are just about 0 benefits for you other than being able to vote. The gc is not going to go away, can you i aging if the 'law changed' and every gc holder was just declared null and void, impossible..
I naturalized when Trump was President, I didn't trust him to kick immigrants out for no reason. I have no intention of moving back to Canada, ever. Taxes and health care are a no go. So.. I'm a dual citizen.
Dual citizen here. I just did it. Didn't think too much of it.
Following: I know that if you are a USA citizen you need to file taxes every year even if you live outside of the country. If you earn above a limit, you need to pay tax to usa government
Yes…that’s a huuge downside. Especially if I move back to Canada eventually(high chance after retirement)
I just googled this for you: Disadvantages to Becoming a U.S. Citizen The picture isn't entirely rosy. Here are some of the down sides of becoming a citizen of the United States. U.S. Citizens Must Pay U.S. Taxes Even on Foreign Income The United States imposes taxes on its citizens for income earned anywhere in the world. If you plan to earn income outside the United States, you need to speak with a tax expert to see how becoming a U.S. citizen might affect you financially. Once you become a U.S. citizen, it's difficult to ever escape your tax liability to the U.S. government, even if you voluntarily give up your citizenship. A green card holder, on the other hand, can give up lawful U.S. residence and not have to worry about filing U.S. tax returns after that. So, if you're thinking that you might eventually move out of the United States (when you retire, for example) to a place with lower taxes, see whether naturalizing makes sense financially.