If I obtain Irish citizenship am I allowed to have dual citizenship with my US citizenship?
Is it possible to renounce my US citizenship?
My goal is to move to Dubai and then cash out my bitcoin .
Any advice greatly appreciated.
Stupid siri
Guessing the US govt will get their cut of any profits, regardless.
Go to TomWoods.com. His libertarian podcast/website has numerous interviews with both bitcoin and expat experts.
You have to have a parent that was born in Ireland to have a dual citizenship.
Also proven ancestry to Ireland. Even then, you may be required to give up your American citizenship. I probably wouldn’t choose to live in Dubai, considering the conditions of the world. You may find yourself subject to a Jizya tax in any ME country, no matter how modernized that ME country appears to be at the moment.
I’d probably choose a small town in Europe, where you can just live your business and ignore the politics. The Philippines also is a possibility, unless China seizes the country.
Maybe a few miles out of the city in any one of the states.
Scotland is screaming for citizens to live its barren islands. If I had the money, I’d probably choose to do that. Set up a windmill and solar panel system for power and stay away from civilization.
>> Any advice greatly appreciated.
Stay away from crypto, it’s evil. ;-)
Yer insane! 😆
Good riddance is my only answer. Maybe a 100% tax of gains/profits on the way out.
Then you can move to Dubai.
Much as I hate our government, I've always hated dual citizenship.
The Supreme Court ruled many decades ago that citizenship is a question for other nations to decide. The US cannot tell Ireland (or any other country) who is a Citizen of Ireland. If they recognize you as a citizen, then you are. You can even vote in Irish elections and not lose your US citizenship.
Whether this is a wise choice, and whether this will give you any tax benefits, is and entirely different question. You can renounce your US citizenship but it’s not as easy as it was and with many tax treaties it may not work the way you hope. Not to mention, the USA is the best country on earth. Consult many attorneys and tax experts. You may have an easier life just paying the taxes, stay American, and live as an expat. With Bitcoin or any asset, you can sell just enough to cover your taxes and moving and some time living expenses, then figure out how to handle the rest later.
I don’t know the answer, but maybe you can trade BTC for other assets of equal value without a tax? Would it be a barter? Like a tax exchange? Eg if you traded a house here for a house there of equal value is there any tax implication? Can you do the same with BTC? Or did the laws change in some way?
Why do you want to renounce American citizenship?
Kevin O’Leary.....”Mr. Wonderful”.....has triple citizenship.
In Canada, Ireland, and the United Arab Emirates.
In answer to your original question, Ireland allows dual citizenship, which means that you can become an Irish citizens and remain a citizen of another country.
wy69
I have citizenship rights in the EU. Will I ever pursue it? No chance in hell. I am an American by birth and have no intention of ever giving that up or moving out of the country. Not to mention, I have zero desire to live in Europe. And yes, I’ve been there a number of times.
Renouncing one’s citizenship results in automatic forfeiture of 2nd amendment rights.
Best hurry before the next Bitcoin crash.
The Faroe islands.
CC
There should be no dial citizenship here. Be an American, a tourist, a student, a guest worker, or gtfo.