Over 5,800 Americans Gave Up Citizenship In First Half of 2020, Double Than All Of 2019

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A record number of people are giving up their US citizenship, new research published on Sunday found.

More than 5,800 Americans gave up their citizenship in the first six months of 2020 compared to the 2,072 Americans who renounced their citizenship in all of 2019, according to Bambridge Accountants, a New York-based firm specializing in US expat tax, UK expats, actors and other creatives in the US and the UK.

Despite the risks that come with giving up a US citizenship, Bambridge predicts that the trend will only continue going up.

“A lot of people are waiting for the November election to see what’s going to happen,” he said. “If President Trump is reelected, we believe there will be another wave of people who will decide to renounce their citizenship.”

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Article submitted by, Darkillusion.