Sometime in the not-too-distant-past the US Consulate in Hong Kong added and new category to its fee schedule. Costing US$450, 'Renunciation of U.S. Citizenship' is the most expensive of the seven passport related services they perform.
A few years ago I read that many Hong Kong based US citizens were giving it up in advance of stringent new tax and reporting laws. As I understand it, except for North Korea, the US is the only country that taxes its non-resident citizens' income.
I've met two people in HK who have renounced their US citizenship. One is a born and bred white American. He is now a PRC citizen and hold a Hong Kong passport. The other is from Belgium and spent something like 20+ years in the US before moving to Hong Kong several years ago. He now holds an EU passport. Many American citizens I've met and know - both ethnic Chinese as well as other races - that I've met have at least contemplated giving up US citizenship.
In another sign-of-the-times, the consulate is now charging for adding new pages to a passport. It was previously free. And at US$82 the 'increase' is very steep, and not much less than getting an entire new passport.
A few years ago I read that many Hong Kong based US citizens were giving it up in advance of stringent new tax and reporting laws. As I understand it, except for North Korea, the US is the only country that taxes its non-resident citizens' income.
I've met two people in HK who have renounced their US citizenship. One is a born and bred white American. He is now a PRC citizen and hold a Hong Kong passport. The other is from Belgium and spent something like 20+ years in the US before moving to Hong Kong several years ago. He now holds an EU passport. Many American citizens I've met and know - both ethnic Chinese as well as other races - that I've met have at least contemplated giving up US citizenship.In another sign-of-the-times, the consulate is now charging for adding new pages to a passport. It was previously free. And at US$82 the 'increase' is very steep, and not much less than getting an entire new passport.
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