Second Passports for a US Male Expat

Nowadays, there’s much talk on obtaining a “second passport” worldwide, but more so for US citizens. Some might blame the recent economy slump for more and more individuals to be interested in the subject. Still, we do know that though much remains unpublished, getting “second passports” have been a trend to a select few who are willing to place hefty investments in other countries.

There are two most obvious reasons why expatriates opt for dual citizenship:

First reason would be due to a need for a higher quality of life. Most US Expats choose to stay in other “tax haven” countries since the opportunities are vast and cost of living is very low. Second, and probably the major reason would be to escape tax obligations in the US. It is common knowledge that the United States continue to levy taxes to its citizens as long as they renew their US passports. Such being the case, a lot of US male expats get the most out of Banking, Finance and Business Investments when they do so in foreign tax-free countries.

Second, and probably the major reason would be to escape tax obligations in the US. It is common knowledge that the United States continue to levy taxes to its citizens as long as they renew their US passports. Such being the case, a lot of US male expats get the most out of Banking, Finance and Business Investments when they do so in foreign tax-free countries.

Question now is, will the IRS who have been tracking “tax dodgers” over the years let this tax avoidance issues happen for long? Well, for as long as there is no law against having dual citizenship, and also no law against traveling on “second or even third passports”, then aspiring US male expatriates need not worry.

Their second country of choice also gets benefits through the local economy and jobs generated anyways, creating a win-win situation for both the expat and the host country. So then, who’s there left to complain?

Pia Garcia is a non-profit article writer and likes to share her views on second passports at this website about trust and second passports.

Article Source:
http://EzineArticles.com/?expert=Pia_Garcia

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