
Renouncing U.S. Citizenship in 2025: A New Identity, a New Future
VANCOUVER, BRITISH COLUMBIA – Amid growing global tensions, increasing taxation, and sweeping digital surveillance policies, more Americans than ever are choosing to renounce their U.S. citizenship and start over—legally, securely, and discreetly—with new identities.
Amicus International Consulting , a world leader in second passport and identity transformation services, reports an unprecedented rise in demand for citizenship renunciation and new identity planning services in 2025.
This press release provides an in-depth look at the motivations behind this dramatic shift, the intricate process of legal renunciation, the consequences of staying tethered to the U.S. tax regime, and the roadmap to personal sovereignty.
📉 The Changing Value of the U.S. Passport
For decades, the U.S. passport has been a symbol of global mobility and national pride. But for many, particularly expatriates and high-net-worth individuals, it has become a liability—one that binds them to a complex web of taxation, financial scrutiny, and global stigma.
Unlike most countries, the United States imposes citizenship-based taxation. This means that regardless of where an American lives or earns income, they must report worldwide earnings to the Internal Revenue Service (IRS), often hiring expensive tax consultants and facing legal exposure.
'What used to be an asset is now an anchor,' says a representative of Amicus International Consulting.
'You can work abroad, live abroad, and never set foot in the U.S. again—but you'll still pay taxes, report offshore assets, and navigate FATCA compliance for life.'
💰 The Cost of Citizenship: Exit Taxes and Bureaucratic Hurdles
Renouncing U.S. citizenship is not free, and it's no longer easy. The renunciation fee now stands at $2,350, the highest of any country worldwide. But the cost doesn't stop there.
The exit tax, applied to individuals classified as 'covered expatriates,' includes a tax on unrealized capital gains across all assets. Individuals with a net worth above $2 million or average annual tax liability above a certain threshold are especially affected.
'Imagine being taxed as if you sold your entire estate the day before you left,' explains Amicus. 'It's financial punishment for wanting to leave.'
⚖️ Citizenship Revocation and Asset Control
The U.S. has added another restriction layer: passport revocation for tax debt. Passports can be revoked or denied if the IRS accuses citizens of owing over $50,000 in back taxes, even without a formal adjudication.
Over 300,000 Americans were impacted by this law in 2024 alone. Simultaneously, American citizens face de-banking abroad.
Financial institutions across Europe, Asia, and Latin America increasingly refuse to serve U.S. persons due to compliance costs under the Foreign Account Tax Compliance Act (FATCA).
'No one wants American clients anymore,' notes Amicus. 'Not because they're bad clients—but because they're walking liabilities.'
🌐 The Emerging Global Digital Tax Grid
The push for global tax harmonization, led by the OECD and G20 nations, aims to standardize tax reporting across jurisdictions. As nations introduce central bank digital currencies (CBDCS) and phase out physical cash, financial privacy becomes nearly impossible.
'If you think the IRS knows too much now, wait until all transactions are digital and reportable in real-time,' says Amicus.
In this climate, securing an offshore presence, a second passport, and discrete asset structures is more than strategic—it's essential for survival.
🕵️ Real-World Examples: Why Clients Act Now
Case 1: The Fintech Entrepreneur A 36-year-old founder of a cryptocurrency firm based in Estonia faced increasing scrutiny from U.S. regulators despite living abroad for years.
After Amicus International Consulting helped him renounce U.S. citizenship and secure St. Kitts citizenship through investment, he regained control of his financial freedom. He began using European private banking services without restrictions.
Case 2: The Dual-National Retiree A retired dual-national living in Portugal received notice that his U.S. brokerage would close his account. FATCA had made him an undesirable client.
Through Amicus, he renounced his citizenship, paid the one-time exit tax, and transitioned into a legal Panamanian identity, regaining access to international financial institutions.
Case 3: The Political Journalist A journalist known for critical reporting on U.S. foreign policy was placed on a watchlist, leading to repeated secondary screenings at airports. Through Amicus, she acquired Caribbean second citizenship and now travels visa-free across Europe and Asia without fear of retaliation or visibility.
📑 The Process: Legal, Complex, but Doable
Amicus International Consulting specializes in simplifying this complex journey. Their services include: Legal Name Change : In jurisdictions with simplified administrative frameworks.
: In jurisdictions with simplified administrative frameworks. Second Passport Acquisition : Through investment, marriage, descent, or naturalization.
: Through investment, marriage, descent, or naturalization. Exit Tax Mitigation : Structuring assets legally to minimize taxable exposure.
: Structuring assets legally to minimize taxable exposure. Anonymous Travel Arrangements : Through biometric-silent identity documents and secure routing.
: Through biometric-silent identity documents and secure routing. Relocation Support: Housing, bank accounts, and social integration abroad.
'You don't just need a lawyer—you need a strategist, a privacy engineer, and a relocation expert. That's what we provide,' says Amicus.
🌍 The Urgency to Act: The Window is Closing
Legislation is evolving rapidly. Several proposals in the U.S. Congress and global institutions threaten to: Double the renunciation fee
Make exit taxes permanent on post-expatriation income
Impose penalties on family members who assist in expatriation
'Once they flip the switch to digital-only currencies, your window closes. You'll be watched, tracked, and taxed no matter where you live,' warns Amicus.
The firm urges anyone considering renunciation to act within 6 to 12 months, before global agreements cement an irreversible system.
🧭 The Amicus Solution: Freedom Engineered
Since its founding, Amicus International Consulting has positioned itself as a confidential provider of strategic second citizenships, legal identity change, and high-level asset migration. Its clients include: Political dissidents
High-net-worth individuals
Digital entrepreneurs
Privacy advocates
Dual nationals with complex exposure
By leveraging international partnerships, discreet channels, and legal frameworks, Amicus ensures a smooth, secure, and compliant transition from one identity to another.
🛑 Final Thought: Delay is the Enemy of Liberty
Every week you wait, legislation grows, oversight tightens, and the ability to act shrinks.
'Freedom isn't free—but it's still possible. You have to claim it before it disappears,' concludes Amicus.
📞 Contact Information
Phone: +1 (604) 200-5402
Email: info@amicusint.ca
Website: www.amicusint.ca
Follow Us:
🔗 LinkedIn
🔗 Twitter/X
🔗 Facebook
🔗 Instagram
TIME BUSINESS NEWS
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New York Post
an hour ago
- New York Post
Riots over immigrations raids wreak havoc in LA for second day on Saturday, as ICE pledged to call in National Guard
Protests over federal immigration raids continued to wreak havoc on Los Angeles Saturday with agents wearing riot gear reportedly using flash-bang grenades to clear crowds — as the federal government moves to mobilize the National Guard after claiming the LAPD didn't respond for two hours. 'We're going to bring the National Guard in tonight. We're going to continue doing out job. We're going to push back on these people and we're going to enforce the law,' Tom Homan, Acting Director of US Immigration and Custom Enforcement, said on Fox News, Saturday. 7 A protester places debris in a fire as Border Patrol personnel in riot gear and gas masks stand guard outside an industrial park in the Paramount section of Los Angeles, on Saturday. AP Images and video showed a chaotic scene on Saturday as hundreds of protestors filled the streets and clashed with federal agents in riot gear attempting to impede apprehensions by Border Patrol in Paramount, California, near a Home Depot. The dystopian scene showed the heavily armored agents firing teargas cannisters in order to disperse demonstrators who raged for hours on Saturday in a messy and tumultuous street takeover. One violent protestor in a face-covering helmet hurled rocks at the windows of cars right outside the super store — cracking some Border Patrol pick-up trucks in the windshield, according to viral video. 7 A protestor appears to kick a teargas cannister across the Paramount, California street back at a federal agents, on Saturday. ALLISON DINNER/EPA-EFE/Shutterstock Video circulating online showed an American flag on a fire in the middle of the street across from the home improvement store which was mired by demonstrators, Saturday. Other protestors during the day stood in front of a federal bus to stop in from carrying off alleged illegal immigrants, video on social media showed. Violent protests began on Friday with federal agents have raided multiple workplaces in LA's fashion district and other locations, with the conflagrations continuing at the Paramount Home Depot Saturday, according to the American Civil Liberties Union of Southern California. 7 Border Patrol agents were armed in riot gear as they were met with intense and violent resistance from LA County locals. ALLISON DINNER/EPA-EFE/Shutterstock The Trump Administration ripped lefty Los Angeles Mayor Karen Bass after a violent mob swarmed U.S. Immigration and Customs Enforcement officers conducting immigration raids in the city — while the Department of Homeland Security claimed Saturday local cops waited two hours to help push back the agitators. Lefty pols like Bass are 'villainiz[ing] and demoniz[ing ] ICE law enforcement,' leading to the violence that saw roughly 1,000 agitators attack law enforcement officers, deface buildings, slash tires and committing other crimes, Department of Homeland Security Assistant Secretary Tricia McLaughlin said. 7 ICE agents who've been rounding illegal immigrants in Los Angeles have become the subject of vile graffiti in the city's downtown. 'The violent targeting of law enforcement in Los Angeles by lawless rioters is despicable, and Mayor Bass and [California] Governor [Gavin] Newsom must call for it to end,' she added in a statement Saturday. 'The men and women of ICE put their lives on the line to protect and defend the lives of American citizens.' There's been a 413% increase in assaults on ICE agents since President Trump took office in January, compared to the same period last year, McLaughlin said. 7 Roughly 1,000 rioters on Friday surrounded a federal law enforcement building in Los Angeles and assaulted ICE officers, slashed tires and defaced buildings, the feds said. Images released by DHS Saturday show parts of downtown Los Angeles covered in vulgar graffiti, including 'F–K ICE' and 'KILL ICE' spray-painted on fences and buildings — as well as a flyer handed out by the Communist group saying 'The Trump Fascist Regime MUST GO NOW!!!' 7 Los Angeles Mayor Karen Bass called rioters 'despicable' in a statement Saturday. Getty Images Helmeted LAPD cops in riot gear faced off Friday evening with protestors after a day of federal immigration raids in the city. At least 44 people were arrested. The Los Angeles Police Department did not return messages. 7 Department of Homeland Security Assistant Secretary Tricia McLaughlin blamed Bass and California Governor Gavin Newsom. AP New York Mayoral candidate and former-governor Andrew Cuomo weighed in on the ICE raids and the protests in both Los Angeles and New York on Saturday. 'The recent ICE crackdowns in Los Angeles and New York City are a deeply troubling escalation in immigration enforcement tactics that undermine community trust and the principles of due process,' Cuomo said in a statement. 'I believe in upholding the rule of law and maintaining secure borders, but these operations — marked by military-style raids, the use of flash-bang grenades, and the detention of individuals, including those attempting to document the events — cross a line into cruelty and unnecessary fear mongering,' Cuomo said in the statement. Hundreds of migrants, including children, were detained by ICE agents Friday, the ACLU said. The DHS, however, said operations in LA this week have resulted in the arrest of 118 illegal migrants – including five gang members and others with past criminal charges that include drug trafficking, assault, cruelty to children and robbery, according to the DHS. Bass condemned the ICE raids in a statement, saying these 'tactics sow terror in our communities and disrupt basic principles of safety in our city… We will not stand for this.' Neither the Department of Homeland Security nor the California National Guard responded to The Post's request for comment.


Hamilton Spectator
an hour ago
- Hamilton Spectator
Protesters and immigration authorities face off for a second day in LA area after arrests
PARAMOUNT, Calif. (AP) — Tear gas and smoke filled the air on the southern outskirts of Los Angeles on Saturday as confrontations between immigration authorities and demonstrators extended into a second day and top Trump administration officials vowed to prosecute anyone who interferes with enforcement. Border Patrol personnel in riot gear and gas masks stood guard outside an industrial park in the city of Paramount, deploying tear gas as bystanders and protesters gathered on medians and across the street. Some jeered at officers while recording the events on smartphones. 'ICE out of Paramount. We see you for what you are,' a woman said through a megaphone. 'You are not welcome here.' One handheld sign read, 'No Human Being is Illegal.' Smoke rose from burning shrubbery and refuse in the street, and demonstrators kicked at a Border Patrol vehicle. A boulevard was closed to traffic as Border Patrol agents circulated through the area. Homeland Security Secretary Kristi Noem posted a message on social media addressing 'LA rioters' and warning that interference with immigration enforcement will not be tolerated. 'You will not stop us or slow us down,' Noem said on the X platform. Immigration and Customs Enforcement 'will enforce the law. And if you lay a hand on a law enforcement officer, you will be prosecuted to the fullest extent of the law.' Immigration and Customs Enforcement officers executed search warrants at multiple locations Friday, including outside a clothing warehouse in the fashion district. The action came after a judge found probable cause that the employer was using fictitious documents for some of its workers, according to representatives for Homeland Security Investigations and the U.S. Attorney's Office. A tense scene unfolded outside as a crowd tried to block agents from driving away. Advocates for immigrants' rights said there were also migration detentions outside Home Depot stores and a doughnut shop. DHS said in a statement that recent ICE operations in Los Angeles resulted in the arrest of 118 immigrants. Following the Friday arrests, protesters gathered in the evening outside a federal detention center, chanting, 'Set them free, let them stay!' Some held signs with anti-ICE slogans, and some some scrawled graffiti on the building. Among those arrested at the protests was David Huerta, regional president of the Service Employees International Union. Justice Department spokesperson Ciaran McEvoy confirmed that he was being held Saturday at the Metropolitan Detention Center in Los Angeles ahead of a scheduled Monday court appearance. It was not clear whether Huerta had legal representation. Democratic Senate Minority Leader Chuck Schumer called for his immediate release. In a social media post, he cited a 'disturbing pattern of arresting and detaining American citizens for exercising their right to free speech.' The immigration arrests come as President Donald Trump and his administration push to fulfill promises of mass deportations across the country. Los Angeles Mayor Karen Bass said the activity was meant to 'sow terror' in the nation's second-largest city. In a statement Saturday, ICE Acting Director Todd Lyons chided Bass for the city's response to the protests. 'Mayor Bass took the side of chaos and lawlessness over law enforcement,' Lyons said. 'Make no mistake, ICE will continue to enforce our nation's immigration laws and arrest criminal illegal aliens.' ___ Lee reported from Santa Fe, New Mexico. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
2 hours ago
- Yahoo
From lottery tickets to life insurance: Here are 6 ‘bad assets' that could cause you to retire poor in America
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. You probably know the importance of retiring with a hefty, well-diversified portfolio of assets. But what if some of your assets are actually hidden liabilities? Here are the top seven tempting but deceptive money drains that you could trap yourself in before retirement. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) If you're financially secure, splurging on your 'dream car' can be the ultimate temptation. But the average new car loses roughly 30% of its value within the first two years alone, according to Kelley Blue Book. New cars also often have higher insurance premiums compared to used cars. The depreciation rate slows down after those initial years, which means buying a modestly used car at an affordable price is a better way to secure your financial future. Plus, you can benefit from a lower insurance bill. According to a MarketWatch study, full-coverage insurance on new cars averages $168 per month, while used car owners typically pay $150 monthly. That means new car owners pay an extra $216 a year. You can lower your insurance premiums further by shopping around and comparing rates from leading providers through OfficialCarInsurance. Simply answer some basic questions about yourself, your driving history and the type of vehicle you drive then OfficialCarInsurance will show you rates from reputable insurance providers like GEICO, Allstate and Progressive. The best part? The process is completely free and won't affect your credit score. Get started and find rates as low as $29 per month. Buying a timeshare in Cabo Verde and spending your retirement on a beach is undoubtedly attractive, but there are caveats. Timeshare ownership involves steep initial costs, recurring maintenance fees, low resale potential and rigid usage schedules. On top of that, the secondary market is notoriously poor, and many owners struggle to exit their agreements. Instead of locking yourself into a timeshare, consider creating an annual travel fund for vacation rentals in your retirement plan. One option is opening a high-yield savings account. These plans can offer up to 10 times the national APY of 0.41%. There is a market for luxury collectibles such as vintage cars, designer handbags and luxury watches, but that doesn't mean a Rolex deserves a spot in your retirement portfolio. Collectors of all kinds can be fickle. What's considered valuable today may not be worth as much by the time you retire. Diamonds, for instance, were a popular collectible, but prices have declined by 26% in just the last two years, according to The Guardian. With that in mind, it might pay to avoid the glamorous and focus on safer investments like corporate bonds or dividend stocks. Investing small sums consistently can be rewarding, thanks to the benefits of compounding interest. For instance, investing $30 each week for a period of 20 years can add up to over $76,000, assuming it compounds at 8% annually. Read more: Rich, young Americans are ditching the stormy stock market — Buying lottery tickets or going all in on a new cryptocurrency is rarely a good idea, regardless of your age. But the risks are magnified when you're older and approaching the end of your career. Instead of indulging in wishful thinking that a meme-coin or random penny stock is going to make you rich overnight, consider the safer path to retirement. Focus on assets that are relatively stable and can act as a hedge against inflation, like gold. A gold IRA can be a valuable tool — it combines the inflation-resistant properties of the precious metal with the tax advantages of an IRA. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties. To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases. Rental income from a robust portfolio of real estate is a great way to enhance your passive income in retirement. But if you're on a fixed income, you should recognize the fact that your capacity for risk is much lower. As a retired landlord, you can't afford a sudden housing market crash or interest rate volatility. One option to make your dollars stretch is to consider tapping into the $36 trillion U.S. home equity market by investing in home equity agreements (HEAs). Homeshares allows accredited investors to gain direct exposure to hundreds of owner-occupied homes in top cities across the country through their U.S. Home Equity Fund. This approach enables investors to unlock lucrative real estate opportunities without the headaches of buying, owning or managing properties. With risk-adjusted target returns ranging from 14% to 17%, the Homeshares U.S. Home Equity fund offers accredited investors a low-maintenance alternative to traditional property ownership. Despite what salesmen might say, whole life insurance isn't always the ideal retirement vehicle. These plans can usually be more expensive than term life insurance, and you have limited control over how the capital is invested. Instead, you could consider term life insurance that protects your loved ones if the worst comes to pass. With Ethos Insurance you can sign up and get instant life insurance without any medical exams or blood tests. The process takes just 10 minutes, and you can get up to $3 million in coverage starting at just $2 per day. Ethos has a 30-day free look period with a money-back guarantee, meaning you can get a full refund if you aren't satisfied. JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it's too late) Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger This article provides information only and should not be construed as advice. It is provided without warranty of any kind.