Under most circumstances, having a dual citizen

Under most circumstances, having a dual citizenship is the preferred way to go about when moving abroad because formally renouncing your citizenship is actually a rather complicated process. Dealing with the IRS is never fun and pre-paying future taxes in order to relinquish citizenship is a significant burden vs continuing to file taxes as a US citizen despite living abroad.
There are some tax advantages living abroad. Most notably, if you’re out of the country for more than 330 days, you will get a tax exemption called the Foreign Earned Income Exclusion. In a nutshell, if you have low income then you are not going to be paying the US taxes. The Foreign Income Exclusion stops a little over $100,000 in earned income for a single US taxpayer. What’s nice about it is that you pay 0% on earnings up to the amount of the exclusion and then that first money earned above that is taxed at a lower rate. This is what I understand but it’s probably something that is best to revisit from a financial perspective especially when you are getting closer to making that decision. You do not need to renounce or relinquish your US citizenship in order to live in another country. Making this decision is not something to be taken lightly as revoking your citizenship is a big deal.  Certainly review all matters tax related since rules definitely change and how your income arrives, w-2 vs. investment, vs foreign payroll are all factors that should be considered and advised by a tax professional.

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