You do not have to renounce your US Citizenship
You do not have to renounce your US Citizenship to live any where in the world. Most countries will allow you to become a permanent resident without becoming a citizen of that country.
However, if you do renounce your US Citizenship, you will never have to pay US taxes or file a US tax return again. While you remain a US citizen you must file a tax return each year if your income exceeds a certain minimum amount, and often pay US taxes, in addition to those in the foreign country you have chosen to live. Surrendering your US citizenship may be good tax planning if you are moving to a low tax or no tax country.
If you need assistance with the legal or tax aspects of surrendering your US citizenship our firm can assist you. We have represented or advised over a hundred clients with this process who are now no longer having to file a US tax return.