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A comment on Secret Bitcoin billionaires to renounce their US citizenship before cashing in?. Parent comment

Re:Secret Bitcoin billionaires to renounce their US citizens... by origami777 on Sunday February 04, 2018 @09:18AM (#16302801)
Singapore is a western (like) country and has no capital gains tax. Though as some other commenters have noted, i don’t know if the IRS would consider it legal for a US citizen to bail and not pay the tax.

Edited

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Re:Secret Bitcoin billionaires to renounce their US citizens... by sjg007 on Sunday February 04, 2018 @10:22AM (#16303045)
You can't renounce citizenship for purely tax reasons, I believe.
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Re:Secret Bitcoin billionaires to renounce their US citizens... by origami777 on Sunday February 04, 2018 @06:34PM (#16305577)
The closet incident I could remember was when a Facebook co founder did this. Looks like he still had to pay a tax https://en.m.wikipedia.org/wiki/Eduardo_Saverin
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Re:Secret Bitcoin billionaires to renounce their US citizens... by dogma1138 on Sunday February 04, 2018 @10:03AM (#16302970)
Singapore is a tiny bubble that if you are rich you can live a luxurious life style without fearing (too much) for your safety but I would not call it western by any means.
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Re:Secret Bitcoin billionaires to renounce their US citizens... by origami777 on Sunday February 04, 2018 @06:26PM (#16305552)
Hmmmm. Your statement makes me think you don’t know much about Singapore.

It is a tiny city, but it has a massive role in Southeast Asia. I have lived there before and lived a great life without being rich by US or Singapore standards. The national language is English. They are by all means a capitalist country. It is a modern high tech society. Very western if you ask me.

The only way they aren’t that I can think of is that they are not a democracy.

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