Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by vidarh on Friday May 11, 2012 @01:55PM (#3960422)

If he'd actually continued to live in the US, I might have sympathy for this argument. But he's moved out. The US tax regime where expat US citizens still have to pay full tax to the US (except where there's a tax treaty that limits double taxation) is exceptionally harsh - almost no other countries do that.

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by dons on Friday May 11, 2012 @02:22PM (#3960566)

> The US tax regime where expat US citizens still have to pay full tax to the US (except where there's a tax treaty that limits double taxation) is exceptionally harsh - almost no other countries do that.

This.

The US keeps taxing you after you leave. And for citizens, it is for life.

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by Splines on Friday May 11, 2012 @02:39PM (#3960628)

That's pretty hostile. I came here and now have a green card, with the intention of eventually gaining citizenship.

Now I'm wondering how much I've harmed my future mobility (should I choose to return to my birth country).

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by mhurron on Friday May 11, 2012 @02:48PM (#3960676)

Why do you want citizenship? What do you think it gives you over having the Green Card. When I was going through the process to get my Green Card, my lawyer pretty plainly said that unless I really wanted to vote, getting citizenship gives you nothing but ads many liabilities.

The only real benefit I could have seen for myself was if I lived outside of the US for more than six months of the year from time to time.

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by Splines on Friday May 11, 2012 @05:06PM (#3961403)

> The only real benefit I could have seen for myself was if I lived outside of the US for more than six months of the year from time to time.

Pretty much this. Should I choose to move back home, it'd be nice not to have to go through the whole green card process over again.

Maybe I'm hedging my bets too much.

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by vl on Friday May 11, 2012 @10:25PM (#3962464)

Citizenship gives you blue passport which so much nicer for travel than so many passports in other colors. I think only UK is better.

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by vl on Friday May 11, 2012 @10:23PM (#3962455)

Well, after few years on GC you are going to be subject of the same texation law anyway, so it doesn't matter if you to have citizenship or not.

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by ry0ohki on Friday May 11, 2012 @02:58PM (#3960740)

I don't think it's entirely unreasonable. After all, you'd probably still expect the US Military to come to your aid if the shit hit the fan wherever you are abroad, right?

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by vl on Friday May 11, 2012 @10:28PM (#3962471)

Btw, this doesn't apply if you go for a visit to the country of your original citizenship.

[ Parent | on HN ]

Re:Facebook Co-Founder Saverin Gives Up U.S. Citizenship Bef... by ry0ohki on Friday May 11, 2012 @03:44PM (#3960981)

Hmm ok down vote away, but that's the principal behind this law

[ Parent | on HN ]