More Canadians who found success in the US need to do exactly that, they don't need the money from continuing to work anyway and worst case they can just have their business follow them.
this post was submitted on 27 Feb 2025
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Famed music producer Bob Ezrin renouncing U.S. citizenship, returns to Canada
(www.theglobeandmail.com)
I don't think the impact of individuals leaving will phase him.
But if entire companies and corporations moved their head office and manufacturing to Canada, that would grab his attention!
Agreed. Add those who are not Canadian and wish to denounce as well. Big names in art, culture, science, tech. So many ways to piss on the Donald...shit i forgot he likes that.
Happy for him! As a U.S. citizen... man, wish I could do the same.
Research your family history. Sometimes that can open doors but it might be expensive.
Good tip. As far as I know I've got very distant overseas ancestry, but could be worth exploring again.
I didn’t know you could get rid of it… like don’t you owe taxes for life?
You can get rid of basically any citizenship. It's just often a bad idea. Particularly if you only have 1.
Imagine leaving triggers a taxation event where they try to grab what they can. But even the US cannot tax non-resident, non-citizens. I mean, until the next unlawful Executive Order I guess.
In Canada, taxation is based on residency. But if you leave, there is a “final return” that includes a “departure tax” that treats property as sold to collect on the “gains” (even if you did not sell anything).
I believe the US has a similar exit tax but I am not as familiar with it.