Uk vs Us citizenship, which do you think is an better option for business?(General Discussion)
- Thread starter rickyyeungyeung
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UK (I am British Citizen, non resident) because it is a more free country.
- No taxation except on UK property capital gains or rent when non resident.
- No invasive surveillance (privacy rights) when non resident.
- Health Care if return (free). *subject to paying in NI.
- Social Security if return (free). *subject to paying in NI.
- Fair taxes if in the UK as a Resident.
- Fair taxes if in the UK as a non-dom (main abode somewhere else).
- Money in Politics is less.
- UK is a land of opportunity, we don't care about someones education, or lineage, colour, creed.
- Some of the finest people in the world.
* if the UK introduces the taxation/surveillance the US has for non residents, i'd probably obtain citizenship elsewhere and drop the UK citizenship immediately -> UK Gov recognises this so doesn't appear to be interested in following the US Approach.
- No taxation except on UK property capital gains or rent when non resident.
- No invasive surveillance (privacy rights) when non resident.
- Health Care if return (free). *subject to paying in NI.
- Social Security if return (free). *subject to paying in NI.
- Fair taxes if in the UK as a Resident.
- Fair taxes if in the UK as a non-dom (main abode somewhere else).
- Money in Politics is less.
- UK is a land of opportunity, we don't care about someones education, or lineage, colour, creed.
- Some of the finest people in the world.
* if the UK introduces the taxation/surveillance the US has for non residents, i'd probably obtain citizenship elsewhere and drop the UK citizenship immediately -> UK Gov recognises this so doesn't appear to be interested in following the US Approach.
If your choices are UK or US and nothing else, US only makes sense if you intend to reside in the US and do business there. Broadly speaking, that's the only advantage a US passport has over a UK passport for business purposes.
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This is the probably the answer to your question.
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This is the probably the answer to your question.
I would choose UK
Because many banks/brokers around the world don't accept US customers
UK all day long as US citizenship is not welcome at every bank and FI because of FATCA reporting requirements. Plus If I was a US person living outside the US and doing business outside the US then why would I want to have to file US taxes each year. US and Eritrea I think are only two countries that have taxation by citizenship.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Hungary, Myanmar, and Tajikistan as well. There are a few exception for Hungarians, though.
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This is the probably the answer to your question.
US is in good company for global tax policy with those countries.
P.S Taxation by citizenship will come to EU at some point. EU citizens wont be allowed to escape the EU project so easily in future.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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