About 5,000 Americans renounced citizenship in a year: what’s driving the trend?
The United States is facing an unprecedented spike in citizenship renunciations. In the third quarter of 2024 alone, 2,123 citizens formally relinquished their US passports, marking the highest quarterly total since 2016.
Discover why Americans are leaving the USA, and which alternative citizenship options offer greater freedom and lower taxes.
Legal and Compliance Officer, certified CAMS specialist
About 5,000 Americans renounced citizenship in a year: what’s driving the trend?
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4,820 Americans renounced their citizenship in 2024. This is the third-highest number in history and represents a 48% increase compared to 2023. A total of 2,123 Americans renounced their citizenship during the third quarter of 2024 alone.
The highest number of renunciations was recorded in 2020, when 6,705 individuals gave up their US citizenship, and 5,410 expatriations were registered in 2016.
Due to the growing volume of renunciation requests, US consulates are overwhelmed. Some locations report waiting times of several months or even years just to schedule an appointment.
Immigration analysts estimate that the global queue for renunciation now exceeds 30,000 people. If the trend continues, 2025 could set a new record for citizenship exits.
Americans do not have to renounce their citizenship to obtain a second passport. Renunciation is only required when a US citizen acquires a passport from a country that prohibits second citizenship.
Why more Americans are renouncing their citizenship
1. Citizenship-based taxation. The United States is one of the few countries that taxes its citizens on worldwide income, regardless of where they reside. This means Americans living abroad are still required to file tax returns and pay taxes, even if they have no US-based income.
2. Banking restrictions. Foreign banks often refuse US clients due to the reporting rules of the Foreign Account Tax Compliance Act, or FATCA. The FATCA regulations complicate access to accounts, loans, and investments overseas.
3. Personal or political motivation. Some Americans renounce citizenship to express disapproval of US domestic or foreign policy decisions. Notable cases include celebrities or public figures citing landmark court rulings or geopolitical stances.
Several well-known Americans chose to leave the USA after Donald Trump was elected president in November 2024. For example, Hollywood actor Richard Gere relocated to Spain in 2025. Film director James Cameron left the US for New Zealand, although he is originally a Canadian citizen.
Which citizenship to obtain instead of the US one?
For those seeking to legally reduce their tax exposure or diversify their global status, citizenship by investment offers a fast and secure alternative.
Caribbean citizenship. Countries like St Lucia, St Kitts and Nevis, Dominica, Antigua and Barbuda, and Grenada offer second citizenship within 6—8 months. A Caribbean passport provides visa-free access to over 140 countries. The minimum investment is $200,000.
Caribbean countries have favorable tax regimes. They do not tax global income, capital gains, dividends, inheritance, or royalties for individuals.
Vanuatu citizenship can be obtained in 1—4 months. It is the fastest way to get second citizenship. The investment threshold starts at $130,000 and depends on the family members included in the application.
Vanuatu citizens can travel visa-free to more than 100 countries, including popular Asian destinations like Malaysia and Singapore. However, they need to apply for a visa to enter Schengen countries or the UK.
Malta citizenship can be obtained by naturalization for exceptional services by direct investment. Americans may apply for a passport after 1 or 3 years of residency. The minimum investment is €690,000. Maltese citizens travel to 169 countries visa-free.
Malta has announced that the rules for obtaining citizenship will change soon. If you are interested in becoming a Maltese citizen, we recommend acting quickly.
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