81–90 of 401 posts
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Well, the article says it's unknown why, but even speculating what nefarious things could you do with it? Cyprus is part of the EU.
Yeah, it's a real mystery. https://www.globalcitizensolutions.com/cyprus-tax-for-non-re...
I literally just read an article 10 minutes ago saying he is expected to lead a tech industry taskforce for the Biden administration. Not a good look to be taking on a more involved role in US governance the exact same moment you're applying for citizenship of a different country.
Oppo dumps are a highly effective way to blow up someone's appointment in a new administration.
And for all the folks going on about taxes.
1) Rich people can already avoid taxes by investing overseas and not generating realized gains so funds stay untaxed overseas. I don't think being a citizen of EU would change that much.
2) US citizens are taxed regardless of second citizenships as US citizens.
"If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside."
https://www.irs.gov/individuals/international-taxpayers/us-c...
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> It's not moral behavior. Getting a second citizenship?
Buying one. Citizenship is something that ought to be earned and given to people who show that they want to live in and contribute to a country. People like Schmidt purchase themselves a tax excemption or freedom of movement in a world where ordinary people right now lose their jobs and are locked into their country.
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Buying one. Citizenship is something that ought to be earned and given to people who show that they want to live in and contribute to a country. People like Schmidt purchase themselves a tax excemption or freedom of movement in a world where ordinary people right now lose their jobs and are locked into their country.
This feels like suggesting that it's immoral to buy a car because someone else might not be able to. >People like Schmidt purchase themselves [...] freedom of movement This is not immoral. >where ordinary people [...] are locked into their country This is
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American citizens living and working abroad still must pay taxes to the US Government. As far as I am aware, the US is the only country in the world with this requirement. There is a reason the FBAR requirement is often called the "fubar" requirement.
Norway has the same.
That is not what the US does which is "We don’t care what you do and where you live, if you have citizenship you better file your taxes"
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Why do you think Eric has problems traveling?
Americans are currently blocked from travel to many countries, European included, due to the bungling of their Covid 19 response.
But on aggregate, Europe and the US have both massively bungled their Covid responses.
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Well, the article says it's unknown why, but even speculating what nefarious things could you do with it? Cyprus is part of the EU.
This is the real problem. The EU shouldn't allow sale of citizenship in host countries, essentially paying a way to get into the EU. I highly doubt that would be possible to enforce though.