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As long as he remains a USC, he will have to pay US tax. Don't get me wrong: I don't like the idea of buying a citizenship at all. But this won't let him escap
by 1024core 6y ago
As long as he remains a USC, he will have to pay US tax.
Don't get me wrong: I don't like the idea of buying a citizenship at all. But this won't let him escape taxes, if you think that was his intention.
- coliveira 6y agoFor someone like Eric S., it must be very easy to get a new citizenship, and this will help him to setup some of the schemes that, while legal, will allow him to evade billions of dollars in taxes over his lifetime. I believe this is just a way to simplify his tax dodging schemes.
- ryanlol 6y agoCan you give an example of a scheme that this might help him set up? I believe that there are none, unless he pays a significant exit tax to give up his US citizenship.
- coliveira 6y agoThere are all kinds of schemes, but the main vehicle used is to put all assets in something called a trust. Do your research. With a trust you can move your assets around without other people knowing where they are invested. While the US laws applies to all citizens, a trust is not a citizen of the US so according to international laws there is nothing the US can do about it. If Eric has another citizenship, this becomes even easier.