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Isn't he renouncing US citizenship because Singapore doesn't allow dual citizenship? Was keeping US citizenship while living there even an option for him?
by vibrunazo 14y ago
Isn't he renouncing US citizenship because Singapore doesn't allow dual citizenship? Was keeping US citizenship while living there even an option for him?
- mhartl 14y agoThat's not why. You can live in Singapore as a permanent resident for the price of starting a corporation ($150), which then simply hires you as an employee. Or you can have $20m and qualify for an investor exception—for which I'm pretty sure Saverin qualifies. (Note: The above numbers are from memory and may not be exact, but they're in the right ballpark.)
- hazov 14y agoHe still is a Brazilian citizen[1], non-resident Brazilians don't pay any income tax as far as I know. [1]: http://www.bloomberg.com/news/2012-05-12/facebook-co-founder-may-gain-choosing-singapore-over-u-s-.html http://www.bloomberg.com/news/2012-05-12/facebook-co-founder... EDIT: added "tax".
- rbn 14y agoHe was born in Brazil and has Brazilian citizenship. So that's not the case