Renouncing the U.S. citizenship is an issue that the federal government handles carefully. As a consequence, those who make the decision to give it up must pay a visit to the embassy or consulate of the United States.
Once the renunciation is accepted, the applicant automatically loses the right to be in the United States or travel freely. Likewise, he or she also loses his or her rights as a U.S. citizen.
Since 2007, and after the Great Recession, renunciations increased, as the petitioners longed to evade taxes. Thus, they moved abroad.
Eduardo Saverin, Co-Founder of Facebook
Eduardo Saverin is originally from Brazil, but he was raised in Miami, since he and his family moved there when he was a child. Of course, he eventually obtained the American citizenship.
Over the years, Eduardo helped Mark Zuckerberg to create Facebook. It was a big surprise for everyone when, in 2012, Saverin renounced his U.S. citizenship and obtained Singapore’s, which does not allow the dual nationality. Severin did this to avoid paying taxes on the fortune that he had made thanks to Facebook.
In the award-winning film, The Social Network, Saverin’s role was played by Andrew Garfield.
Denise Rich, Grammy-Nominated Singer-Songwriter
Denise Rich, 69, is the former wife of billionaire Wall Street investor, Marc Rich, who was pardoned by President Bill Clinton after fleeing to Switzerland to avoid prosecution for tax evasion and other various charges.
Denise has written songs for a dazzling list of artists: Mary J. Blige, Aretha Franklin, Jessica Simpson, Marc Anthony, Celine Dion, Patti LaBelle, Diana Ross, Chaka Khan and Mandy Moore. She has also received three Grammy nominations.
Rich, who was born in Worcester (Mass), moved to Austria after leaving the United States. Her ex-husband, Marc, died in June 2013 at the age of 78.
Ted Arison, owner of Carnival Cruise Lines and the Miami Heat
Ted Arison (Theodore Arison), who died in 1999, aged 75, was an Israeli businessman, born in Tel Aviv
After serving in the Israeli army, Arison moved to the United States and became a citizen. He soon began his business career there.
Arison founded Carnival Cruise Lines, and made a fortune. It did not take long before he became one of the richest people in the world.
In 1988, Arison franchised the Miami Heat. Two years later, he renounced his U.S. citizenship to avoid taxation on property, so he returned to Israel to start a business investment.
John Huston, Director and Actor
John Huston, Hollywood director, renounced his U.S. citizenship in 1964, and moved to Ireland.
Huston died in 1987 at the age of 81. Among his film credits are The Maltese Falcon, Key Largo, The African Queen, Moulin Rouge and The Man Who Would Be King. He was also praised for his performance in the classic Chinatown (1974).
Jet Li, Chinese Martial Artist and Actor
Chinese martial arts films star and producer, Jet Li, renounced his U.S. citizenship in 2009, and moved to Singapore
According to some comments, Li prefers the education system in Singapore for his two daughters. Among his film credits are included: Lethal Weapon 4, Romeo Must Die, The Expendables, The Kiss of the Dragon, and The Forbidden Kingdom.