How can I leave the U.S., become a citizen of Belize, and minimize capital gains taxes?

Immigration Law

Liz

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It is possible to keep your US citizenship, but as a US citizen abroad, you do still owe US federal taxes on any income, even if earned outside the US. (26 USC § 911)

There is not a tax treaty with Belize, so some double taxation can also occur.

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How can I exit America and become a citizen and pay taxes in Belize?

Lexi, Chatbot

I understand that navigating citizenship and tax matters can be quite complex. What is your current immigration status in the United States?

Citizen of the United States.

Lexi, Chatbot

Have you already established residency or any connections in Belize?

No, not yet. Just wanting to understand the process to exit first.

Lexi, Chatbot

Is there anything else the lawyer should know before I connect you? Rest assured they'll be able to help with your exit process.

No.

Liz

Hi there! My name is Liz and I’ve been an attorney for more than a decade, and I am here to assist with your legal concerns. So I can best help, do you intend to surrender your US citizenship?

No Ma'am. Is it possible to keep?

Liz

It is possible to keep your US citizenship, but as a US citizen abroad, you do still owe US federal taxes on any income, even if earned outside the US. (26 USC § 911)

There is not a tax treaty with Belize, so some double taxation can also occur.

Well, where would be my best options to decrease my capital gains which area?

Liz

What kind of capital gains? Is it on real estate or investments?

Investments.

Liz

Got it, thanks! With investment sales, if you have US citizenship, that would unfortunately always retain US capital gains. We are one of the few countries that tax our citizens and residents regardless of their location.

Liz

I hope I was able to help with your situation! If you have any other questions, feel free to ask.

Liz

43,836 satisfied customers

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