Renunciation of Citizenship

Renunciation is the formal, voluntary act of relinquishing citizenship of a country. In the United States, renunciation must be performed in person before a consular officer at a US embassy or consulate and carries a significant administrative fee. US citizens who renounce their citizenship may be subject to an exit tax on unrealised gains if they meet certain wealth or tax compliance thresholds. Renunciation is irrevocable in most jurisdictions and results in the loss of all associated rights, including the right to a passport.