Thinking of expatriating?
You are not alone. Each year, thousands of people renounce their US citizenship.
Why do people decide to expatriate?
While everybody has their own reasons, most expatriates are fed-up with the government’s tax and reporting requirements.
The decision to expatriate is emotional and must be made with care. Expatriating properly requires a great deal of planning and strategizing to achieve the life you desire once the process is complete.
Jimmy Sexton, LL.M., Founder and CEO of the Esquire Group, will be there with you every step of the way.
Three Step Process
Our expatriation services are divided into three stages.
STAGE 1 – Pre-Expatriation Planning
The planning done before the actual act of expatriation is critically important.
The US government divides expatriates into two unique groups – “covered expatriates” and “non-covered expatriates.”
For tax purposes, it is advantageous to be a non-covered expatriate.
Briefly, a covered expatriate includes people that:
- have a net worth of $2 million (USD) or more;
- have an annual net income tax bill of more than $168,000 for the five years prior to expatriation; or,
- fail to certify on Form 8854 that they have been tax complaint for the five years prior to expatriation.
Jimmy will help determine your status.
In some instances, it is possible for a covered expatriate to get reclassified as a non-covered expatriate.
If getting reclassified is not an option, there are still strategies to minimize the tax consequences of your expatriation.
Don’t forget about your life after expatriation. We will help with your citizenship and residency planning – including planning for future tax obligations.
STEP 2 – Expatriation Assistance
We will guide you through the actual process of expatriating by preparing the required forms, scheduling your appointment, and preparing you for your US embassy visit.
You will feel confident walking into your expatriation appointment because you’ll know exactly what to expect.
STEP 3 – Post Expatriation Assistance
There are still some requirements that must be satisfied after you have expatriated.
The Esquire Group will help prepare the necessary documents to inform financial institutions and other parties about your expatriation.
The US government requires expatriates to file special forms and a final tax return. Finally, there are forms that must be given to your heirs.
We will help you experience a seamless transition into your new life as an expatriate.
Jimmy will personally help strategize and plan your expatriation process. As a result, the availability of our expatriation services is extremely limited.