Americans Renouncing Citizenship Up 221%, All Aboard The FATCA Express

America is a great land and lures immigrants worldwide, yet record numbers of U.S. citizens and permanent residents are giving up their citizenship or residency. For all the immigrant arrivals the trickle the other direction is increasing. The number is still small, with the “published” expatriates for the quarter 630 for the last quarter of 2013.

That brings the total number to 2,999 for all of 2013. The previous record high for a year was 1,781 set in 2011. It’s a 221% increase over the 932 who left in 2012. You can call it a shaming or a public record, but the Treasury Department is required to publish a quarterly list of Americans who renounced their U.S. Citizenship or terminated their long-term U.S. residency. The public outing puts Americans on notice who relinquished their rights. Continue reading

Myanmar’s ‘goldrush’ lures foreigners

It is an expat “goldrush” driven by the promise of an economic boom after the rollback of many sanctions following the end of decades of junta rule.

However, some, at least, are also drawn by a commitment to help rebuild the impoverished nation.

The once-empty Western bars of central Yangon are now doing a roaring trade, hotels are fully booked and networking nights thrum with the chatter of new arrivals hungry for contacts in the city. Continue reading