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INTRODUCTION - On 17 June 2021, the U.S. Securities and Exchange Commission (the SEC) issued an order to: (i) increase the net worth threshold for “qualified clients” under Rule 205-3...
Highlights Expatriation has increased significantly in 2020. The latest U.S. Department of the Treasury Report reflects that a record 6,047 individuals expatriated during the first three quarters of 2020. In addition, 834,000 "green card" holders became U.S. citizens in FY 2019, which reflects an 11-year high. Why are so many individuals expatriating? Perhaps it is because we live in chaotic times, ranging from the pandemic to the contentious presidential election and transition, among other reasons. Further, U.S. taxpayers increasingly are considering moving a portion of their financial port...