Becoming an American citizen is something millions of people worldwide dream of. But renouncing U.S. citizenship has become increasingly common, as a number of tax and financial issues drive Americans to give up their status as citizens. As surprising as this trend might be, though, there's one fact about renouncing U.S. citizenship that most people aren't aware of.
In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at that fact and examines the many people who have renounced U.S. citizenship in the past. Although Facebook (NASDAQ: FB) co-founder Eduardo Saverin attracted attention last year for his renunciation, Dan notes that he's far from the only one who's done so. With looks at people associated with Carnival Cruise Lines (NYSE:CCL), Campbell Soup (NYSE:CPB), Tupperware Brands (NYSE:TUP), and Franklin Templeton (NYSE:BEN), Dan shows how finances play an important part in people's decisions to renounce U.S. citizenship but are far from the only factor involved.
Fool contributor Dan Caplinger has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Facebook. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.