A seminar for Americans interested in renouncing their U.S. citizenship will be held Friday in Kelowna.
Alex Marino, a U.S. tax lawyer, will outline the ways in which citizenship can be renounced, and the advantages and disadvantages of doing so.
Last year, 5,411 U.S. citizens living in Canada gave up their American citizenship, according to the Moody’s Gartner Tax Law, the firm for which Marino works.
The main reason people give up American citizenship, the company says, is to avoid paying U.S. taxes. Some Americans living in Canada may also be concerned about the direction the U.S. is headed under President Donald Trump.
“All evidence suggests that now may be the time to consider renouncing. However, the process can be complex and daunting,” the company says in a news release promoting the upcoming Kelowna seminar.
“It is essential to ensure that you renounce properly. If not done correctly, you may be subject to the U.S. Exit Tax or barred from ever entering the U.S. again,” the company says.
Friday’s seminar at the Delta Grand hotel from 4 to 6 p.m. is free, but pre-registration is required. See eventbrite online for more details, or phone 403-693-5100.