A high price for low taxation.

According to recent statistics from United States tax authorities, a growing number of dual-citizenship expatriate Americans are surrendering their U.S. passports and citizenship, in favour of domicile in their adopted countries of residence. The last quarter of 2009 saw 500 people applying for the necessary U.S. tax forms - more than double the entire number of applicants for 2008.

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Marnin Michaels, a taxation lawyer with the renowned international practice, Baker and McKenzie in Zurich, told the Tages Anzeiger that this figure was only the tip of the iceberg. "Only a small proportion of people giving up their U.S. citizenship are actually required to complete the form," he explained. This minority includes the wealthiest members of society. "The number of emigrations is climbing much faster than the official figures show."

Some experts claim that during 2009, the number of former dual-citizenship Americans surrendering their passports could have been as high as 10,000. The U.S. Embassy in Bern is already showing signs of strain. "The embassy is so overloaded in this department, you can wait up to 18 months for an...

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