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I am a partner in a small 8 attorney law firm in California and a dual citizen (British). I would like to renounce my US citizenship and move to Mexico, but maintian my partnership interest in the CA law firm and commute from Mexico into CA to practice law. I assume I would be taxed on my CA law firm income (and all other US source income), but my non-US income would not be subject to US income tax.
Is the above plan viable and, if so, can you assist me with implementing it?
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david ingram replies:
I am not a lawyer. However, President Clinton signed the Illegal Immigrant and Legal Immigrant Responsibility Act on Sept 30, 1996. One section of that act stated that a US citizen who gave up his or her citizenship to avoid Income Tax (the defining reason in your question), would no longer be allowed to enter the United States for any purpose.
Various lawyers think that there is a way around this by coming up with another reason for giving up your citizenship. I can't think of any reason to give up one's US citizenship which would survive a reaonable test except tax reasons.
It will not and cannot work under any system that I know of and even if you get around the ban from entering the USA, you would now need a working visa as an employee. Your partners would have to hire you under an H1B and it would run out in a few years. Of course, there is always an E2 or L1 visa with wsome machinations but applying for any visa would bring up your previous citizenship.
In addition, I presume that you would be wanting to continue the practice during this whole procedure. There would be no break.
Totally impractical in my opinion.
david ingram
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