Hello, I have a C permit, originally from Norway but also have US citizenship from a period I lived and worked in the US for quite a while.
I have no intention of ever returning to the US and would hope to live in Switzerland for the long term so am planning on renouncing it. Wondered if people on here with similar experiences could knowledge-share with me please?
How efficient was the process at the embassy in Bern?
Did the renoncification notably change your interactions here with banks, mortgage lending etc.?
Did you feel like the process was worth it?
Any good tax advisors you’d recommend?
Did you move all your 401k, investments etc, out of the US and make a clean break?
It went fine for me some years ago. Think it only took an hour/hour and a half max to do it at the embassy when I got my appointment.
Of course the bank was happy and so was I as it meant we could interact with our local bank manager instead of the specialist “nasty Americans” branch that dealt with stuff.
Was for me.
For the tax side I used US Tax Services, their Geneva office. Don’t know if it’s still there, but they have an office in Zurich as well. Not cheap, but that wasn’t my main concern; wanted all the paperwork to be correct.
Thanks for sharing this, really helpful to hear a straightforward experience. Good to know the embassy process can be that quick, and the banking side is definitely something I’ve been wondering about too.
Think about your social security/Medicare, too. You are still due your payments. If SSA knows you are outside the US, they will automatically sign you up to Part A Medicare when you reach 65, but not Part B. You need to opt out of Part A (hospitalisation) and make sure you aren’t auto-enrolled in Part B (in case they mess up).