February 14, 2012

US Immigration and Citizenship Planning for High Net Worth Clients

Category: Tax
  • US Immigration Planning Overview
    1. Reconciling immigration and tax objectives
    2. Nonimmigrant visas and the Substantial Presence test for tax residency
    3. Permanent resident status and the Green Card test for tax residency
    4. Permanent resident status and the Exit Tax
  • Nonimmigrant Visa Options
    1. Business Visitors and Tourists
    2. TN under NAFTA
    3. H-1 based on education or work experience
    4. L-1 for intracompany transferees
    5. E-1 for substantial trade and E-2 for substantial investment
    6. O-1 for athletes, entertainers and others with extraordinary ability
    7. Visas that provide exemption from Substantial Presence test
  • Permanent Resident Status through Family Sponsorship
    1. Spouse, parent or child of US citizen
    2. Spouse or child of permanent resident
    3. Brother or sister of US citizen
  • Permanent Resident Status through Employment and Labor Certification
    1. Labor certification to test the US job market
    2. Advanced degree professionals
    3. Skilled workers and professionals
    4. Unskilled workers
  • Permanent Resident Status through Employment without Labor Certification
    1. Extraordinary ability
    2. Outstanding professors and researchers
    3. Multinational executives and managers
  • Permanent Resident Status through Investment
    1. $500,000 or $1,000,000 equity investment
    2. Sole owner or multiple owners
    3. Active or passive owner
    4. Create or preserve 10 jobs per investor
    5. Indirect job creation through Regional Center
    6. Conditional resident status for 2 years
  • Permanent Resident Application Process
    1. Labor Certification, if needed
    2. Immigrant Visa Petition
    3. Adjustment of Status or Immigrant Visa Application
    4. Converting conditional resident status to permanent resident status
  • Green Cards and the Exit Tax
    1. Long-Term Residents, Expatriates and Covered Expatriates
    2. Revocation or Abandonment of permanent resident status
    3. Maintaining permanent resident status while residing abroad
    4. Surrendering permanent resident status before becoming Long-Term Resident
    5. Switching to nonimmigrant visa status before becoming Long-Term Resident
    6. Switching to US citizenship to avoid abandonment of permanent resident status
  • SURPRISE! Your Client May Be an American Citizen and Not Know It
    1. Citizenship by birth in the US
    2. Citizenship by birth abroad to US citizen parent
    3. Naturalization and derivative naturalization of children
    4. Retroactive presumption of intent to retain US citizenship
    5. Three generations of Accidental American Citizens
    6. How to spot Accidental American Citizens
  • Terminating American Citizenship
    1. Confirm or acquire another citizenship
    2. Obtaining citizenship through investment
    3. Plan for travel without US passport
    4. Understand consequences of expatriation
    5. Confirm not "excludable" from US on criminal or medical grounds
    6. Understand Reed Amendment exclusion ground for tax expatriates
    7. US immigration planning – visiting, working or residing in US
    8. Renunciation, Relinquishment and other means of expatriation
    9. Difficult cases – children, young adults or diminished mental capacity
    10. Procedure and timing for terminating citizenship

    • See Seminar Details for more information.