THIS WEEK ABROAD
In case you haven’t heard, a U.S. senator is proposing to ban dual citizenship.
Also, our new YouTube provides some savvy wealth hacks that all expats and nomads should consider.
We have all the details in this week’s newsletter.👇
***NOTE ON THE 2026 TAX GUIDE***
Last week, several readers reached out to inform us that the download link to our 2026 tax guide, originally sent on November 25, is no longer working. If you didn’t get a chance to download the guide, you can do so through this archived post. Let us know if you have any trouble!
Must-Know News
🏛️ NEW BILL PROPOSES BAN ON DUAL CITIZENSHIP
Last week, Senator Bernie Moreno of Ohio proposed the Exclusive Citizenship Act of 2025, a law that would eliminate dual citizenship for U.S. nationals. (Yes, this is real.)
Under current U.S. law, there are no restrictions on acquiring second, third, or fourth passports. Although nobody knows exactly how many dual U.S. citizens are out there, some estimates place the number as high as 30-40 million.
Details of the Bill
The Exclusive Citizenship Act of 2025 would reverse that legal framework. The bill states:
Anyone who currently holds another citizenship would have one year to renounce it. Failure to renounce within that period would be treated as a voluntary loss of U.S. citizenship.
Anyone who acquires another citizenship in the future would automatically lose U.S. citizenship at the moment the new one is granted.
The Impact on Expats
For Americans abroad, the consequences would be significant.
Many expats rely on a foreign passport for long term residency and stability. At the same time, most want to keep their U.S. passport to visit family or to return in the future.
Renouncing citizenship is permanent, and there is no guarantee a former citizen will ever be allowed back into the United States. Obviously, this would really put expats between a rock and hard place.
Should We Be Concerned?
In a word, no.
First, the bill is unlikely to even make it out of committee, let alone pass the House and Senate.
Second, even if the bill did somehow become law, it clearly runs afoul of Supreme Court precedent. (In the 1967 Afroyim v. Rusk case, the Court ruled that citizenship is constitutionally protected under the Fourteenth Amendment and that Congress does not have the power to take it away.)
The Bigger Picture
Although the bill appears dead on arrival, it reflects a broader trend.
Governments around the world are tightening rules around citizenship, residency and taxation. The great opportunities established in prior generations? They’re are going the way of the dodo.
Expats and digital nomads are increasingly affected by policy changes that would have been unthinkable just a few years ago. For anyone eyeing great tax, residency, and passport deals, now is the time to get on that.
Video of the Week
WEALTH HACKS OF MILLIONAIRE NOMADS
If you had $1 million and wanted to live abroad, how would you structure your finances to minimize taxes and protect your wealth?
For many U.S. expats, this is — as they say — a good problem to have. But is also a real challenge, because many expats find themselves managing businesses and retirement accounts from abroad.
In this video, we break down how financially successful Americans can organize their assets intelligently, legally, and efficiently.
Whether you’re a multi-millionaire or a high-earning remote worker, this video gives you a framework to live abroad in a tax-efficient way, protect your wealth, and maintain control over your finances while enjoying the freedom of an expat lifestyle.
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