More People Gave Up Their American Citizenships In 2020 Than Ever Before In History

It's easy to say 2020 has been one of the hardest years humanity has ever faced, and it seems that some in the United States would say it was even bad enough to fully give up their citizenship.

A report done by Bambridge Accountants New York revealed that the U.S. saw a whopping 234% increase in the number of people giving up their citizenship when compared to 2019's numbers.

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Increasingly Americans abroad have had enough of President Trump and the administration of the last four years. Alistair Bambridge, Bambridge Accountants NY

New data documented by the IRS shows that 6,045 American citizens decided to give up their citizenship in just the first nine months of this year, which is a pretty steep increase from last year when just 2,072 people made the difficult decision.

The high number comes as quite a shock as Americans haven't been able to book appointments to renounce citizenship at many U.S. embassies since March due to COVID-19.

The year which previously held the record was 2016 — the same year Trump was elected. In all, 5,411 people decided to no longer be citizens of the United States.

Alistair Bambridge believes the Trump presidency is responsible for the high number.

"For those individuals, the situation is so serious that they are willing to give up their citizenship so they are not linked to the political policies in the U.S.," said Bambridge.

In order to renounce your citizenship, you must pay the United States Government a large fee of $2,350, and if you're overseas you must do so in person at a U.S. Embassy.