Top 9 Financial Benefits Of U.S. Citizenship - Travel - Nairaland
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| Top 9 Financial Benefits Of U.S. Citizenship by mianasadali: 10:20pm On Aug 02, 2022 |
There are many different kinds of people in the world. Some have a lot, and those with very little. Some fall somewhere in between. One group of people that are often overlooked are non-citizens living in America, which can create financial difficulties. Non-citizens may have a difficult time accessing the financial benefits of U.S. citizenship that could help them live a better life. This is because most financial benefits are only available to those who are citizens of the United States. This can create a significant financial burden for non-citizens, as they may have to pay for things like healthcare and education out of their own pockets. According to the American Community Survey 2019, there were 306.5 million citizens and 21.8 million noncitizens in the U.S. About 277.9 million citizens were born in the U.S. Many people are looking for financial stability after the pandemic. One way to find financial stability is to become a U.S. citizen. This helps you to have a solid financial footing and also provides many other benefits. What are the financial benefits of being a U.S. citizen? There are many financial benefits of citizenship, including access to government benefits, lower taxes, and the ability to start your own business. In addition, citizenship gives you the right to vote, which can have a direct impact on financial policies. Also, as a U.S. citizen, you will have access to government-backed financial assistance in the form of loans and grants, and you will be able to live and work in the United States without fear of deportation. Let’s take a look at some of the financial benefits of citizenship. Top 9 Financial Benefits of U.S. Citizenship: There are numerous financial benefits of U.S. citizenship, but we have compiled the top 9 for you. 1. Tax Benefits And Opportunities: Tax benefits are also available to U.S. citizens, including the earned income tax credit, the child tax credit, and the American Opportunity Tax Credit. The earned income tax credit is a refundable tax credit for low -to - moderate-income workers. The child tax credit is a non-refundable tax credit for families with dependent children. The American Opportunity Tax Credit is a partially refundable tax credit for taxpayers who are paying for college costs. 2. Earn More Money: The median income for a family headed by a U.S. citizen is nearly $60,000, while the median income for a family headed by a non-citizen is about $50,000. Immigrants are contributing more to our society and economy. They bring their unique skills with them, which helps the average citizen earn a higher salary as well. So, the financial benefits of being a U.S. citizen include the ability to earn more money. 3. Get Better Terms On Insurance Policies: U.S. citizens often qualify for better terms on insurance policies than non-citizens. This is because insurance companies perceive U.S. citizens as being more stable and less likely to default on their payments. On average, a U.S. citizen pays about 20% less for an insurance policy than a non-citizen. So, being a citizen can lead to significant financial savings. 4. Access To Government Programs: U.S. citizens have access to a variety of government programs, including Social Security, Medicare, and Medicaid. Non-citizens are not eligible for these programs, which can provide financial security during times of illness. Moreover, citizens are also eligible for retirement benefits, which can be fruitful in old age, while non-citizens may not be benefit from these programs. 5. Better Job Opportunities: U.S. citizens often have better job opportunities than non-citizens. This is because employers often prefer to hire U.S. citizens, as they are perceived to be more reliable and more likely to stay with the company for a longer period of time. Due to that, U.S. citizenship often leads to increased employment opportunities and higher wages. In addition, U.S. citizens are more likely to own their own homes than non-citizens. They earn between 50 and 70 percent more than noncitizens in America as a group. Moreover, the employment rate amongst this population is higher when compared with naturalized citizens or native-born people living here without documentation, which means that if you're an employer looking for talented employees, then it might be worth considering hiring someone who doesn't have legal status even though they participate fully at work just like everyone else does every day. 6. Pay Less When Borrowing Money: U.S. citizens often pay less interest on loans than non-citizens. This is because lenders perceive U.S. citizens as being more likely to repay their loans. The naturalization and homeownership rates both increased by around 5% once immigrants were granted American citizenship or had their paperwork processed. In the majority, bank loans were given for better housing, which in turn improved neighborhoods and created more stable communities. 7. The Ability To Vote: U.S. citizens have the right to vote, while non-citizens do not. Voting is an important way to participate in our democracy and have a say in the decisions made by our government. Voting is also a way to hold our elected officials accountable for their actions. Voting often leads to better financial decisions by our government, as officials are more likely to make decisions that are in the best interests of the citizens they represent and who have the power to vote them out of office. Immigration can be a very emotional and sensitive topic, but it doesn't have to make you lose your heritage. Many countries even allow dual citizenship so that the person still feels connected with both countries of origin as well as America! The financial benefits of being a U.S. citizen are just some of the reasons why it can be advantageous to become a naturalized citizen. Other benefits include the ability to travel freely, the ability to sponsor family members for citizenship, and the peace of mind that comes with knowing you are a full-fledged member of American society. So if you're eligible, don't wait—start the process of becoming a U.S. citizen today! How We Can Help You To Get U.S. Citizenship? The United States is one of the wealthiest countries in terms of a U.S. passport that will grant you entry into any country in North America, Europe, or Asia for years to come! We can help you become a citizen of the United States by applying through Passportsandvisas.com. Many questions arise in an applicant's mind in order to apply for citizenship, one must first be eligible and meet certain requirements; this includes passing stringent background checks as well as paying fees that vary depending on their income level at the time they file. Citizenship through our website can help make the process much easier and less stressful because we will guide you through each step and provide you with all the resources needed to complete the application. Applying for citizenship is a big decision, but we can help make it a little bit easier. FAQs: Financial Benefits Of U.S. Citizenship Q: Is it worth it to become a U.S. citizen? Ans: There are many benefits to becoming a U.S. citizen. As a citizen, you will have the right to vote, serve on a jury, and run for office. You can also submit an application for U.S. government jobs and receive government benefits. Becoming a citizen can also help you bring your family members to the United States. There are some requirements that you must meet in order to become a U.S. citizen. You must be 18 years of age or older and have lived in the United States as a permanent resident for at least five years (or three years if you are married to a U.S. citizen). The ability to speak, read, and write English is also required. Q: Can U.S. citizenship be taken away? Ans: Yes, U.S. citizenship can be taken away, but several requirements must be met before it is possible to revoke someone's citizenship. Typically, the process of revoking citizenship is called "denaturalization," and it can only be pursued by the federal government in cases where the person has been convicted of certain crimes or if they lied on their naturalization application. Q: Does the U.S. allow dual citizenship? Ans: Yes, the United States allows dual citizenship. You can become a citizen of the United States while still keeping your citizenship in another country. There are certain requirements that you must meet to qualify for dual citizenship, such as being born in the United States or having a parent who is a U.S. citizen, but it is possible to have dual citizenship status. There are some benefits to having dual citizenship, such as being able to live and work freely in both countries and being able to travel between them with ease. Dual citizens also have the right to vote and own property in both countries. |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Abfinest007(m): 10:25pm On Aug 02, 2022 |
Vote obi he will lay d foundation 4 a beta 2moro 2 Likes |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 8:43am On Aug 03, 2022 |
Good Analysis you wrote up there. But the truth is all good countries offer all the mentioned above. There is nothing special becoming an American citizen.. If you are an entrepreneur, financial analyst or into business, you will know in the financial aspect, its a huge burden and that is why good investors and entrepreneurs are renouncing their US Citizenship. You never mentioned how the US government will follow their citizens everywhere because of tax. You pay worldwide income and that is why there is a special form all banks gives you to fill as a US citizen. To some extent, US passport is a burden, believe it or not, Canada is almost going in the same direction. I have a daughter who is already a Portuguese by birth and a Brazilian son by birth and I currently have a Brazilian PR, and I prefer walking through Citizenship by neutralization either in Portugal or Brazil. My kids already have the opportunity to live anywhere in Europe and South America. I consider the two passport than an American Citizenship... Nobody hates a Brazilian, American passport carries some unnecessary attention. Is it free education or cheap schools, free healthcare, job opportunities, quality of life? etc, all good and progressive countries have it, also it's citizens that vote in an election everywhere.. Just give us cons of holding an American passport in regarding your financial aspect and let's compare. |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by expertman(m): 3:56pm On Aug 03, 2022 |
Nice one boss . I am.sure with your Brazilian PR you can also travel to many countries without visa ? Can you please enlighten me about countries that u have visited with your PR card without visa? Any likely questions of such countries entry port? I have a close relation who is also going on Brazilian PR oluflourish: |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by AfonjaBoston: 5:32pm On Aug 03, 2022 |
This is crap. Just plain crap. You call income tax return a benefit? This person must be smoking tortoise shit. The burden of paying taxes even while working overseas is not and will never be a benefit. Better terms on insurance  HahahahahaAccess to govt program? Maybe some but it is relative. This agents just come online to deceive stupid people 1 Like |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Chloraseptic: 6:00pm On Aug 03, 2022 |
Nigerians in the USA even without green card have more benefits than we the citizens of Nigeria in Nigeria 5 Likes |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 11:00am On Aug 05, 2022 |
expertman: 1 Like |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 11:03am On Aug 05, 2022 |
AfonjaBoston: Yah, this is just crap I even prefer to be a Green Card holder or PR to been a US citizen. Well, US have never been in my mind |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 11:06am On Aug 05, 2022 |
Chloraseptic: Well, I will not totally agree with you on this. There are some that live better than those even in US |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by expertman(m): 11:21am On Aug 05, 2022 |
Thanks boss but for other south American countries like Costa Rica, Ecuador, Belize, Bolivia , Paraguay, Uruguay u sure don't require visa right? Just your PR resident card ? May I know what questions and how the point of entry looks like when traveling with your naija Pali and Brazil Pr card pls? [quote author=oluflourish post=115404664][/quote] |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Chloraseptic: 11:57am On Aug 05, 2022 |
oluflourish: We are talking if Government benefits here not the ones you struggle to get yourself |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 12:34pm On Aug 05, 2022 |
expertman: 1 Like |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Nobody: 2:34pm On Aug 05, 2022 |
Mianasadali let's assume I want to buy it How much is it? Nd how long will the processing time take? |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 8:51pm On Aug 05, 2022 |
leody: Like buy what? Passport? Are you kidding, like seriously? Please let nobody deceive you that you can buy a passport, be fearful of jail term atleast |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Nobody: 9:55pm On Aug 06, 2022 |
oluflourish:I mean if someone want to buy their citizenship how much will it Cost?. |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by 1stGenAmerican(f): 10:11am On Aug 07, 2022 |
leody: Citizenship is contingent on certain things but an EB5 Visa requires an investment of approximately $900k. 1 Like |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Nobody: 8:04am On Aug 08, 2022 |
1stGenAmerican:So after the investment I'll be granted their citizenship? |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by 1stGenAmerican(f): 10:42am On Aug 08, 2022 |
leody: It’ll take a requisite time period but yes, |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Nobody: 10:49am On Aug 08, 2022 |
Visa application |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by HOKIM(m): 12:40pm On Aug 08, 2022 |
oluflourish: I keep telling people that too... USA is a mad place... the media has so designed the American dream that ,it has becoming increasingly shocking, I have seen great folks lose their lives in the quest of getting into America.... Some even have PRs in nice Countries in South America, had nice jobs but still chose to lose their lives trying to get to The USA... its sad... |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by HOKIM(m): 12:43pm On Aug 08, 2022 |
oluflourish: Why in Green Banana's sake will I need an American passport when Barbados passport can do pretty much the same thing and I wouldn't pay Income tax... visa free to All S/America countries, Asia countries, All Central and North America countries except ,The USA and ALL EUROPEAN COUNTRIES?? |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by HOKIM(m): 12:46pm On Aug 08, 2022 |
oluflourish: Well technically, people buy Saint Kitts and Nives passport, Question should be can he Afford it...?? Hin get over $300k ? |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by HOKIM(m): 12:48pm On Aug 08, 2022 |
Chloraseptic: I agree 100% with You... there is absolutely no benefit for being a Nigerian citizen except you have a politician father or you are rich, thus, can buy your way around corruption.. 1 Like |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 2:58pm On Aug 08, 2022 |
HOKIM: Yes I know that people buy Citizenship by investment, or residency through investments.. Even with US residency by investment, how many people will be able to afford it? Not so many will even donate about $150k excludes other fees to get a passport in the Caribbean. I don't see passport through investment sustainable in the long run. Some countries in Europe are trying to kick against it due to some countries that would just want to have access to their countries anyhow |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by 1stGenAmerican(f): 10:26pm On Aug 08, 2022 |
leody: The path to citizenship begins. It usually takes 5 years to complete. |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by HOKIM(m): 10:50pm On Aug 08, 2022 |
oluflourish: Well, just to let you know... its been around for a very long time... and will continue to exist for a very long time... I stay in the Caribbean, Barbados precisely, so I know wat I'm talking about.... these islands are tax haven for the rich, and that's how these countries make money outside tourism.... problem is, the guy wey ask the question fit afford am?? 1 Like |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Nobody: 8:24am On Aug 09, 2022 |
1stGenAmerican:5yes ? Then it's not worth it.i Thought the citizenship will be granted after the investment. |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Nobody: 8:35am On Aug 09, 2022 |
HOKIM:wait let assume the guy have the money and bought the citizenship. So he's going to wait for another 5 yrs before he will be granted the citizenship? |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 8:40am On Aug 09, 2022 |
HOKIM: Sure, its been long for a long time and countries generate revenue through it, the Russia/Ukraine war made EU to consider putting embargo on those that boughy Citizenship by investments from the Caribbean having access to their country, there is so much background check and the prices are even going up. Am an expert in residency and Citizenship going offshore and investment... I will refer you to this post when that happens. Sale of passports from Caribbeans may not be sustainable in 10- 15 years from now. Well residency through investment might be sustainable because you have to reside, learn the language and people's culture, have an attachment and walk up to Citizenship |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 8:47am On Aug 09, 2022 |
leody: No he gets his Citizenship in 2-6 months if he went for Citizenship by investment ranging from $150k to $500k But if went through Residency by investment it take him 5yrs excludes processing and waiting period and will still need to immerse himself with the language requirements., will still cost him between $350k to $1.2m 1 Like |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by Nobody: 8:53am On Aug 09, 2022 |
oluflourish:Investment is better but can he also live in the US or go back to his home country? |
| Re: Top 9 Financial Benefits Of U.S. Citizenship by oluflourish: 9:02am On Aug 09, 2022 |
leody: Sure you have the right to live where you make your investment and also to return to your country. Reason people go for Citizenship by investment is for diversification of passport portfolio, investments, and tax benefits. Some with poor passport holders also buy Citizenship by investment. Most of this Caribbean passports are tax Haven, and if you are a high net worth individual, you can save yourself of millions of dollars in tax. Imagine the government taking away from you $1m in tax. |
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