My Filipina Wife has been a US Citizen for 12+ years now. We've always intended to have her apply for dual citizenship, and I just started to look into the details.
Can someone confirm what I found?
Dual citizenship provides little beneift and actually opens you up to double taxation. Each country (US and Philipines) will treat any income as if you are their exclusive citizen.
It appears that applying years before returning to the Philipines has some unintended concequences. (For example, the need to disclose and pay Philippine Taxes on US-Earned Income).
As I read further, It seems there is a visa alternative for former Philippine Citizens called the 13g. "13g Commonly called the Balikbayan Visa- For former natural-born Filipino citizens and their dependents who have naturalized in a foreign country and wish to return to the Philippines."
I always expected to do a 13a... but I had to ponder why any Filipino spouse would go bother with a 13g.... when dual-citizenship is almost easier. The only answer I can find is "Taxes".
Does anyone know if that checks out? (I thought I already asked this, but maybe I only wrote the post in my head!)
Thanks in advance
-Asawa
Can someone confirm what I found?
Dual citizenship provides little beneift and actually opens you up to double taxation. Each country (US and Philipines) will treat any income as if you are their exclusive citizen.
It appears that applying years before returning to the Philipines has some unintended concequences. (For example, the need to disclose and pay Philippine Taxes on US-Earned Income).
As I read further, It seems there is a visa alternative for former Philippine Citizens called the 13g. "13g Commonly called the Balikbayan Visa- For former natural-born Filipino citizens and their dependents who have naturalized in a foreign country and wish to return to the Philippines."
I always expected to do a 13a... but I had to ponder why any Filipino spouse would go bother with a 13g.... when dual-citizenship is almost easier. The only answer I can find is "Taxes".
Does anyone know if that checks out? (I thought I already asked this, but maybe I only wrote the post in my head!)
Thanks in advance
-Asawa