I am a New Zealand citizen, but have lived and worked in the USA for many years. I'm currently a US permanent resident, and I have just become eligible to apply for citizenship. I'm wondering whether I should apply. I don't see myself living in the USA permanently, and I plan to move back to NZ in the near future, but I guess there's a small chance I would want to move back to the USA in the future. All else being equal, I would apply for US citizenship since I figure it's best to have as many citizenships as possible in this topsy-turvy world. I had thought that one strong reason to get the citizenship is that it would grant me social security benefits at retirement age, but I've since learned that any retirement benefits I might receive from NZ would be reduced in proportion to my US social security benefits, which largely undercut this retirement-based consideration.
My main reason NOT to get the US citizenship is that US citizens must file tax returns on their worldwide income. Even if my NZ income would be exempt from this due to tax treaties between the USA & NZ, it still seems like a drag to have to submit two tax returns per year, and to navigate the various fees and legal complexities involved. E.g. I'd almost certainly have to hire an accountant, which would mean more $$ down the drain. I've also heard that there are certain restrictions on the kinds of investments that US citizens living overseas are able to make.
So as best I can tell there are some minor reasons for me to apply for US citizenship (e.g. backup in case I decide to move back to the US, or in case of major disaster in NZ, and maybe some small retirement benefit), but there's a major reason NOT to apply (i.e. to avoid the stress and expenses of paying tax to the USA). However, I don't quite know how to weigh up these various reasons, or if there are some other reasons I should take into consideration.
Any advice would be appreciated!
