By Gina Mastrangelo

Americans applying for recognition of their Italian citizenship has been growing in recent years and one of the reasons might surprise you – to avoid paying taxes.

Peter Farina, of ItalyMondo!, a genealogy and citizenship services company, has noticed a growing trend: wealthy Americans getting Italian citizenship and then renouncing American citizenship for tax reasons.

"I don't personally agree it," said Farina "but in the past few years I've noticed a enormous jump in the amount of individuals that were doing it for this reason." Farina added that these people will generally acquire citizenship to a "Tax-Free" zone in South America or Asia for $50,000 – $500,000 to set up residency, but will acquire an Italian passport so they can travel freely without a passport.

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Fonte: The Italian American Journal