Renouncing US citizenship

This change is common knowledge for many and as noted happens in many forms (globalization), but the following is another way to frame changing ownership patterns and attitudes about who you might be trusting to make the rules:

 
NEW CORPORATE TAX SHELTER: MERGER ABROAD American corporations increasingly are reducing their tax bill by buying a foreign company and effectively renouncing their United States citizenship, DealBook’s David Gelles reports. The California chip maker Applied Materials, for example, will save millions of dollars a year thanks to its merger with a smaller Japanese rival: the merged company is reincorporating in the Netherlands.
While reincorporating in low-tax havens like Bermuda, the Cayman Islands or Ireland has been going on for decades, regulation has made the process more onerous. Companies can no longer open a new office abroad or move to a country where they do business. Instead, most of these maneuvers – known as “inversions” – are achieved through multibillion-dollar cross-border mergers and acquisitions, Mr. Gelles reports. Robert Willens, a corporate tax adviser, estimates there have been about 50 inversions over all, with 20 occurring in the last year and a half. Most of those were done through mergers.