Thu May 17, 2012, 09:17 AM

Segami (5,769 posts)

Facebook’s Eduardo Saverin Likely BARRED FROM RE-ENTERING U.S

“...He’s fucked,” said an immigration lawyer based in Los Angeles. “He must have gotten horrendous advice....”

" Facebook co-founder Eduardo Saverin’s decision to renounce his U.S. citizenship just in time to avoid a large tax payment essentially means he will not be able to re-enter the United States again, immigration experts tell TPM.

“There’s a specific provision of immigration law that says that a former citizen who officially renounces citizenship, and is determined to have renounced it for the purpose of avoiding taxation, is excludable,” said Crystal Williams, executive director of the American Immigration Lawyers Association. “So he would not be able to return to the United States if he’s found to have renounced for tax purposes.” The provision of law isn’t usually enforced, added Williams, “however, this guy is so high profile that this is probably going to be the test case.”

Saverin’s only path back to living in the U.S., experts contend, would involve persuading the authorities that his decision was not about avoiding taxes — an argument the 30-year-old billionaire is apparently angling to make. “This had nothing to do with taxes,” Saverin told the New York Times. “I was born in Brazil, I was an American citizen for about 10 years. I thought of myself as a global citizen.”

Two immigration lawyers said his explanation hardly passes the laugh test. Saverin’s move was timed to the initial public offering of shares of Facebook stock. The valuation of the Facebook IPO explodes Saverin stake in the social media company to some $3 billion, on which avoiding taxes could save him at least tens — if not hundreds — of millions of dollars. Nor does it help his case that he relocated to Singapore, which levies no taxes on those earnings.

Democratic senators mobilized Thursday to crack down on Saverin and other tax dodgers.

cont'

http://tpmdc.talkingpointsmemo.com/2012/05/facebook-eduardo-saverin-ipo-citizenship-singapore-immigration.php?ref=fpnewsfeed

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70 replies	Author	Time	Post
Facebook’s Eduardo Saverin Likely BARRED FROM RE-ENTERING U.S (Original post)	Segami	May 2012	OP
I guess that's one less vote for Romney this Fall.	FSogol	May 2012	#1
Like he frigging cares	dballance	May 2012	#2
This message was hidden by jury decision.	dairydog91	May 2012	#7
Pssst, Inspector Clousaeu...his business is resident in the United States. nt	Romulox	May 2012	#8
And?	dairydog91	May 2012	#14
That may have some bearing on his desire to be present in the United States.	Romulox	May 2012	#15
Except, through the wonders of the internet and telephone, one does not need to enter...	dairydog91	May 2012	#19
And yet Mr. Saverin hasn't conducted his business via teleconference from Singapore, up to now.	Romulox	May 2012	#22
You are probably correct in saying that Saverin will have little trouble reentering the US.	dairydog91	May 2012	#24
Any country that uses flogging	leftynyc	May 2012	#39
Which business?	MattSh	May 2012	#28
OK. I don't know the guy's bio. Still, it's silly to act outraged that he might wish to return	Romulox	May 2012	#30
Singapore - Disney Land with the death penalty	GoneOffShore	May 2012	#53
If he thought of himself as a "global citizen" then...	ProfessionalLeftist	May 2012	#3
"America: Love It or Leave It"	TahitiNut	May 2012	#4
Just another perfect example of greedy rich 1% bastards that refuse to pay taxes to	xtraxritical	May 2012	#34
This is why it makes me so mad. Use our resources and then leave without giving back.	efhmc	May 2012	#40
except, this is not true, the whole story is made up by politicians and the news	naaman fletcher	May 2012	#48
The chances of this guy being barred from re-entry are NIL. It just takes a few thousand $ to get	Romulox	May 2012	#5
Barred even as a tourist or business traveler?	mainer	May 2012	#6
The article said that he could apply for a visa but he would first have to admit he renounced his	pacalo	May 2012	#10
Shouldn't even be allowed to receive a fucking picture.	lonestarnot	May 2012	#11
Zero chance. nt	Romulox	May 2012	#16
Good! And the rest of the asswipes intentionally avoiding paying US taxes they owe should receive	lonestarnot	May 2012	#9
Good. Nt	abelenkpe	May 2012	#12
Boo-hoo. If he doesn't want to pay US taxes on his billions then he can stay out.	sinkingfeeling	May 2012	#13
The Facebook IPO does not enrich him personally until he is paid salary or sells his personal stock.	xtraxritical	May 2012	#35
The exit tax is assessed on unrealized gains as of the day before	spooky3	May 2012	#42
Excuse me, but as of March 2012 (prior to IPO), his net worth was $2 billion.	sinkingfeeling	May 2012	#45
Ta-ta, Tuttle	alcibiades_mystery	May 2012	#17
Apparently he skimped on competent legal advice as well.	Nuclear Unicorn	May 2012	#18
Good. He's a traitor in my book.	denverbill	May 2012	#20
He already "paid his taxes" in full. That's what the exit tax does.	dairydog91	May 2012	#23
Several criticisms are wrong here.	spooky3	May 2012	#38
Apparently, you completely missed the point of what this libertarian douchebag is doing.	denverbill	May 2012	#46
Wow, xenophobic much?	Spider Jerusalem	May 2012	#49
good	warrior1	May 2012	#21
"global citizen."	Baitball Blogger	May 2012	#25
THIS IS ALL A BS STORY	naaman fletcher	May 2012	#26
Right, see my #35 above.	xtraxritical	May 2012	#36
not quite right	spooky3	May 2012	#41
Right	naaman fletcher	May 2012	#47
two separate issues	spooky3	May 2012	#51
I do this for a living	naaman fletcher	May 2012	#52
Can you explain 1) why the Dem. Senators and others are getting bent out of shape	spooky3	May 2012	#56
well,	naaman fletcher	May 2012	#67
lol	iamthebandfanman	May 2012	#27
What do you mean "throw him out"?	former9thward	May 2012	#33
Ha ha. No Olive Garden for him (nt)	Nye Bevan	May 2012	#29
The way he was portrayed in the movie	DiverDave	May 2012	#31
he looks like a vampire.	Odin2005	May 2012	#32
You beat me to it!	ScreamingMeemie	May 2012	#50
Shell game.	Trillo	May 2012	#37
Sayonara asshole!	ellie	May 2012	#43
Fuck off, Saverin you greedy traitor!	librechik	May 2012	#44
I have to tell you, I just don't see what the big deal is and the amount of outrage expressed here	avebury	May 2012	#54
I don't get the anger, either.	mainer	May 2012	#57
The reason is that he OWES HIS FAIR SHARE	flamingdem	May 2012	#58
And how is that different from what	avebury	May 2012	#68
And if it wasn't for the US granting him and his parents asylum b/c	beac	May 2012	#63
And I have to tell you that if you are honestly renouncing your citizenship b/c	beac	May 2012	#62
He wants back in? NO!	aquart	May 2012	#55
I really dont think he is going to care much. He has $3 Billion and the entire rest of the world	stevenleser	May 2012	#59
Should've paid your taxes!	Initech	May 2012	#60
Face, meet Book	RobertEarl	May 2012	#61
Oh right, NOW they're getting tough on tax evaders?	Canuckistanian	May 2012	#64
Would you give up your citizenship for a couple hundred million dollars?...nt	SidDithers	May 2012	#65
Heck yeah and wouldn't	avebury	May 2012	#69
To be a citizen of, say, New Zealand? EU?	mainer	May 2012	#70
He's a billionaire, he will not have any problem getting into the US.	sabrina 1	May 2012	#66

Response to Segami (Original post)

Thu May 17, 2012, 09:25 AM

FSogol (16,037 posts)

Facebook’s Eduardo Saverin Likely BARRED FROM RE-ENTERING U.S

1. I guess that's one less vote for Romney this Fall.

2. Like he frigging cares

8. Pssst, Inspector Clousaeu...his business is resident in the United States. nt

14. And?

15. That *may* have some bearing on his desire to be present in the United States.

19. Except, through the wonders of the internet and telephone, one does not need to enter...

22. And yet Mr. Saverin hasn't conducted his business via teleconference from Singapore, up to now.

24. You are probably correct in saying that Saverin will have little trouble reentering the US.

39. Any country that uses flogging

28. Which business?

30. OK. I don't know the guy's bio. Still, it's silly to act outraged that he *might* wish to return

53. Singapore - Disney Land with the death penalty

3. If he thought of himself as a "global citizen" then...

4. "America: Love It or Leave It"

34. Just another perfect example of greedy rich 1% bastards that refuse to pay taxes to

40. This is why it makes me so mad. Use our resources and then leave without giving back.

48. except, this is not true, the whole story is made up by politicians and the news

5. The chances of this guy being barred from re-entry are NIL. It just takes a few thousand $ to get

6. Barred even as a tourist or business traveler?

10. The article said that he could apply for a visa but he would first have to admit he renounced his

11. Shouldn't even be allowed to receive a fucking picture.

16. Zero chance. nt

9. Good! And the rest of the asswipes intentionally avoiding paying US taxes they owe should receive

12. Good. Nt

13. Boo-hoo. If he doesn't want to pay US taxes on his billions then he can stay out.

35. The Facebook IPO does not enrich him personally until he is paid salary or sells his personal stock.

42. The exit tax is assessed on unrealized gains as of the day before

45. Excuse me, but as of March 2012 (prior to IPO), his net worth was $2 billion.

17. Ta-ta, Tuttle

18. Apparently he skimped on competent legal advice as well.

20. Good. He's a traitor in my book.

23. He already "paid his taxes" in full. That's what the exit tax does.

38. Several criticisms are wrong here.

46. Apparently, you completely missed the point of what this libertarian douchebag is doing.

49. Wow, xenophobic much?

21. good

25. "global citizen."

26. THIS IS ALL A BS STORY

36. Right, see my #35 above.

41. not quite right

47. Right

51. two separate issues

52. I do this for a living

56. Can you explain 1) why the Dem. Senators and others are getting bent out of shape

67. well,

27. lol

33. What do you mean "throw him out"?

29. Ha ha. No Olive Garden for him (nt)

31. The way he was portrayed in the movie

32. he looks like a vampire.

50. You beat me to it!

37. Shell game.

43. Sayonara asshole!

44. Fuck off, Saverin you greedy traitor!

54. I have to tell you, I just don't see what the big deal is and the amount of outrage expressed here

57. I don't get the anger, either.

58. The reason is that he OWES HIS FAIR SHARE

68. And how is that different from what

63. And if it wasn't for the US granting him and his parents asylum b/c

62. And I have to tell you that if you are honestly renouncing your citizenship b/c

55. He wants back in? NO!

59. I really dont think he is going to care much. He has $3 Billion and the entire rest of the world

60. Should've paid your taxes!

61. Face, meet Book

64. Oh right, NOW they're getting tough on tax evaders?

65. Would you give up your citizenship for a couple hundred million dollars?...nt

69. Heck yeah and wouldn't

70. To be a citizen of, say, New Zealand? EU?

66. He's a billionaire, he will not have any problem getting into the US.

15. That may have some bearing on his desire to be present in the United States.

30. OK. I don't know the guy's bio. Still, it's silly to act outraged that he might wish to return