A person wishing to renounce his or her U.S. citizenship must voluntarily and with intent to relinquish U.S. citizenship:
1. appear in person before a U.S. consular or diplomatic officer,
2. in a foreign country at a U.S. Embassy or Consulate;
3. and sign an oath of renunciation
Once you renounce your US citizenship, you will no longer have to pay US taxes. However, the US government does charge a fee of $2,350 to relinquish citizenship.
