Songwriter Denise Rich Renounces U.S. Citizenship
The Grammy-nominated socialite, who made news in 2001 for helping win a pardon for her ex-husband from President Clinton, plans on living in London.
Denise Rich, the Grammy-nominated songwriter, has renounced her U.S. citizenship.
The move appeared under her maiden name of Denise Eisenberg in the Federal Register on April 30.
It was the same list that Facebook founder Eduardo Saverin was on when he made headlines for giving up his American citizenship.
Rich, a native-born American, also holds Austrian citizenship through her late father.
Rich plans on living in London, according to comments made to the Daily Mail by her Hollywood, Florida-based attorney Michael Heidt.
The move is likely to save Rich millions of dollars in both U.S. and foreign taxes. England exempts “non-domiciled” residents from paying tax on earnings outside the United Kingdom and Austria offers tax breaks to citizens who spend more than half the year outside the country.
Rich will have to pay an “exit tax” to the U.S. government but will be exempt from most future American taxes.
Rich received intense scrutiny in 2001 for her role in helping ex-husband Marc Rich secure a presidential pardon from Bill Clinton on his last day in office.
Marc Rich fled the U.S. in 1983 after being indicted on tax evasion, racketeering and illegal trading with Iran.
A 2002 investigation by the House of Representatives concluded that Rich’s donations to Clinton’s campaign and presidential library influenced his decision to grant the pardon.
Rich wrote songs for numerous artists, including Aretha Franklin, Jessica Simpson, Mandy Moore, Celine Dion and Patti LaBelle.