The good news here, is that many countries have double taxation treaties. So that you don't get taxed by 2 countries for the same income.
https://en.wikipedia.org/wiki/Tax_treaty
The problem is if you do business in tax free zones for example...
Only to a point. I think the limit is around $100,000.00 nowadays. Anything over that gets taxed by both the country you live in and the U.S. (if you're a U.S. citizen).
I'm currently in the process of moving out of the U.S. to Japan. I'm considering ditching my U.S. citizenship for this reason.
Do you have Japanese citizenship? Ending up stateless doesn't seem worth it.
I may be wrong, but I believe if not so the US legally can't allow him to renounce his citizenship.
(Allowing a person to become stateless is illegal if I remember correctly, but my memory's ever-so-slightly fuzzy around this topic.)
My wife is Japanese and obtaining citizenship would be fairly easy. I agree on not ending up stateless.
Note that on certain US visa applications, they ask you whether you've ever renounced US citizenship for the purposes of avoiding tax.
I wonder if it would be possible to state "no, I renounced due to not wanting to be associated with Donald Trump" (or, if you're leaning to the Republican side, Barack Obama)...how are they going to prove otherwise?
FWIW, I would much rather be in the US than Japan if China becomes aggressive. Keep your options open. History is long. Pax Americana may be coming to an end.