Went to a PWC talk about Global transparency with regards to tax and what was interesting to share is that now you have to weigh the consequences of obtaining a US citizenship, nothing is free
The main reason why people travel to have their kids in the US is to obtain citizenship for ease of travel, access to affordable education, for all these great things, the US has a global tax regime which means that as long as you are a citizen you pay taxes
Also you have to think twice before you put any assets in your child's name , this also applies to minors because then your financials are open to the US government and that's just by dashing your US citizen child shares
As a result of the Panama papers, there is now a common reporting standard which financial institutions globally automatically exchange information, Nigeria has agreed to join in principle, regardless for a US citizen all your info is already shared with the US government
Other 1st world countries might grant exemptions if you are not resident citizen and Nigeria is a tax haven. So weigh your options - Ease of travel and good education comes at a cost that's not just at birth and ask questions before putting any assets in that child's name
