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Exactly what I was wondering, thanks. I assume you have to renounce before acquiring a new citizenship? No thanks.
No, other way around. Most countries won't even allow you to renounce if you don't have another citizenship.
The US also charges $10,000 dollars to accept your renunciation. The US is one of the few countries that taxes its citizens in foreign countries so there's a big incentive to renounce when you get citizenship in a better place. There is a substantial tax deduction for the first ~150K you earn in another country, as long as you spend less than 10 days in America or traveling and pay taxes in that country, as long as that country has such an agreement with the US.
It's $2350 to renounce, not $10k.
Most countries tell you to renounce after you gain the new so it isn't a problem. A few allos dual citizenhip. (maybe most allow dual? I seem to recall that but it is outside where I'm sure)
If you do that couldn't you just not let them know about the new citizenship? How does that work?
It's very difficult to enforce. I've heard of cases where people like show the embassy a passport of a citizenship they said they renounced by accident, and were just sternly told to renounce it, other cases where their new citizenship was revoked.
generally it isn't enforced