There's no penalty, per se.
You just need a visa if you want to come back to visit, etc.
PROFESSOR OF IMMIGRATION LAW for over 10 years -- This blog posting is offered for informational purposes only. It does not constitute an attorney-client relationship. Also, keep in mind that this is an INTERNET BLOG. You should not rely on anything you read here to make decisions which impact on your life. Meet with an attorney, via Skype, or in person, to obtain competent personal and professional guidance.
Hello. A permanent resident who abandoned his residency may lose his right to permanently leave and work in the US. You contact a US Immigration Lawyer to evaluate your options if you want to avoid losing your green card.
Once you abandon your residency you can not enter the US unless you obtain a visa, you no longer can qualify for citizenship, and in most cases taxes paid if employed will not go toward your retirement as part of SS, and if in US you must leave before being subject of deportation and getting a 10 years bar from re entering.
No real penalty, only you can no longer live/work in the US. You can always re-apply for residency. I would strongly encourage the person considering abandoning their residency to consult an immigration attorney to see if they have other alternatives.
The "penalty" is that you will no longer be a lawful permanent resident, and unless you qualify under a different immigration benefit, then the only other option is temporary trips to the US on a visitor visa if you are approved for a visitor visa.
Angelique Montes, Esq., Immigration Attorney of Montes Law Firm, PLLC in Houston, Texas. This is not legal advice and a client-attorney relationship is not created. The above is intended only as general information, and does not constitute legal advice. You must speak with an attorney to discuss your individual case.