[sunilch]

Originally Posted by Kanna_8118

Many people who living in U.S for more than 3-4 years tend to buy a house there and invest in other assets, coming back to India they need to liquidate there assets and transfer them; as you have seen first hand the challenges of people who came back to India, I am keen to know what taxes they had to pay, any suggestions you can give to people who are coming back (without making unknown financial blunders).

More importantly what's the psychological toll on children from relocating. From my observations teenagers will never-ever agree on going back to India, more persistent as they age. Is there any particular "threshold age" before which relocating back to India doesn't effect them much.

Buying a house in US is tied to two things: 1) You want to settle down here for long and don't foresee or have any VISA issues.
2) You are not very mobile with your job - Non-IT, being a professor at a University, etc.

So the pool of folks who want to come back after 4-6 years and yet buy a house in US is small. I did have a friend who had to run bank home and had to liquidate his assets and faced challenges there. Took a hit on some and kept others for sale at a later date. The house can be sold at a later date and given on rent tentatively - may help in generating USD income on the side. Not sure about legal complications though.

For UAE, non of my knowns have ever bought a house there. It is always a rented place - be it 3 years or 30 years. However, most of those in UAE do eventually come back to India when they retire for a more peaceful life. Many such kids study in India either for a specific degree or simply the cost benefits here in India.

None of my friends had kids when they were in US. They all delayed their family planning by a few years for this reason. They did not want the kids' refusal to relocate to India as a blocker. So if that is the case, then the threshold could be simply 2-3 years of kids' age - before they start schooling.

[tsk1979]

TLDR ; Chose based on your situation, and calculate risk based on statistics rather than news channels geared towards eyeballs and viewership from target demographics

Long answer below

Originally Posted by COMMUTER

I am hesitant to relocate solely for the welfare of the kids. The education system has crumbled to a point where their supreme court judge(Harvard) can't define who a woman is!

Don't let that trouble you. We Indians in USA aim for MIT. Much better.

Jokes apart. Do not base your worldview on New Channels and online forums. For example India is a very bad place to raise your kids if you are a daily wage earner. But its awesome of you are a VP in a blue chip company.

The entire world is like that. It depends on what you are where you are. So if you plan to hop on a boat to Mexico and then make the trek across Arizona? Well don't do it.

But if you have a good tech job lined up, neither healthcare nor day to day fuel/car etc., cost is much.

Only problem is buying a house is out of reach in many cities for many people, even those with high paying jobs, but that's a problem the entire western world is facing with no real solution available in the next 5-10 years of so. Every potential immigrant should be aware of this change. Three Idiots swimming pool wala house is now in the reach of very select few.


Talking about assaults, statistically speaking, sexual assaults in colleges, and schools which have been actively covered up by schools mostly involve their sports teams and "jocks". That is a more prevalent menace. Not discounting your apprehensions about trans people, but in the end you have to look at probabilities and risk.

Lastly, I do have a child in kindergarten, as do many of my friends, and I am unable to figure out what is so unnatural or offensive about kids learning the civil rights movement or knowing that their classmate has 2 moms or 2 dads. Of course some people may find it offensive and if you do, its going to be a problem in most developed countries because many of your neighbors may be same sex couples.

Most developed countries have 5-15% of couples who are same sex. I am sure even undeveloped countries have that, but they keep quiet. After all when you can be stoned for being a same sex couples, its better to keep quiet.


In the end, just calculate your cost of living, your financial and job situation, where you will live. Talk to your peers (there are 1 million+ waiting in green card queue BTW) and understand life in different countries before choosing. Never trust these channels. Their job is not to serve you, but get eyeballs to earn revenue.

[eyeman]

Originally Posted by Kanna_8118

It would be of great help to everyone (especially me) if you could please pen down the information; since you have seen both sides of the coin.



It's amazing that your children have secured admissions in prestigious institutions given the fierce competition. Based on your personal experience can you please elaborate on the pros and cons with OCI status of your children. Eg: College tuition fee is substantially more for non-Indian's. Also have you faced any issues while travelling abroad, coming back to India, registering property/vehicle.

Thanks for the nice words. And sorry, I think you have misunderstood. We are Indian citizens, not OCI. So I am not in a position to answer your queries. I agree that the competition is fierce for seats in a good educational institution. But in my experience , it is just a question of grooming them properly from lower classes itself. Most importantly, kids should be told about the importance of a good education and hard work from a young age itself, instead of simply asking them to study. I guess I have been blessed with two kids who were willing to work hard to pursue their dreams. And I believe that if parents spend sufficient time with their kids, it is definitely possible to motivate them and inspire them to achieve things that might seem difficult.

[mohansrides]

Originally Posted by KL01toKA03

..The bird I have is very rare in India. I want to take it to a place where it is common, and with less risk from poachers....

Going by your response here, it appears that you had made up your mind long before you asked us for advise. Don't blame you though; the urge to go abroad and experience foreign lands can be powerful and hard to ignore for most people.

I will say one thing about this response of yours. If you mean to say that technical writing is more common place in the US than here and therefore you may get more opportunities there, then I want to play devil's advocate and tell you that you are far better off here because you are part of a rarefied bunch who will likely be in more demand here than in a place where the labor supply side is more abundant.

For what its worth, I have an ex-colleague who now translates engineering texts to Marathi. She is of course quite circumspect about revealing what she makes. But, going by the fact that she has never looked for employment after she left us, I can only conclude that she is doing extremely well for herself. On top of that, she keeps her own hours, doesn't have to answer to a corporate hierarchy and doesn't have to constantly worry about her job.

Originally Posted by KL01toKA03

...My wife has been selected in the H1B lottery....

While it is always compelling to think about the positive possibilities; do spend some time to think about the negative what-ifs.

What if your wife loses her job? Or what if you lose your job after finding one? When you lose your job, you have to worry about paying bills, loss of dignity, etc. But, all these worries pale in comparison to one big worry for foreigners in the US - that of being an illegal presence.

I am not sure if this has changed now and I doubt that it has, but one's H1B is tied to the employer. So, if a person loses their job, their H1B becomes invalid effectively immediately. So, an unemployed foreigner is literally breaking the law by breathing the air while remaining in the US. This isn't a trivial problem at all. While plenty of Indians escape lay-offs, enough and more have gone through this horrid nightmare. Most won't talk about it because people hardly like to talk about their non-successes. But, good for you that I have no such reservations.

Moving on, as far as I know there isn't specific language that states how long one can remain in the US after being intimated of their job loss by one's employer. This lack of language is interpreted by different parties to suit their respective agendas. As far as I can tell, the language is there to help the US. Because if they say that you have to leave in a month and you haven't, then they are obligated to spend tax-payer money to come after you to deport you (again on tax-payer money). Since H1Bs are typically held by educated people who rarely break the law, the US govt has little to gain by forcibly chasing down H1B guys down on their luck. As expected, most laid off guys find their way home on their own dime. So why spend valuable tax payer money on the same?

Pro-immigation folks will advise people that they have 3 months to exit the US after a job loss. Whether this is true or not is anyone's guess. Whatever the clause is or isn't, let us now examine the weight of what being out of legal status means for the H1B holder.

Imagine that you have kids in school, not to mention other entrenchments like a home EMI and a car EMI in the US. Can you up and leave immediately to safeguard yourself from any possible legal action by the State?

i.) I met a techie here in Mumbai back in 2010. He had exited the US 8 months after he got laid off. He couldn't leave immediately after his lay-off because his kids were in the middle of their school year, and also he kept expecting that he will find a job. No such luck. Finally when he did leave, US immigration black marked him as an "over-stayer", and he was banned from re-entering the US for 10 years. TEN YEARS!! For a guy in software, to not be able to travel to the US, even just briefly for business, is a big drawback. Then comes his finances which were in shambles. He had desperately hoped that he could return and recoup his losses. Again no luck. While moving back to India, he had simply left his house unlocked, his car in the driveway and just driven to the airport with his family. Altogether he lost about USD 200k that he had already paid towards his house which he couldn't sell, and about 10k on his car. He had 2 cars. He managed to sell one. But, he couldn't sell the other because he needed one for the family, especially in cold Minneapolis. So, USD 210K (approximately 1 Cr in 2010) which was essentially his life savings went poof.

How he managed to stay cheerful enough to recount the happenings to me was beyond me. I suppose he found solace in the fact that I completely understood his predicament as I had been through that exact same situation not once, or even twice; but literally 4 times. The saving grace in my case was that I wasn't married at that time and didn't have to worry about other responsibilities.

ii.) Here is another example. The husband of a well-known recruiter lost his job. They were willing to risk nothing. So, he was on a plane to Delhi that very evening. Lucky for them, she was on her own H1 and did have her job. So, she remained back and held fort for 10 months until she could get her own husband a job. Ten months is a long time. Think about what that would have meant for their small children who one fine morning lost sight of their dad. Also think of the wife who now has to do it all alone. What if she or her children had gotten seriously sick in a foreign land? Who would have helped them? If we had to quantify all this trauma and uncertainty, what would be the $$ value? She was a freakin' recruiter for God's sake and even she couldn't help her husband with an immediate job replacement.

As others have pointed out before me, going abroad to greener pastures because one isn't able to find a foothold here is perfectly understandable. But, to let go of settled professional circumstances for possibilities in the US? Well, that is just foolish in this day and age. The US is long past its due date as the land of opportunity. There is plenty of opportunity everywhere if you have a basic education, can speak English, can think clearly, and are willing to work.

Finally, two other points that I want to bring to your attention :

a.) This line of thinking that getting international exposure is better than not getting such exposure is erroneous. The truth is that there is no telling what works and what doesn't work. I would wager that the majority of successful people in India have never had international exposure, and they are doing great.

b.) Do not assume that US is somehow better for your children. The US is as much a dysfunctional country as India is. By going there, you will simply exchange one set of problems for another. There is no evidence at all that Indian kids in the US are better off than ours here, and going to the US will not automatically put your kids on a conveyor belt to a free and happy life. See below.

Originally Posted by KL01toKA03

...My wife will try for green card, and at the same time, I will try for H1B...

Sir.. you make it sound so simple. While there are indeed people who have had enormous luck in their GC process, there are many who are languishing in no-man's land even after decades. My own BIL got his GC after 17 years. Yes, SEVENTEEN. In that time, he couldn't change his employer despite having many chances to do so. He was stuck with a crap paycheck of USD 60k in southern CA where 60k is literally poverty line.

If it takes that long for a GC and if you are stuck in repeated H1Bs for decades, your kids will have to return to India once they turn 18 because they weren't born there. What's more, while Trump was in office, he was actually considering legislation that would revoke citizenship by birth. Going by his record, I had no doubt that he would pull it off had he been in office longer.

Long story short; a US residency or a citizenship isn't permanent. Depending on the mood of the country, they can take away what they give you. It is their country after all. It will never be yours no matter what you tell yourself.

After having returned to India, I have had a zillion opportunities to return. I have said NO to everyone of them. I make not much money here. By all measures, I should be making at least twice my paycheck even in India. Some of us are just professionally unlucky I suppose. But, I will take less money in India than the uncertainty of the US.

P.S.

If you are going to the US, the ideal pathway is this - you are a fresh IIT graduate and have been admitted into one of the elite schools in the US with full funding --> you slum it out for 2 years and graduate to fielding multiple offers for huge money from big tech and consulting firms --> you start working at 21 or 22 --> the org you work for does all the heavy lifting for you and you get your GC in your pocket even before you turn 30.

If you take the above path, your success in the US is almost guaranteed. For everyone else, it isn't a sure thing. If you are from an average (but respectable) university in India and then get a Masters from another average school in the US, your path is strewn with landmines in a hire-and-fire work culture in the US. If you are a super techie, then your odds increase. But, if you tend towards being less of a techie, you are far better being not in the US.

P.P.S.

After 10 years in the US, I returned to India with a mere USD 8k. All my savings had eroded in just keeping myself afloat during long periods of uncertainty. My stubbornness in validating my original choice of going to the US cost me a decade of earnings in the prime of my earning years. By contrast, my compatriots in India were holding high office and had grown in stature and wealth. My own brother who had no qualifications at all had gotten a job in BPO right out of college. He is a hard worker and I am happy for his success. But, to take a snapshot for comparison - he was 22 and living by himself in his 2 BHK in Hyderabad; while I with my Masters degree in the US was slumming it out with 3 other guys; all the while telling myself that I had international exposure and more cultural awareness. What a shame!!

This BS that philosophers feed you that failure teaches you to succeed and that failure is good for you is just that. BS. There is literally nothing good about failing. It has been more than a decade since I have returned. But that time hasn't changed my opinion at all. There isn't one thing I learned in the US that has made my time there worth it. Wait. That isn't entirely true. What I learned are the following

• Hard work hardly matters. Do it. Don't do it. It's up to you. But, don't believe in hard work to succeed. Your success of failure will happen regardless.
• There is no right and wrong. There is only power and the lack of it. So, do what you can to get on the side with the power.

This is it!! That is what I have to show for 10 years of experience.

I will never tell my kids to go abroad. If they wish to, then that is their choice. But, I thank the Lord that I will have plenty to offer them to think about.

Here is an anecdote that may help you understand all that I have said above --

When I finally got married in my late 30s, I offered to get a comprehensive physical to reassure my would-be wife that I was fit for marriage. We ran all the tests and then during the closing consultation, the doc asked me in a delicate tone, "Why have you delayed your wedding this long sir? Is there any medical issue that isn't in these reports and that you wish to discuss in private?"

With my would-be wife sitting right next to me, I said, "I don't need any privacy as transparency is the whole point of this exercise. To answer your question, I haven't gotten married until now because I couldn't hold down a freakin job for 10 straight years. I had no confidence that I could provide for even just myself, let alone for a family. I have a job now and I am in my own country. So, I feel a bit more hopeful."

The doc smiled, shut the file and turned to her and said, "He is fine. In fact, he is more than fine. You should marry only him. Disregard all other alliances. Only someone this honest will keep you safe. Good luck."

Originally Posted by COMMUTER

I am hesitant to relocate solely for the welfare of the kids. The education system has crumbled to a point where their supreme court judge(Harvard) can't define who a woman is!..

Fully with you on this.

https://www.youtube.com/watch?v=OdJOLMgY4p0

Everything he says is spot on.

Gender neutral activists (and other ultra liberal who talk about math being racist and about abolishing rent and such) and Capitol rioters have a lot more in common than they think.

It is hilarious that Americans wanted to shut schools to protect kids from Covid deaths. School shootings have killed more kids than Covid ever will. If anything, schools in the US should be closed to protect kids from one of their own classmates who may just mow them down on a bad day.

[Navinprakash]

Originally Posted by Kanna_8118

Many people who living in U.S for more than 3-4 years tend to buy a house there and invest in other assets, coming back to India they need to liquidate there assets and transfer them; as you have seen first hand the challenges of people who came back to India, I am keen to know what taxes they had to pay, any suggestions you can give to people who are coming back (without making unknown financial blunders).

I live in US and own property. When you want to leave US, you have the below options

• Sell the home. If the home is primary residence in the at least 2 years of the last 5 years, you don't have to pay capital gains tax for the profit of the home.
• Rent the home. You have to declare rental income to US Tax dept and pay tax. You need to hire a management company to manage the property though

For other assets,

• You can keep those accounts open and report profit/loss and file taxes. Also if India has any requirement to report the accounts hold outside of India, report that as well.

Originally Posted by Kanna_8118

More importantly what's the psychological toll on children from relocating. From my observations teenagers will never-ever agree on going back to India, more persistent as they age. Is there any particular "threshold age" before which relocating back to India doesn't effect them much.

IMHO, there is no threshold age. Kids are like clay. They get set in a certain shape based on how we mould them.

I have seen people teach their Kids like "you are American" (Not sure whether due to any inferiority/superiority complex associated with Indian/US citizenship status.)They are ones who will get most affected due to moving.

If we teach them change is permanent and every country is equal, we should be able to adopt to any environment, then kids should be fine.

[amitoj]

Originally Posted by Samurai

But I don't know how it is on the ground. I think currently resident parents will be able to give you more accurate picture than me.

As a current US resident with 3 kids in the public school system, I can elaborate a little more.

I live in a small town, so it is less crowded and it is relatively more wealthy than average, and this results in more money funding the public schools, on a per student basis through the property taxes that we pay. There are occasional active shooter drills but they are not as frequent as fire drills or school bus drills. No metal detectors and no constant police presence either. By the way, this state, New Hampshire is an open carry state, which means anyone can carry a firearm without a permit. Having said that, last time I saw a anyone other than police with an openly displayed firearm was 6 years ago, in a different town.

Having said that, there are some worrying signs, mainly emanating from political interference in what schools teach. There's a lot of noise being made about Critical Race Theory which is ridiculous. Then there's a voucher system that allows parents to pull their kids out of the public school, and claim a refund that they can use towards private education. The only reason I have not lost all hope yet is because on average, I am seeing saner voices prevailing. If one does not like the direction that public schools are taking, it is possible to get involved and make your voice heard.

Progressive candidates prevail in school board elections despite passionate campaigns on right

[arunrajk81]

I was almost in a similar situation as yours and was working in IT sector, Bengaluru. I moved during 2015 to California.

This is what I felt and might be different for another person or if you are going to another state in US

The immediate difference was you spend very less time in traffic Jams and getting something done from a govt office is much organized and hazzle/tension free if your side is clear.

Kids are stress free during elementary school levels (KG to 5th or 6th based on where you live), but it tends to increase bit more compared to India once they reach high school levels. Govt schools are good and most prefers govt schools and education is free till 12th. Private schooling is very costly at least in California (Thats not the case with some other states). Kids are allotted to Govt schools based on area where you live, and house price (Rent as well as for owning) will be higher if schools at your area are having good rating.

After 12th, the Colleges are costly but scholarships are available for students. The student loans from US are only available for kids of Green Card holders or citizens.

Overall, the life if much easy going and fast.
I can give you some info related to your query2 and 3 based on my experience

If you are determined to find a job, it’s easier in USA compared to India.
Since one of you are on dependent Visa, you might need to apply H4 – EAD to work in USA which is attached to primary candidates H1B (Basically single point of failure). If H1B holder is a direct employee of a reputed company, generally there won’t be any issue with H1B renewals even though there were some glitches used to happen especially for people working on client locations during 2017-2020 while doing H1B renewal. Now a days, I am not seeing these types of issues much. If the organization that the dependent is joining after getting H4-EAD, if they are ready to process H1B, then that solves the issue and you both have H1B separately.

Regarding extension, only 3 extensions are allowed if you are not filing i-140(Initiating Green Card processing). Normally this is not an issue, because most people file i-140 within this time and get it approved which is not a big thing. Once i-140 is approved, the max three extension limit is automatically removed.(I am not sure if its unlimited number of extension or a limit with very high number).

[Aceman82]

Originally Posted by kartoosh

This is just my view and no offence to anyone.
IMO emigrating to US at this point in time makes all the more sense than ever.
........
Almost all HNIs are aware of this philosophy and make plans based on it. One can always do some research on this and verify.

For some reason we in Team-BHP is are so negative about India . Things are not this bad folks, we faced lot worse challenges in the 60's and 80's.

I am a so called 'HNI' with all my assets earned by working in some of the FAANG/Big Tech organisations. These organisations pay outstanding compensation for folks working in tech with base salary in local currently + RSU (Restricted Stock Units) in dollars.

Have also worked on couple of these countries. As such i can relocate to any major western country without any issue (or) could get a job in any major economy.

Saying that, I am very happy to be in India due to the below reasons. Let's start with the process of elimination.

USA:

The only place where folks working in high tech industries (read software) can have a sizeable difference to their current salary would be United States. By this i mean around 2X of the current drawn salary in India.

Below are the major issues there,

Green card backlog: Currently if i transfer to US, i would be eligible only for a EB-2 or a EB-3 green card. Just doing PERM will take a year and the current backlog in these categories will take ~30 years to clear. Without this, one needs to renew the visa every three years with the associated risks.

One way to avoid this backlog would be change the job role to a manager and then do an internal transfer under the L1-A visa and apply under EB-1C, by which one gets a Green card under <2 years (in most circumstance). This is not an easy visa to get 99% of folks who want to transfer to USA won't be eligible.

High taxation in some states: This depends on the state on works in United states. Places in california would have close to 50% tax rate with a marginal tax rate of 52% and an effective tax rate of close to 45%. Plus everything is super expensive in Silicon valley.

One way to avoid this would be to find a job in zero state tax places like Texas or Washington but this adds more complexity and variability.

At-least US could be an option. Let's now move to other countries.

Salary for high tech industry (Software) when compared to india will not be 2X like USA but more in the order of 20% to 30%. This is true for all the western countries like Canada, UK & Germany.

Canada:

There are only two places one can work in Canada, Vancouver and Toronto. I know lot about Vancover so let me start there.

Taxes in British Columbia are super high: I will have a marginal tax rate of 54% (yes, more than half). Effectively the difference in pay (the >20%) would be taken by taxes making the salary same as what someone will get in India.

Super expensive accommodation: I stay in a ~5000 Sq.Ft individual house in India with gardens. Would need at-least a 3 BHK Condo or preferably an individual house.

Downtown Vancouver rents are super expensive and it will cost anything close to $5000 (CAD) for a 3/4BHK condo. Of-course i can travel to Surrey to find something cheaper (say $3500 CAD) for a 3-BHK individual house but this adds 1 hour to the commute (at the best of times).

High cost of living: Everything is super expensive in Canada when compared to its bigger brother down south.

Before anyone says that Canada has 'Free' healthcare, i would rather pay and get treatment immediately in Apollo than waiting in the Queue to avail the free healthcare.

Overall i calculated that, one will end up saving 50% less than what he/she would earn in India with a lot more headaches.

UK:

Same as Canada with even more costly housing (London), lot higher taxes and even worse weather.

Germany:

All the issues with UK (maybe cheaper housing) with an additional language barrier.

On diversifying investments, i do agree with the argument. I invest 25% of the my Indian salary on Index funds (QQQ, VO & Vanguard S&P 500 ETF) via LRS scheme but one need not leave India to do the same.

[sierrabravo98]

Originally Posted by kartoosh

This is just my view and no offence to anyone.
IMO emigrating to US at this point in time makes all the more sense than ever.
All these life problems what everyone is talking about (other than being with parents) can be overcome through money. And when you are moving for better, lots of such hurdles will come and one has to make a choice as to what one really wants.

Invest in India, grow both Indian and oversees corpus but IMO always plan to live in some other country. Once someone has worked for 5-8 years in US and is intelligent enough one should target to move to places like UK to settle.
Almost all HNIs are aware of this philosophy and make plans based on it. One can always do some research on this and verify.

I generally tend to ignore such posts but the highlighted portions got my goat.

India will not be a place to live in after not more than a decade. In most probability there would be tremendous political turmoil and extreme/unsolvable differences among states.The issues could be anything from water to ideology.

Anything to substantiate your point? We are literally living in the most peaceful and prosperous period this country has ever witnessed since the advent of the Europeans. Doomsdayers' (like you) have been predicting the end of India every decade since 1947. Yet, here we are stronger and better than ever.

All the saved money whether you earn in crores would evaporate owing to huge inflation and sorting out daily issues. The best bet is to earn and save in hard currencies like dollar and invest one's time in acquiring new technologies like electric car and AI. No one even on this esteemed forum would want his child to do higher education in India or at least I don't want that for my children. For all of us, here is a question; what are the fields in India wherein one could earn a decent living similar to what most people in this forum might earn today. Do we think our children will be able to enjoy a similar lifestyle as ours with their own money once they start earning in India after 10 years?

Let us approach your erroneous suppositions one by one.

1.) Inflation

=> Inflation rate in USA: 8.5% (GDP Growth Rate: 3.7%)
=> Inflation rate in Europe: 7.5% (GDP Growth Rate: 2.3%)
=>Inflation rate in India: 6.95% (GDP Growth Rate: 8.2%)

2.) Invest one's time in Electric cars and AI

Frankly speaking, this point does not even make any sense. Maybe I have been living under a rock but since when have EVs become appreciating assets that one can "invest" in them? If such is indeed the case, buy a Tata Nexon/MG ZS and call it a day. As for AI, India has tremendous potential to grow and current policy initiatives by the government and private sector actors guarantee that India is going to be right up there with China and USA within this decade as far as excellence in AI field is concerned.

3.) Earning a decent living

Again, this point does not make any sense. Salaries in each and every sector are increasing in real terms (that is more than the inflation rate). Salaries in IT sector are literally booming. My batchmates who have less than one year of work experience are earning in the 20-40L CTC range. Adjusted for PPP, they are making (and saving) way more than they could ever hope to in any other country in the world.

4.) Moving to places like UK

Could not help but laugh at this point. You do realise that the Prime Minister of the said country is currently in India and is hopeful for a trade deal? India has signed a bunch of FTAs recently with major economies around the globe. FDIs in India are at an all time high and are only projected to increase. GFCF (Gross Fixed Capital Formation) is witnessing a healthy increase, exports are at an all-time high, tax-revenue is showing healthy growth. All these indicators (and many more which I have chosen not to post here due to space and time constraints) portray a country which is on a stable footing and an upward trajectory. Yet you choose to believe otherwise. In such cases, the quote about the horse and the water come to mind.

BTW, No offense taken but your post belongs on this sub-reddit.

[warrioraks]

Originally Posted by FrozeninTime

You forgot the crux is ever increasing population.

India added 600 million in just 30 years ( 1991 to 2021) years compared to 500 million from 1947 to 1991.

Population explosion from where our country stands today is an unlikely event. It might not be prudent to base future decisions on the basis of historic data in this case. Strongly suggest reading about the current TFR (Total Fertility Rate) in India and you will know why.

Just to provide a starting point, go through this Wall Street Journal article.

India May Face a Population Implosion
https://www.wsj.com/amp/articles/ind...en-11640289956

[neil.jericho]

Originally Posted by KL01toKA03

My wife has been selected in the H1B lottery. Now, assuming that she gets the visa, we have a major decision to make and would appreciate suggestions from people who have faced similar situations. Here is some background on our realities:

We earn 55 lakhs per year in India, have 2 apartments in Bangalore (one without loan, and another one which we purchased recently with a 20 year loan. EMI is approximately 1.25 lakhs per month). I am a technical writer (14 years experience in Product Documentation) and my wife does web services testing (14years experience in software testing). We have two children aged 4 and 6 years.

Originally Posted by KL01toKA03

Thank you for all the responses. It helped a lot in making a decision. For now, my wife will go alone, I stay in India with the children. She will try to get a green card, and if that happens we will also join her. Else, she will come back. Worst case, she comes back to India with a lot of independence and will be in a better shape to handle things.

KL01toKA03, in the IT industry, typically, people move to the US on a H1B visa for
- financial gains (make good money for 6 years, return to India, lead a settled life)
- career gains (great onsite exposure, return to India, take a leadership role)
- future gains (move bag and baggage, get the green card, your children will have a better future)

There is no right or wrong answer here. Everyone has their own reasons for applying for the H1B visa. Your earlier post indicated that you were looking at future gains but the final decision, surprisingly, leans towards a career gain. To me, this indicates that you and your better half, need to do more spadework and have more 1-1 discussions on the topic.

As things stand, I cant help but wonder if you and your family are making the right choice . For your wife to get a green card, it is going to take at least 5 - 6 years. Thats a long time for children to be away from their mother. Considering the young age of your children, is that really what is best for them?

Having spoken to and learnt from dozens of (maybe even 100+) colleagues who have gone through the H1B route, my suggestion is first take a call on what you and your wife really want to do. Honestly, your best options are to either stay in India or go together. I would not suggest that anyone complicate matters by doing a one leg in, one leg out approach, especially when such young children are involved.

If you and your wife truly believe that being is the US is what is best for your children, then move as a family. Quit your job. Be a homemaker until the paperwork sorts itself out. Let the children grow up with both parents in the same household. Support your wife's career.

If not, then keep it simple. Your wife will have to let go of the H1B opportunity. Stay in India and lead a happy life.

[14000rpm]

Originally Posted by Navinprakash

I live in US and own property. When you want to leave US, you have the below options

• Sell the home. If the home is primary residence in the at least 2 years of the last 5 years, you don't have to pay capital gains tax for the profit of the home.
• Rent the home. You have to declare rental income to US Tax dept and pay tax. You need to hire a management company to manage the property though

...

Originally Posted by Kanna_8118

Many people who living in U.S for more than 3-4 years tend to buy a house there and invest in other assets, coming back to India they need to liquidate there assets and transfer them;....

I am a permanent resident in Finland but still own the House I purchased when I lived in Rochester Hills, MI. This house is on rent. I declare the rental income to US and pay taxes on that income here in Finland too. This is all totally legit and I didn't and still don't need to liquidate just because I don't live there.

One can own a property even on B1 visa which is what I have for now. I had a L1-A at the time of applying for Mortgage.


The Mortgage company has no problem with it as long as I'm paying the Mortgage in time. They are fully aware of my change of residency country.

I have a Property management company that takes care of the house, find tenants, etc. etc.

Intend to keep it for another 10 yrs till the Mortgage tenure completes. at the same time, daughter turns 16. That is the time I sell the mortgage free asset and hand-out the capital gains to my daughter as 'Gift'. There are some relaxations on tax when it is declared as 'Gift'.

The rental income is the Equity which, as is globally accepted, is one of the best form of Investment.

[dragonfire]

Originally Posted by sierrabravo98

We are literally living in the most peaceful and prosperous period this country has ever witnessed since the advent of the Europeans.

This might be true for most Indians but everyone may not feel the same. Your viewpoints and degrees of insecurity may vary depending on which side of the divide you are on.

Several years ago, I put together an emergency kit and important documents and some gold into a fire resistant box in a place at home that is easy to grab and run, should that day arrive. Yeh, I might sound too paranoid, but that is the whole point, eh?

Now, rather than wanting the govt to make me feel safe and secure, if I am choosing to move to a safer place to live, why should anybody else complain?

[ninjatalli]

Originally Posted by KL01toKA03

Thank you for all the responses. It helped a lot in making a decision. For now, my wife will go alone, I stay in India with the children. She will try to get a green card, and if that happens we will also join her. Else, she will come back. Worst case, she comes back to India with a lot of independence and will be in a better shape to handle things.

Just to piggyback on the excellent post by @neil.jericho below, let me add one more point to consider

- it is okay to look at US from a shorter time period (say 1-1.5 years). Several of my acquaintances have done that and have continued with their careers (& lives) successfully in India.

Basically you don't need to follow the herd. Ask your wife to gather information on the GC process and probability by talking to her superiors and colleagues to get a realistic picture as this proceeds. Keep options open for her to come back if things don't work as planned.

A one-year experience in the US (if done well) can be leveraged for future professional commitments. Many middle management folks do such stints to build relationships and gain other operational benefits. And the personal exposure she'll get working there is always a benefit for sure, no matter the period being considered.

Originally Posted by neil.jericho

KL01toKA03, in the IT industry, typically, people move to the US on a H1B visa for
- financial gains (make good money for 6 years, return to India, lead a settled life)
- career gains (great onsite exposure, return to India, take a leadership role)
- future gains (move bag and baggage, get the green card, your children will have a better future)

There is no right or wrong answer here.

[Kanna_8118]

Originally Posted by 14000rpm

This house is on rent. I declare the rental income to US and pay taxes on that income here in Finland too. This is all totally legit and I didn't and still don't need to liquidate just because I don't live there.

So just to be perfectly clear, you pay tax on the same rental income twice once in the U.S and once in Finland? I guess the same goes incase someone is living in India.

Originally Posted by 14000rpm

That is the time I sell the mortgage free

My question is same as above, let us say you wish to bring back the money from selling the house back to India or any other country, do you have to pay tax twice.

And what if it the case is reversed!! selling property in India and transferring abroad, any idea what kind of hit one takes?