I just became a US citizen yesterday. My question is - as a US citizen can I continue to have property and bank accounts in my name in India? I am beneficiary to my family property and also have bank accounts since a long time ago. Am I legally allowed to have those anymore?
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As a US citizen, can I own property and have bank accounts in India?
- Thread starter jac2005
- Start date
No problems!
The U.S. doesn't mind as long as you declare it all on tax returns either as a resident or non resident taxpayer. Just my opinion based on various similar post I have read here.
I have a non resident bank account in my home country in Europe, I just have to make sure I state this on my yearly tax return here in the States.
I can't speak for the laws on this in India.
The U.S. doesn't mind as long as you declare it all on tax returns either as a resident or non resident taxpayer. Just my opinion based on various similar post I have read here.
I have a non resident bank account in my home country in Europe, I just have to make sure I state this on my yearly tax return here in the States.
I can't speak for the laws on this in India.
Jackolantern
Registered Users (C)
Suppose India will revoke all your property rights and confiscate your bank accounts. Why didn't you ask this question BEFORE becoming a US citizen?
This is more of an India forum question. The US doesn't care, it's the Indian government you need to ask if you being an American can own property in India...
Guys,
It is not a big issue. The OP just needs to apply OCI (overseas citizenship of India) and all will be fine. OCI holders have same rights as any other Indian Citizen except Voting/Holding Govt job etc. Just like Green card here.
There is a OCI forum here that OP can go and participate. This is not the group that he should be asking these questions.