Should i take US Citizenship or not?

A

ashutoshsharmaindia

New Member
I know this question might have been asked by many in the past. I am in USA since 2000-first B1(coming and going back to India vice versa) then ever since 2005(H1B visa then EAD and then GC since end of 2011). Some where around Nov 2016 onwards I have to decide whether to go for US Citizenship or not?
1) Does opting for US Citizenship means give up Indian citizenship for ever? Can't I get Indian citizenship in future? If yes, how easy it is or any wait time?
2) If i go for US Citizenship then what will happen to the real estate property that I own in India or the ones I could possibly get it from my parents?
3) My kids are US born and thus US Citizens. Wife prefer to be on Green card - not that keen on US Citizenship as of now.
4) Like others - I have my entire family(parents and siblings) in India and I visit India every year. I like India but I kind of like USA more than India(in terms of better education of my children and may be better career for myself)
As of now I am weighing pros and cons and will make a decision accordingly.
 
Go for it. You can then get OCI, and with that live and work in India in future. If you then decide to become Indian again, you can do it after living for a year there. You can inherit and buy property except for agricultural land (don't know the details or exceptions for that). It's also possible dual citizenship will be an option in the near future, so you might be able to get it back sooner than later.

Number 3 and 4 are not questions.

If you want to vote, apply for certain jobs, be non-deportable, and have MUCH more travel freedom with a US passport, you should go for it. But, you have to be ready for jury duty :)
 
I keep hearing there are tax implications.
I need some clarity.

Is it that Indian taxes go up if you are a citizen of US? I thought they went up as soon as you become NRI but not when you become Citizen.

Or is the issue that you have to pay US taxes even if you go back to India?

I do know that as a green card holder currently, if I pay taxes in India, I can reduce my US taxes by that amount. (Some get tax rebate and some get to reduce earnings)

In general what are the normal tax implications.
 
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