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I don't think with $500k you could go back to India and live like a king. 500k is about 3 crores ... That will fetch 18-20 lakhs per year interest rate... If you work then you are looking at additional 40 lakhs per annum. Given the inflation in India... It's not good money. Your net income aka take home pay along with monthly interest income should be at least 4-5 lakhs. Otherwise don't go back
500k isn’t enough first of all. Secondly there is a risk- only if the business sustains you may get the card.
No. Stop gaming the system and go back home
Don't blame the player, blame the game. The whole green card process is pretty racist, and if someone thinks they deserve some form of permanent residentship after paying millions in taxes, why do you call that gaming the system?
Both parties denounce racism and yet support a racist immigration policy. Hypocrisy at its best.
There is no gaming the system,it is playing by the rules
Really? He's trying to score a GC that's his main motive whereas in spirit the visa is for investors whose main aim is to build a business.
500k is for people to get a GC by investing in a project where no one wants to invest in .Typically they are infra projects in remote areas - usually they do pay back the principal but don’t expect any return on investment .
A friend of mine recently went to India and it is just not about being able to hire maids .. etc but after living here for so long it is just a big culture shock .. safety of kids, un professional standards across the board ,finding proper schools , activities ... essentially he tried to recreate his life style here - there and it costed about the same and he still could not get it right.
How does safety of kids and schooling system work if you have stayed here for 15 -20 yrs?
Private schools in India cost same as the US I’ve heard. How do folks afford this?
I think moving to Canada 🇨🇦 is an option , any ideas on how good is that ?
Oh gosh India is definitely not that expensive. 500k is definitely something u can retire on even and if u have any additional income like a job etc then the 3 crore is a solid principal.
Are you kidding me? I can barely buy a luxury condo to maintain the same lifestyle I have here in any of the top cities for that amount, go look up and everything is north of 3 crores in top tier cities. If you want to live like a king, you need 10+ crores
A small flat in a small city there costs a crore now, with de monetization I think things have gone down .. but still.
Just started this process recently. Got tired of the uncertainty with H1B. However, people should realize that with the number of investors going up, the process end to end takes almost 5-6 years or longer . So be comfortable with the idea of having that money being inaccessible for a while. Also, I agree with lot of the posters that if you are the kind who thinks that 500k in India can give you a good life, then you probably are considering a different level of lifestyle compared to what is here in the US. Maids, cars, housing alone will set you back 1-2crs and then if you want to actually save and take exotic vacations, 500k is gone really fast. Certainly, the city where you move makes a huge difference but metros are certainly at par with Bay Area in terms of cost.
You could always just go back to India with that $500k and live like a king.
Investing is not the same thing as spending. The $500k investment could multiply *and* fetch you permanent residency.