GC holder to be or not to be

5d 31 Comments

I have an option to get a GC. however i am not sure if its worth the effort(paperwork etc) if I want to go back to India in a few years. I am also not sure if there would be negative consequences after i relenquish the gc (once i get it) and want to come back again.

FAQ
1. why would you want to move back?
- home is where heart lies.
2. wait your perspective will change
-been here 5+ years i like it but want to be closer to family in the long run.
3. why in next few years
-kids growing up fast want to go before its impossible. Btw what is the age after which kids dont want to move back?
4. TC
-300k

comments

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TOP 31 Comments
  • VMware sorry.no.
    If you are not serious about staying here don’t get one. So that it will go to someone who really want and care for this.
    5d 2
    • Capital One needsafety
      Of course Indians care so much about fairness, that’s why they’re all here.
      5d
    • VMware sorry.no.
      If you have any common sense don’t start unnecessary arguments.
      5d
  • Oracle moRr3t
    This guy is delusional
    5d 2
    • Microsoft jknight_
      OP
      Curious y do u say that
      5d
    • Amazon run_
      OP, when you say you have a chance to get a GC, you mean Microsoft has agreed to file for your GC?

      Even in EB1, you won't get your GC in the next 3 years.
      5d
  • VMware / Eng
    tyxS31

    VMware Eng

    PRE
    Microsoft, Hulu
    tyxS31more
    Just start the process, your mind may change in the future.
    5d 0
  • Uber / Eng DgoQ22
    One thing you might want to consider is the exit taxes you have to pay if you were to relinquish gc.
    5d 19
    • Microsoft jknight_
      OP
      This is scary - that means I end up paying taxes on my world wide income and how much do I pay as exit tax when I relinquish my gc ?
      5d
    • Uber / Eng DgoQ22
      The tax will be as though you sold everything you have and profit is taxed as income.
      5d
    • Microsoft jkFF23
      Note for clarity that income tax liability isn't your total comp, it's the amount of tax you pay to the IRS.
      5d
    • Correct
      5d
    • Microsoft jknight_
      OP
      Still ... the fact that if you have properties / inheritance in India (which potentially runs into millions of dollars) you have to pay taxes on it ...!!! And what about those 401ks etc r they considered as well in exit tax ?
      4d
  • Workday kjgyh5677
    If you have considerable wealth in India you can get GC and relinquish it whenever you want to avoid paying tax on worldwide income
    5d 1
  • I don't think you have a luxury to choose here. Which category do you belong - EB1, 2 or 3?
    If EB 2 or 3, you won't get a GC in lifetime. In case EB1, at least 5-10 years wait if you apply today. Good luck.
    4d 0
  • New
    scheme

    New

    BIO
    Started blind to get some break from work. Now, I work to get some break from blind.
    schememore
    Do you qualify for EB1?
    5d 0

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