Personal Finance
23h
2880
Calculated my NW and now i can't sleep
Tech Industry
10h
822
Update: Trans Coworker Stealing Breast Milk
Tech Industry
11h
2624
The job market is absolutely brutal right now
Tech Industry
7h
2099
Crossed a line with my boss
Tech Industry
7h
1335
I am starting to think Chinese interviewers currently fail non-Chinese candidates on purpose.
Many Indians with high TC (400k+) still stay on H1B and are willing to wait decades to get their GC. Isn't possible to save for like 5-7 years and once you hit the 1M saving, apply for the investment visa which takes way shorter to get GC? I don't understand the logic. Help me. 5 yoe, TC: 350k
Good question. It's going to depend on your risk ability . Also, isn't the minimum requirement for investment around 1.8M these days ?
I think it's 500k or 1 million depending on the state you invest in. I am not sure if they raised it
They did, starting Nov 2019.
Even at 1MN you need to invest minimum $500k in rural areas to generate employment ($1MN in other areas) To be able to have that much liquid investment available one would need at least $2-3 MN of NW. Assuming one save a modest 50% of their TC, it'll still take them 10+ yrs to accumulate that much cash.
Still 10<80.
I'm sure there are folks who do this. I just personally don't know of anyone in that high TC range. Sundar Pichai might be a good example. I personally would only do it if it doesn't break the bank for me, so not happening anytime soon for međ
because thatâs stupid
Do you have 900k lying around ready to invest? TC doesnât matter. Savings matters.
Even if you invest that amount, it still takes Indians 5-10 years to get it by EB5 investor visa. If it was instantaneous people would have opted for it. Having this uncertainty for 5-10 years even after paying so much money is not worth it
^This
Why is it 5-10 years?
You need to actually show that youâve invested the $1mn.. and the venture hires some 10 people or so People whoâve spent a life time saving $1mn wonât wake up one day and risk it all even if it means getting gc. Theyâre Conditioned to save cash and reduce risk
Exactly
GC not worth 1million
Get a GC and pay US taxes for life? If I have a few millions I might just want to stay on a visa.
What you said makes no sense. If you are h1, you pay same tax as gc or citizen. If you have gc or even citizenships you can abandon to avoid USA tax. What visa are you in right now that gives you a different tax status?
Youâll pay exit tax if you abandon your GC or citizenship. Thatâs like realizing all your capital gains immediately and pay ridiculous US taxes. Also you might be unable to come back to the US in the future. I am a Canadian citizen on H1B. If I have a bunch of money I might just live in a tax haven because Canada doesnât tax non residents.
I doubt ppl have had such high TC's over the past 10 years, my guess is it's more recent like maybe 3-4 years due to hyper bull market.And most people buy a house and other traditional investments that lock up the cash in the meantime. Maybe in the next 5-6 years(depending on post covid market) ppl who have your TC might accumulate it. But in the next 5 years, eb-5 minimum will change again lol, if it still exists.
Fair enough
If you donât mind, whatâs the TC split?
Really?! I just left it there so people don't ask, instead of answering the question. Now you're asking for the split?! 200k/120k/30k (stock includes original stock, plus annual refreshers. Bonus is the annual bonus) Happy?!
@56hty ppl here are ridiculous lol