242. Green card holder leaving USA for more than six months
Q. Q: I saw your website and had a question. I would be really greatful if you could kindly reply to the foll question. Thank you
for your time in advance.
I am a Indian citizen who is an NRI and got a United states green card just last year. I will be inheriting a residential plot and
some farm land. I wish to put up an apartment complex on this plot as soon as possible but I was told that it might take ~2
years for the entire apartment complex to be put up. I dont have any one in my family who is capable of taking care of this, so
I would have to do this myself. I dont want to lose my green card status. In order to maintain my green card I was told that I
cannot reside outside US for more than six months/yr.
I would have to wait for another 4 years before I can apply for a US citizenship and then I would also need a OCI to reside for
longer periods in India. Is there a way that I can take care of this without waiting too long.
Also please advise if there is a disadvantage if I become a US citizen in terms of the getting the registration of the apartment
complex on my name.
Also please advise to whom I would have to pay property taxes after I construct the house-to Indian govt or to US govt. Please
advise. Thanks in advance.
Padmaja
A. If your stay will be about two years you could consider getting a re-entry permit. The I-131 Application for Re-Entry Permit must be submitted while you are still in the U.S and you must remain in the USA until your biometrics (fingerprints) are taken. This would be approximately two months. For re-entry permit you must be able to show that you are not abandoning your residency in the United States. You should keep your bank account, US drivers license etc. as such things in some way shows your intent live in the United States. Most important you should continue to file US taxes during your absence. Hiring someone to look after your project would of course be the other option. I can't think of any disadvantage you may suffer for registration of your property purchases if you acquire foreign citizenship. Since the property you plan to construct will be in India, property taxes naturally would have to be paid to the concerned authorities in India. US capital gains taxes would of course come in when you sell your property and also when you start getting income from your properties as US nationals are taxed on their world wide income. the long run.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been
stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
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242. Green card holder leaving
USA for more than six months
Q. Q: I saw your website and had a question. I
would be really greatful if you could kindly reply
to the foll question. Thank you for your time in
advance.
I am a Indian citizen who is an NRI and got a
United states green card just last year. I will be
inheriting a residential plot and some farm land. I
wish to put up an apartment complex on this plot
as soon as possible but I was told that it might
take ~2 years for the entire apartment complex
to be put up. I dont have any one in my family
who is capable of taking care of this, so I would
have to do this myself. I dont want to lose my
green card status. In order to maintain my green
card I was told that I cannot reside outside US for
more than six months/yr.
I would have to wait for another 4 years before I
can apply for a US citizenship and then I would
also need a OCI to reside for longer periods in
India. Is there a way that I can take care of this
without waiting too long.
Also please advise if there is a disadvantage if I
become a US citizen in terms of the getting the
registration of the apartment complex on my
name.
Also please advise to whom I would have to pay
property taxes after I construct the house-to
Indian govt or to US govt. Please advise. Thanks
in advance.
Padmaja
A. If your stay will be about two years you could consider getting a re-entry permit. The I-131 Application for Re-Entry Permit must be submitted while you are still in the U.S and you must remain in the USA until your biometrics (fingerprints) are taken. This would be approximately two months. For re-entry permit you must be able to show that you are not abandoning your residency in the United States. You should keep your bank account, US drivers license etc. as such things in some way shows your intent live in the United States. Most important you should continue to file US taxes during your absence. Hiring someone to look after your project would of course be the other option. I can't think of any disadvantage you may suffer for registration of your property purchases if you acquire foreign citizenship. Since the property you plan to construct will be in India, property taxes naturally would have to be paid to the concerned authorities in India. US capital gains taxes would of course come in when you sell your property and also when you start getting income from your properties as US nationals are taxed on their world wide income. the long run.
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