Our family is planning to move to India in a couple of years, we have 2 kids (both US citizens). Me and wife are Indian citizens.
We are currently eligible to apply for US citizenship (got GC >5 years back). We have been debating whether we want to do it or not.
We have been thinking of following points towards making the decision:
Reasons for not getting US citizenship
- Sentimental reasons - Obviously, we dont want to give up Indian passports. If dual citizenship was an option, this would have been very easy decision.
- Once we start jobs in India, we wont have to pay any US taxes (other than perhaps any investments like stocks, dividends etc.)
Reasons for getting US citizenship
- Two-way door decision - If we get US citizenship, then our understanding is that we can work in both US and India (with a PIO), so effectively if we want to get back to US that is an option. With GC, you have to renew parole every 6 months, and there is a chance it gets denied.
- If we want to keep more investments like a house etc. in US, I am guessing things are easier with US citizenship
- International travel is much easier with US passport (no visa requirements etc. for most countries).
A few questions:
- Has anyone else gone through this decision process? Are there other points to consider while making this decision?
- Getting jobs in India in tech - is it easier with Indian citizenship, or does US citizenship have any benefits?
- Tax-wise: any issues with taxes in India or US if we are on US citizenship?
Thanks and Happy New Year!