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Has anyone Deloitte submitted a client verification letter for their H1B consular visa appointment? Could you please share the template with me? The legal team has not gotten back to me in a week, my appt is next week. My project leadership is ready to provide a letter if I can give them a standard template
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USD/Rupee has been stable and likely to be in medium term given US deficit/economic woes. Unless you see compelling opportunities, very hard to beat the safety/return in India where you have it now. Of course depending on your risk/reward appetite imagine lot of people will give you specific alternative investments advice at either end
Yes and that is exactly what I have in mind. I have invested well for my own money but the return I got have nothing to do with my investment skills . The market was up . I saw the average return in USA market was 13 percent. Considering that with a 7 percent interest……. For now seems fine. Thanks for your advice
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Repatriate the money in chunks of 1 million and buy assets here. I heard that Indian government allows 1 million USD repatriation per year. As I said, seek advice of qualified tax and Forex folks.
https://sanjivcpa.com/how-to-bring-money-from-india-to-the-us#:~:text=NRIs%20are%20allowed%20to%20repatriate,all%20other%20capital%20account%20transactions.
I sold off some properties recently too. You will end up paying capital gains tax if you don’t reinvest that money under section 54 regulations.
Interest - you can bring them when you retire… while you make some risky high rerun investment in US from current salary.. mix portfolio .. safe return and risky return
I have paid all taxes in India and USA. I am clear on that
If property was bought for 500k ten years back and sold today for 1.5 mil, you need to pay capital gains tax.
There are certain exemptions, if you reinvest into govt specified bonds or on residential house (assuming you don’t own more than one).PM me in an explain as I am navigating the same right now
Since you have no one left in India, and assuming you have no plans to go back, I’d get the money over to the US and look at investment opportunities here.
My reasoning:
1. I expect the exchange rate to continue to favor US.
The US Government typically strives to maintain a lower inflation rate as compared to India over the long run. The Indian Government typically tries to keep the rupee weaker to benefit exports.
In a nutshell, your real returns against the dollar will be worth significantly less than the 7.5% you make on FDs.
2. You have the opportunity to invest in better stocks in the US. S&P 500 may do 10-12% over a long period of time, but Nasdaq 100 tends to do much better. That or others can be an option for you, given you don’t appear to need the money in the near term. Just make sure you are averaging the money in over time vs. investing big amounts in one go.
3. You can invest in real estate in the US if you don’t want all your money in the stock market. Though returns are a bit lower, it can be comparable or even better than the stock market, if you take on a bit of leverage (mortgage).
Good luck with whatever you decide!
Thank you for taking time to write your recommendation. Greatly appreciated.
My pleasure!