r2i forum

I am a US Citizen with OCI card planning to R2Pune in the summer of 2008 with my wife and two children who would be in 10th and 9th grades at that time. I have the following questions and would be grateful for any help :

1. School :
a. when should I plan to move considering the difference between the session closing month in US and session opening month in Pune ?
b. how to get admission in a good school when the kids are in higher classes like mine viz. 10th and 9th ?
c. Are International Schools a better choice keeping in view the language barriers ?
d. What is preferable : State, CBSE or IISC (name ?) boards ?

2. Taxes :
a. Do I have to keep filing taxes in US when I R2Pune even when I do not have any income in the US ?
b. What is the best way to handle taxes in both countries ?

3. Finances :
a. Is it better to transfer the money to a bank with footprints in both countries viz. Citibank, ICICI or SBI ?
b. Is it better to keep the 401K open or close it ?

4. Social Security :
a. Do I have to give the Pune address to Social Security Admn ? If yes, since I do not yet have a house in Pune, can I do that when I get settled in Pune, if not, how to handle this ?
b. Do I have to keep a US bank account open to Social Security remittances when it matures ?

5. Moving :
a. What documents (like Transfer of Residence etc.) need to be filled ? Where can I find the forms and the list ?
b. Is it better to take back all the appliances (I have GE appliances) like washer, dryer, dishwasher, cooking range & hood etc. or dispose them off ? What about other goods, should they be transfered ?
c. what is the maximum value of goods that can be transfered with Transfer of Residence without duty ? What is the paperwork involved ?
d. How to find storage space in Pune if goods are moved there ?
e. Is it better to move into an apartment first and then buy a house ?
f. Is it better to buy or build the house ?

Too many questions I realize but that is what I have and I will remain thankful to all helpful replies.

Sincerely,
Jay

Hi,

I am properly from Pune and planning to R2I in a month. My family is already there and I am finishing few last min things and I'll join them in few weeks.

Here is reply to your post.

1. School :
a. when should I plan to move considering the difference between the session closing month in US and session opening month in Pune ?
Schools in Pune start in June 1 st week. My kids moved there in April end just to give some time to adjust them for Weather and overall. So my kids missed last Term here in US.
b. how to get admission in a good school when the kids are in higher classes like mine viz. 10th and 9th ?
School admissions are bit tricky and difficult to some extent. Hindi language is compulsory there. So at 10th and 9th Grade it will be difficult for your Kids to learn them. But there is a school called "Sharad Pawar International School" where you can get admission anytime and you can select language from French or so instead of Hindi.
Here is the link for the school
http://www.internationalschool.in/school/
c. Are International Schools a better choice keeping in view the language barriers ?
Yes
d. What is preferable : State, CBSE or IISC (name ?) boards ?
My kids go to IISC

2. Taxes :
a. Do I have to keep filing taxes in US when I R2Pune even when I do not have any income in the US ?
Yes. US citizens have to pay taxes for the income earned anywhere in the world. Sorry no excuse and Escape :( :emsad:
b. What is the best way to handle taxes in both countries ?
Appoint CA there. File taxes there and then file Taxes for US where you can use Tax Treaty .
Here is the link :
http://unclefed.com/ForTaxProfs/Treaties/index.html
3. Finances :
a. Is it better to transfer the money to a bank with footprints in both countries viz. Citibank, ICICI or SBI ?
Personal preference !!
b. Is it better to keep the 401K open or close it ?
Again Personal preference !! But remember 401 is retirement benefit. So if you are retiring then you can close it.
4. Social Security :
a. Do I have to give the Pune address to Social Security Admn ? If yes, since I do not yet have a house in Pune, can I do that when I get settled in Pune, if not, how to handle this ?
You can update your address with SS anytime once you get permanent address in Pune.
b. Do I have to keep a US bank account open to Social Security remittances when it matures ?
Not necessary
5. Moving :
a. What documents (like Transfer of Residence etc.) need to be filled ? Where can I find the forms and the list ?
Search the POSTS on this forum.
b. Is it better to take back all the appliances (I have GE appliances) like washer, dryer, dishwasher, cooking range & hood etc. or dispose them off ? What about other goods, should they be transfered ?
Personal preference !! If they work on 220V then its advisable. Else ....
c. what is the maximum value of goods that can be transfered with Transfer of Residence without duty ? What is the paperwork involved ?
Check this link :
http://www.nrilinks.com/india/Customs/TranRes.htm

There are lot of links available on this forum. Pl check the forum.
d. How to find storage space in Pune if goods are moved there ?
I will give you few addresses in couple of days where you can store your stuff.
e. Is it better to move into an apartment first and then buy a house ?
If you are not from Pune, then yes. Or do you know where you are going to work ? I can suggest you few areas and depending on your requirement I can suggest you few places where you can get decent house in reasonable price and good service.
f. Is it better to buy or build the house ?
Building house in Pune is very expensive. But depending on your budget you can decide. comparitively buying an apartment is easy process.

Hope this helps !!

Hi

I am also planning R2I to Pune and would like to know from you which schools are good and if possible which school you have choosen for your kids with reasons if possible. My daughter is 7 years old.

Also you mentioned in your post that you can suggest some ares with decent housing with reasonable prices, can you please provide details.

Thanks,

Sam

i was told by an r2i member that billabong has the same education structure as any american school. it's in wanawadi, next to corinthian club

also symbiosis in yerawada

Is there a specific visa requirement for kids with US passport to attend schools in India? My son has multi entry type T visa (not sure what it means but I think it means tourist). Do you think I should apply for his PIO before moving to India ?

Please do share your thoughts.

Folks,

Do you bychance have an idea of how college admissions happen ? (11th and 12th in India).

If things work out the way we plan my child will do 10th here and then move to Pune for 11th and 12th and first degree.

Are there things like - merit list (based on 10th marks). How does it map to international qualifications ?
Also, the timings. The GCSE rresults here are most likely to come out in August. And the admissions there will happen much before that.
The subject choices ? For eg. to study subjects like Business studies, Sociology and Law what stream to they have to choose ? Arts or Commerce ? (unfortuantley i have no idea about the subjects under these two streams)
Which colleges in Pune are good for these subjects ?

Anyone in the same boat ? Please enlighten me.

Can I claim Transfer of Residence exemption if I have only 10 year Tourist Visa??


[INDENT]I am relocating to India in February 2011. I have a valid 10 year multiple entry Tourist Visa which expires August 2013. I understand that I need to present my US passport when I get my shipment cleared at Mumbai port. Will the Customs officials create any hassel if I don't get OCI before I leave for India? I was planning to apply for OCI when I reach India.

This is a big concern for me as I want to avoid paying any duty. I am only carrying old furniture and used personal items. No electronics and no new items.

Thank you very much in advance. [/INDENT]