R2I 2019: Both USC vs INC and Spouse USC

[bhogihari]

Hi All,

First of all, thank you very much all for your valuable posts in several threads which gives lot of insight on various R2I topics. Regarding me,
I have been in US from past 18+ years and with kids 9 and 6 Years and I am planning to R2I next year (wanted to go from the beginning) and I think I am almost all set with various questions I had earlier, but now struck with one below. Please advise. Kids and Wife All USC and I am INC currently. Have an USC interview letter in hand as well, which I am postponing. Couldn't completely decide whether one spouse USC vs one INC or, both USC is better as I am this close. Have some assets both in US and India. Earlier based on some threads, thought that one USC and one INC is better option.
Reason for R2I is to stay close to parents and live in India and Kids grow in Indian Culture. No plan of working in IT. Thinking of doing some organic farming etc, but not sure what I will end up in (but want to keep my options open being INC). I personally want to stay as INC (emotionally, as well as plan to do some business, in agriculture etc). But concerns if in future

1)If kids want to come back to US for education or so, then my GC/REP will expire in couple of years, and dont know what USCIS will do regarding applying GC through spouse in future, due to lot of changes happening. As long as I get a visitor visa without issues, then no problem. But couldnt imagine the situation that if I have no option to come to US if needed which is bothering me. Otherwise I would like to stay as INC.
Any R2I's or anyone please shed some light, what is the best option here. I know, its individual interest etc. But couldn't bite the bullet either way. Thanks in advance for your valuable suggestions.

[wd40]

I would suggest, renew your REP and then go to India, you have 5 more years after that I believe and then you can take a call.

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[bhogihari]

What do you mean by 5 more years. REP will be only for 2 years right?.

I would suggest, renew your REP and then go to India, you have 5 more years after that I believe and then you can take a call.

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[Dwija123]

Imho , It makes sense to take USC. The overall benefits of belonging to a stable developed democratic system which respects the rights of its citizen far outweighs the little inconvenience of duel taxation / financial burden. Also the financial aspects once streamlined ain't so bad. For me every year I am getting $1000 from US because of child credit even though I don't feel like taking it. Moreover the the earnings above the permissible limits of MFJ under duel taxation, usually get compensated by it.

[Old-Spice2]

Imho , It makes sense to take USC. The overall benefits of belonging to a stable developed democratic system which respects the rights of its citizen far outweighs the little inconvenience of duel taxation / financial burden. Also the financial aspects once streamlined ain't so bad. For me every year I am getting $1000 from US because of child credit even though I don't feel like taking it. Moreover the the earnings above the permissible limits of MFJ under duel taxation, usually get compensated by it.

Not true - many Americans (read white) settled in EU are giving up their USC as local bank and financial institutions deny them service. Not sure when it will start in India. Already many Indian MF companies do not accept if you are GC/USC. Once the bank realize their compliance cost is higher than what they get in return, they will shut out USC from banking system.

Also if GC/USC wants to open a business it is a total nightmare as you have to file tax returns in both countries. College fees/admission for OCI are higher in some places. It is better to have the citizenship of the country where you plan to live long term.

[bhogihari]

Thank you Dwija and Oldspice2 for your inputs...