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  #16 (permalink)  
Old 07-28-2009, 06:05 PM
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uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of
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Quote:
Originally Posted by praveenuppaluri View Post
Uma, I agree the daily life of IT person working in any corporation with international client is definitely tough, its a personal preference.. some like it and some don't. but thats not the discussion here..

with $500K in hand, which is better? (a) is buying a GC worth it or (b) going to India and starting a business is better and I would prefer the latter.. thats a personal choice and my argument is, you are better off with trusted people (like parents, close relatives) around you when doing a business than here where you depend on yourself. Say you open a car dealership, contacts in India are easier then getting them here. ofcourse, it depends a lot on the kind of business but if you are OK to work in a low stress job (if there is such a thing) then $500K is a lot to lead a peaceful life in India with that job.

on a personal note, do you know if your 6 years H1B will get renewed for another 6 years if you just live outside USA or should that be in your home country? as my profile says, my GC is not started yet and I working on my options.. say I work from Europe for 18 months, will my H1B get renewed if I find an employer?

praveen,

Yes, you can get 6 years of H1 again after you stay more than one year in Europe(example). it snot renewal, it is new H1.
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  #17 (permalink)  
Old 07-28-2009, 06:06 PM
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can somebody explain how my 5 red dots changed to 3 greens????
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  #18 (permalink)  
Old 07-28-2009, 06:21 PM
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Default Uncertainity

While getting EB-5 is a good approach. This process is also plagued by uncertainity. I did read some news report (or newsletter from some lawyer) that many EB-5 green cards get delayed by 4-5 years due to USCIS delays (and also cost additional lawyers fees). In many cases there is also a lot of rejection 2-3 years down the line as USCIS changes the goalpost. Even in the 5 projects listed in the link, 2 are held up due to lawsuits/lack of additional capital. Not sure if this would mean that USCIS would cancel these green cards as they did not create the required jobs. This uncertainity (according to USCIS Ombudsman) is a big soure of discouragement.

BTW, while we are it, does anyone know if this money has to be all income or some of it back be financed from banks etc ?

Last edited by gauravster; 07-28-2009 at 06:25 PM.
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  #19 (permalink)  
Old 07-28-2009, 06:22 PM
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Default

Agreed. But still I doubt even 95% of working people waiting for GC here would not have
500K in bank balance even after slogging for years. In that sense 500K is still a big amount.

Quote:
Originally Posted by stemcell View Post
Actually sanjay 500K doesnt go far these days in india.....10 yrs ago it was a different story.

Last edited by DSLStart; 07-28-2009 at 06:24 PM.
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  #20 (permalink)  
Old 07-28-2009, 06:30 PM
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uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of uma001 has much to be proud of
Default

Quote:
Originally Posted by DSLStart View Post
Agreed. But still I doubt even 95% of working people waiting for GC here would not have
500K in bank balance even after slogging for years. In that sense 500K is still a big amount.
Absolutely, now we need to find ways to make 550K.
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  #21 (permalink)  
Old 07-28-2009, 06:45 PM
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Default With 500K, I would retire for good

Guys, with Rs 1 Cr, fixed deposit, interest paid Quarterly, It is now fetches around 8 percent - which means around Rs 60K+ per month.

with 60k/month, why you want to work.

The way IT life is going on currently , stress full and stretch full, every one will retire by 50 years of Age.

with US 500K. Retire early, enjoy the life.
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  #22 (permalink)  
Old 07-28-2009, 06:57 PM
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Talking You didn't get on anyone's nerves this time...

I wonder what your previous topics are..

some people agreed with you this time and added to your reputation (the balance thingy next to topic heading)..

Quote:
Originally Posted by uma001 View Post
can somebody explain how my 5 red dots changed to 3 greens????
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  #23 (permalink)  
Old 07-28-2009, 07:14 PM
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Default

Quote:
Originally Posted by praveenuppaluri View Post
I wonder what your previous topics are..

some people agreed with you this time and added to your reputation (the balance thingy next to topic heading)..
Praveen,

Previous topics were sort of joke/funny. But people took it the other way and gave me red dots.
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  #24 (permalink)  
Old 07-28-2009, 07:18 PM
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Default

Quote:
Originally Posted by DSLStart View Post
Agreed. But still I doubt even 95% of working people waiting for GC here would not have
500K in bank balance even after slogging for years. In that sense 500K is still a big amount.

Its true... $500K is really a big amount for people who work even in US for several years on H1B. But by seeing CIS' back and forth date movements and there by making us fools, I hope $500K target will be comparitively easier
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  #25 (permalink)  
Old 07-28-2009, 07:54 PM
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Default Guys I did plenty of research...

Bottom line is unless you have legal 500k USD in your bank account . this program will not work for you. Even if you do and if program where you invested fail to create jobs.. You are at risk. once you invest you are stuck for 3-4 years. You cannot pull money. Also none of company out there specify exit strategy. To even start whole process Admin fees are aorund 50k.......

I think it works only for real rich people from poor country or may be little rich people from UK.. ( their rate is higher than dollar or for Rich Arabs..
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  #26 (permalink)  
Old 07-28-2009, 07:59 PM
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Default

If one have 850k including tax in bank here in US, then they can try this option, Better one is construction of a motel along with others or construction of apartments when the real estate boom starts again. Also investing in farm fields in california is good option.
Assume that you made this much money in stocks (850k), then you are on the way to get green card in 3 years
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  #27 (permalink)  
Old 07-28-2009, 08:18 PM
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Default

I have around 1 million dollars spread out in equity in Real estate. may be I should pull the money out and do EB 5 program
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  #28 (permalink)  
Old 07-28-2009, 08:29 PM
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Quote:
Originally Posted by NNReddy View Post
I have around 1 million dollars spread out in equity in Real estate. may be I should pull the money out and do EB 5 program

You can still invest that in Real Estate towards EB5 .Yes, You need to pull out and invest.
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  #29 (permalink)  
Old 07-28-2009, 08:44 PM
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NNRedddy ,

Man you have made quite an amount here , we should probably take financial advise from you
Quote:
Originally Posted by NNReddy View Post
I have around 1 million dollars spread out in equity in Real estate. may be I should pull the money out and do EB 5 program
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  #30 (permalink)  
Old 07-28-2009, 10:07 PM
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I dont mind giving 100000 and I dont need money back. Just GC is all I want. Is there any such organization who can do it for us.
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