pros and cons of dual citizenship with India


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LD   
Member since: Jul 05
Posts: 526
Location:

Post ID: #PID Posted on: 23-09-05 14:36:05

Incidentally none of the inward remittances go to Government of India, as it is personal money of remitters.

On the other hand it is left with the job of managing foreign exchange pressures on Rupee, which tends to appreciate, thereby hitting exports from India.

:(



goldeneye   
Member since: Mar 05
Posts: 454
Location: London, ON

Post ID: #PID Posted on: 23-09-05 19:43:51

Hats off for compiling all facts together .
Yes , I always suspected that an unrestricted dual citizenship will never be given by the "south block" babus..

TO put it simply, a dual citizen should just be able to retain his/her Indian passport . That is all . They can choose to use whichever they want while travelling. Of course our "babus" will never allow such "freedom" ..
Otherwise what is this "registration " / "Certificate" / "restricted rights" / " 4 months waiting" .. all new process carved out to keep themselves busy and gouge new fees from NRI's..

they really don't want to give an unrestricted dual nationality..
I think PIO card is enough or even better a 5 year multiple entry visitor visa to India,


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duncan   
Member since: Jul 04
Posts: 231
Location:

Post ID: #PID Posted on: 24-09-05 02:43:36

yeah I also support the idea of multiple entry visa to India instead of choclate painted chilly dual citizenship.
But y would the indian govt will give us multiple entry visa, when we had already surrendered the citizenship of India?
are we guys prepare to invest in Indian economy?
what is their benefit of issuing us the multiple entry visa?
I think if I am saving some money then I should invest it here in Canada itself rather then India, because I am living here and most likely will live here for rest of my life. So y should I invest in India?
and that is one reason I would prefer a PIO over dual citizenship, and that too because sometimes u need to show ur kids the land where u took birth, where u had grown up to a man. and how often u visit india? so better to have a multiplt entry visa or PIO instead of dual citizenship. where their are more cons then prons.


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Learn from past mistakes, Plan for future, Live in Present by Duncan


regretably canadian   
Member since: Aug 05
Posts: 36
Location:

Post ID: #PID Posted on: 24-09-05 21:54:30

Quote:
Orginally posted by duncan



I think if I am saving some money then I should invest it here in Canada itself rather then India, because I am living here and most likely will live here for rest of my life. So y should I invest in India?



Hi Duncan,
Now I know why you fit Canadian profile! Like a typical white guy, your analysis and reasoning lacks depth and betrays shallow knowledge.

Why would you invest in India? The reason is simple. Returns in India are phenomenal. The stock market boom during last four years has yielded extra ordinary gain and so has real estate investment. Your unflinching Bhakti for your adopted fatherland Canada should be guiding factor and you should never invest in India

By the way just for your enlightenment, I am aware about at least one mutual fund (EXCEL) that invested in India and earned one of the highest return!



Charlie   
Member since: Apr 05
Posts: 538
Location: Canada

Post ID: #PID Posted on: 24-09-05 22:28:51

Quote:
Orginally posted by regretably canadian

The stock market boom during last four years has yielded extra ordinary gain and so has real estate investment.



Do you have your money blocked in real estate at India. If that was the case you would have not mentioned this statement. You are one of the guys who go by news paper report.
If that is your argument, one of the real estate professional on CD has written couple of days back that real estate investment in GTA has a promising future. I would believe statement from the person in profession rather than paper reports. Which can change at drop of hat. What is wrong if person feel positive in place where he/she is staying. It is by any chance a safer than overseas investment . I did not know that last four years stock market in India has extraordinary boom when there is inquiry / investigation in progress for the un-warranted stock boom in India. Would you like to go back and check your records.


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duncan   
Member since: Jul 04
Posts: 231
Location:

Post ID: #PID Posted on: 24-09-05 23:42:14

I fully agree with charlie. Media reports never give ur money back if the stock market backhome will fall, and do u know anything bout investment in real estate?
rent law in India is from way back 50's when we got freedom (I am talking bout punjab). No major changes, if anyone occupies ur land or house worth crores, and u r sitting in Canada. then who u gonna trust, indian court. for that go to India every yr for hearing in court, and the case runs for 20-30yrs. give them a solid reason. cauz indian law says u can't vacate the house from tenant if u have a permanent polace to live. 60% cases in courts are of property disput only.
If u think u r very clever, then plz go ahead and invest anywhere in India by living in Canada. I prefer buying a piece of land in sask then in punjab, or maybe invest in some stock market elsewhere, where I can keep a check daily.
and for this if u call me turning and thinking up as a white guy, I would "no prob". think whatever u can. I don't care. cauz I had adopted myself to canada way of living. and moreover its CANADA wich had given me shelter, jobs, money to live, and allowed be to be part of it. so I will not at any moment curse this country like others. but at same time I respect my motherland, but that doesn't all me to curse Canada.
my beleive is:
learn from past mistakes,
live in present,
and secure ur future.

so acc to this theory if I invest in India, will it be secure? so better to invest in canada where I can keep a regular watch on investments.


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Learn from past mistakes, Plan for future, Live in Present by Duncan


regretably canadian   
Member since: Aug 05
Posts: 36
Location:

Post ID: #PID Posted on: 24-09-05 23:43:55

Hi Charlie,
No need for me to "go back" and check my report. I track my investment and returns online from Canada (Technology has advanced so much!) and I had my property in India when I came to Canada five years back which has appreciated considerably and I plan to sell it and make down payment here. So instead of putting stupid arguments like"It si nice to invest where you stay" start exploring opportunities which yield better returns. Every successful person does that and you do not have to show more loyalty than the Queen to prove that you are a good citizen. :D

I am not blind Bhakta of India. My point is that India is one of the fastest growing economy in the world while Canadian economic performance is mediocre! Try to learn something about finance. That will help you





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