Considering the Move Back to India

#1 Apr 14th, 2011, 19:57
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  • DAWagh is offline
#1
Some history.

I was brought up in Mumbai and was 20 when I left 28 years ago, I have now got a retirement income of around INR 60,000 a month, which will increase as its index linked in the UK.

Q 1. Is that enough to retire back to India.

Q 2. Will I need to have another job to supplement income.

Also I have held an Indian passport as a citizen in the past, it may still be active as I did not relinquish it when I left as I left on a British passport, how will that change things.

Will I need to pay local taxes from income earned in the UK, where I am already paying tax on it.

Any help is greatly appreciated.

Dilip
#2 Apr 14th, 2011, 20:04
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  • narendra.d is offline
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Quote:
Originally Posted by DAWagh View Post Also I have held an Indian passport as a citizen in the past, it may still be active as I did not relinquish it when I left as I left on a British passport, how will that change things.
India doesn't do dual citizenship. So when you took British Citizenship it is assumed you have relinquished the Indian citizenship.
#3 Apr 14th, 2011, 20:12
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Thanks Narendra, I just mentioned it as I could retake citizenship if I wanted to, could I not.
#4 Apr 14th, 2011, 20:15
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I don't think it is going to be easy. But PIO/OCI should be easy, not sure which is applicable to you.
#5 Apr 14th, 2011, 20:17
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Father Indian, Mother English
#6 Apr 14th, 2011, 20:38
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Dilip

One of the most important things that needs to be considered while considering R2I after so many years in the West is "why"? There has to be a solid reason for this that is not based on emotion (miss my country, my parents and so on). There is an excellent discussion group at R2Iclubforums.com that I highly recommend - it is well moderated and covers all possible topics valuable to R2I candidates.

Re: citizenship; is there any particular reason for wanting to get the Indian one back? Something that will not be possible with PIO/OCI? Think long and hard because you will have to give up the UK citizenship if you get the Indian one back. What if in 2 years of R2I you decide that this is not working out and you are better off back in the UK?

What about your family? Their needs have to be considered too.

There is a lot of soul-searching that needs to be done. How often have you visited India and for how long on each visit? Under what circumstances (e.g., as a tourist staying at the Taj or Sheraton), taking local trains in Mumbai. Think about every-day chores like getting a phone connection (or mobile through post-paid rather than pre-paid), getting address proof which seems like an insurmountable task (at least for me since at IIT KGP I do not get any bills but, expenses are taken off in the pay), driver's license and so forth.

Your monthly retirement income would seem adequate for a Tier II city, though I am not sure if that is the case about the Metros.You will need to do a complete analysis (e.g., do you already own a flat/apt/house in India that is paid off or will you need to rent and in which city?). More importantly, it will depend on your lifestyle (e.g., going to pubs, dinner, traveling) and an important consideration is how are you going to keep yourself occupied (some hobbies/interests cost more than others, e.g. if you love golf like me, the monthly retirement income will not be enough).

Almost like your case, I left at 21 and returned at 48 and so can relate to your dilemma. At least I am at IIT, KGP with a full time Professor position and so my monthly income takes care of my expenses rather handsomely. I do not need to touch my retirement funds and can build one more in India.

Cheers

Nattusbs

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