By Ravi Shankar Singh, Managing Director, Residential Transaction Services, Colliers India
The recent statements on birthright citizenship by USA’s newly elected president, Donald Trump, have created apprehension amongst resident Indians in the country. A big question that has arisen pertains to investing and owning property. There is no need for worry, given that buying and selling of real estate in the US does not require one to be a citizen. However, recent trends have shown that NRIs have been actively investing in residential properties back home for a variety of reasons including wanting to be closer to their roots, higher confidence in India’s economic growth, and having a back-up plan should visa rules overseas change. While there is no need for legal immigrants to worry, it appears that this trend of NRIs investing in India will continue.
Mr Rishi Tiwari, Chief Business Officer, Square Yards
“The shift in US birthright citizenship policy, where children of immigrants may no longer automatically gain citizenship, could prompt many to rethink their future plans. Some might consider returning to India or investing in NRI properties as a long-term strategy. The model of earning abroad but eventually returning and settling in India might resonate more strongly among H1-B holders and other immigrant communities due to this change. Although there are options for faster green card processing through EB-1 visas, which extend benefits to spouses and children, this remains a pathway for select individuals. However, one should also be cognizant that property investment decisions are also influenced by factors such as value appreciation potential and tax advantages in a country. Given these considerations, the full effects of this policy shift can only be understood as time unfolds.”