Immigration lawyers list things people should consider before getting a green card.

A green card It is the most prestigious status for foreigners in the US but one immigration lawyer warned that before getting a green card, people should remember that it is not something they can throw away later; It comes with its own terms and conditions and one has to fulfill all of them. Immigration attorney Adrian Pandev said many of his international clients treat green cards like a trial run and a long-term visa that will expire. But green card holders have to pay taxes in the US on their worldwide income and face consequences if they fail to do so.

Tax

“The foreign company you own, the rental property at home, the dividends from your investments abroad, all of this is now subject to the US tax system,” Pandev said.

penalty in excess of tax

“On top of this you pick up a long list of foreign reporting obligations such as FBAR, FATCA and Form 5471 for foreign company equities, the penalties for missing filings for which are often larger than any taxes you owe,” the lawyer advises.

have to live in America

“There’s also a timing issue that most people don’t think about. If you spend too much time abroad the U.S. government may take the position that you gave up the green card,” Pandeev said. To retain a green card, one has to stay in America continuously for six months.

Examination at the time of re-entry

Failure to comply with the 6 month requirement will result in additional testing upon your re-entry. “This could mean that you will be dragged through secondary screening when you enter the country or even referred to an immigration judge to protect your permanent resident status,” Pandev said.

exit tax

If someone remains a green card holder for a long time and then decides to leave, an exit tax must be paid to the US on worldwide assets.“If you’re not ready to commit to the U.S. for a long time, a green card may not be the right move,” Pandev said.