Recent US passport

[fullerene]

Hello - I am 47 years old and a month ago acquired a US citizenship through naturalization. We live in Ohio and I am employed full-time here. I know I have to surrender my Indian passport. Please advise next steps -
1. Surrender of Indian passport through the Indian consulate in New York
2. Apply for OCI/PIO?
3. In my research, I find that I will have to apply for a new OCI when I turn 50. But I will need to travel to India early next year. So my question is that should I just apply for an Indian visa (5/10 years) and then when I turn 50, I apply for an OCI/PIO?
4. I have some property inherited from my deceased parents which I still own. Its agricultural land. I also have some money tied in the banks which I again inhertied after my mother's death.
So with all this known, please advise if I proceed with surrendering my Indian passport immediately, will it cause complications with my investments in India.
I will need to travel to India for both business and to take care of some of the aforementioned investments either during March/April next year.
Looking forward to your responses.
Thanks

[puma]

Hello - I am 47 years old and a month ago acquired a US citizenship through naturalization. We live in Ohio and I am employed full-time here. I know I have to surrender my Indian passport. Please advise next steps -
1. Surrender of Indian passport through the Indian consulate in New York
2. Apply for OCI/PIO?
3. In my research, I find that I will have to apply for a new OCI when I turn 50. But I will need to travel to India early next year. So my question is that should I just apply for an Indian visa (5/10 years) and then when I turn 50, I apply for an OCI/PIO?
4. I have some property inherited from my deceased parents which I still own. Its agricultural land. I also have some money tied in the banks which I again inhertied after my mother's death.
So with all this known, please advise if I proceed with surrendering my Indian passport immediately, will it cause complications with my investments in India.
I will need to travel to India for both business and to take care of some of the aforementioned investments either during March/April next year.
Looking forward to your responses.
Thanks

You have to apply for Renunciation and PIO together. I don't see a need to get OCI anymore...
As far as visa they require you to upload the renunciation first. So without delay, you need to apply that. Visa fees isn't worth as you are eligible only for 10 year visa. The cost of visa and renunciation is as near as PIO and renunciation. I just applied for PIO+renunciation and the process is smooth. The fees is $575 in total. See my thread on adult pio processing time where i posted documents list.

[fullerene]

Thank you for your response! However, you are the first person telling me to get a PIO..Everyone I talk to tell me to get an OCI..I am basing your comment on the Sep 30, 2014 announcement and most of my friends must only be telling from past experience. Can you please elaborate on why the PIO is a better choice and what exactly has changed since Sep 30, 2014?

Based on what you say, it is clear that I should be pursuing the PIO application pathway and not the 10 year visa or the OCI option.

[puma]

Thank you for your response! However, you are the first person telling me to get a PIO..Everyone I talk to tell me to get an OCI..I am basing your comment on the Sep 30, 2014 announcement and most of my friends must only be telling from past experience. Can you please elaborate on why the PIO is a better choice and what exactly has changed since Sep 30, 2014?

Based on what you say, it is clear that I should be pursuing the PIO application pathway and not the 10 year visa or the OCI option.

My recommendation is go for PIO. PIO is issued by consulate here so the process is usually shorter (3 weeks) rather than 3 months OCI process.
Fees is the same. The benefit are same now. Infact OCI holders need to renew once they reach 50 whereas PIO doesn't require. This sheds the difference

/compare-oci-card-with-pio-card/

The 10 year visa fee along with renunciation would cost you around $350 and the PIO cost $550

[obwankanobi]

My recommendation is go for PIO. PIO is issued by consulate here so the process is usually shorter (3 weeks) rather than 3 months OCI process.
Fees is the same. The benefit are same now. Infact OCI holders need to renew once they reach 50 whereas PIO doesn't require. This sheds the difference

/compare-oci-card-with-pio-card/

The 10 year visa fee along with renunciation would cost you around $350 and the PIO cost $550

I think PIO is best. OCI is a big painful process and after 50 it needs to be revised. Whoever comes with this mindless rules is barbarian. OCI is meant to be lifelong entry document. Why does it have to be renewed from 0-21 and 50-end of life..
Whole purpose of OCI is meaningless.

I will go for PIO.

My kids have PIO and they don't have to renew again...event if stamp indicates expiration date. I clarified with Embassy in DC. Expired PIO issued before OCT-2014 will be honored at POE in India.

[fullerene]

THank you everyone for your feedback !
One final clarification though !
I was under the impression all along that people preferred the OCI to PIO. I can understand why because before Sep 30, PIOs were valid for 15 years whereas OCIs were lifelong. Is this correct?
Now that the Govt of India has relaxed rules and made both PIO and OCI lifelong, is that why everyone here is recommending PIO over OCI in addition to the shorter processing time?
Am I losing out on anything by going for the PIO vs OCI? Sorry to keep harping on the same question but just want to be really sure...
Its a lot of money and want to ensure that I make the right decision
Thanks

[fifteen]

With the 30 September changes that affect only the PIO, it seems that for most applicants the PIO is preferable to the OCI. The PIO is now lifelong (it was only valid for 15 years earlier) and has to be issued only once. The OCI has to be renewed periodically for those 50 years or old. The PIO application is shorter and simpler and the processing period is shorter less than a month. The OCI application process is far longer and involves New Delhi. Cost wise the PIO is more expensive ($365) than the OCI ($275) but just by $90. The other difference is that on PIO you have to stay in India for 7 years if you want to regain Indian citizenship while on the OCI is 5 years. For most people this difference probably does not matter.

Hopefully, more changes will happen in the future that will lead to a single PIO/OCI card and save us this hand wringing about which one to apply for.