Is asset enough for sponsor?

[Island1902 0]

Hi, my husband co laid off last June so we might need co sponsor if we have enough cash in the bank that is above poverty is that sufficient enough of not having co sponsor? The cash is actually transfer by me as I am currently working and have some savings.

[Old Dominion 26]

You will need a cosponsor. There must be sufficient ANNUAL income to support both of you, in addition to any assets such as a savings account.

[kaffy 2]

Q: May the petitioner/sponsor count assets to meet the 125 percent minimum income requirement?

A: Yes. The sponsor counts his/her U.S. income first, not foreign income. Next he/she counts the personal assets and/or the income and assets of household members who have signed an I-864A. If, using all of those sources, the minimum income requirement is met; the affidavit would be "sufficient."

To be counted, the cash value of assets must equal five times the difference between the sponsor's income and 125 percent of the poverty line for the household size.

(For spouses and unmarried children under 21 years of U.S. citizens, only three times the difference between the applicable income threshold and actual household income is required). For example, a petitioner/sponsor with a household size of four and an income of $18,000 would need assets equal to five (or three) times the difference between his/her income and the income required for a family of four at the current federal poverty guidelines level. He/she would also need to show evidence of mortgages, liens, and liabilities against the assets.

Source: http://canberra.usembassy.gov/consular/vis.../affidavit.html

[YuAndDan 153]

Asset alone needs to equal 3 times 125% poverty line.

So 52,500 in assets are needed to replace 17,500 in income.

[Penguin_ie 5,992]

You can do it on assets alone, we have, but like was mentioned above it needs to be assets worth 3 times as much as the annual 125% above poverty guideline. They tend to prefer assets which are US based, though this isn't a written down requirement.

[pushbrk 12,569]

You can do it on assets alone, we have, but like was mentioned above it needs to be assets worth 3 times as much as the annual 125% above poverty guideline. They tend to prefer assets which are US based, though this isn't a written down requirement.

I'll jump in to explain the discrepancy between the accurate citation showing 5 to one and the asserted 3 to one. Three to one works for a fiance or spouse. Other immigrant relationships require five to one.

This is a function of substituting assets to cover an income shortfall, so income is the standard you start with. Generally, "liquid assets" defined as reasonably converted to cash within 12 months. If all the assets are in the family home, they tend to discount whether the sponsor would actually sell their home to support the immigrant.

Edited December 19, 2008 by pushbrk