I-864 - No US income, but enough assets =OK?

[dr_astin 0]

I'm a U.S. citizen 33 y.o. living in Norway since I was 6 y.o.

I met my girlfriend (35 y.o.) in Japan while I was there in oct. 2007. We want to live in Hawaii.

After reading answers from an older question and other topics on VJ I'm thinking about doing DCF from Oslo, Norway

From the VJ-guide about Affidavit of Support:

"When assets are used, the assets must equal 5 times the difference between the annual income and the

needed 125% of the poverty level, this is because the affidavit is in effect for 5 years. For instance, if you

needed $15,500 income and had an annual income of $13,500, you would need an extra $2,000 of assets for 5

years, or a total of $10,000 in assets in addition to your income. In general, if you are deficient on yearly income

for sponsorship and your assets are somewhat borderline, do not take chances--have a co-sponsor. If you do not

have a job or a steady income from other sources (such as retirement income), you will likely have to get a

co-sponsor for your spouse, even if your assets are adequate. The USCIS looks VERY CLOSELY at current income

and not just the assets."

None of us will have a U.S. income before we move to the U.S. I have 60000$ in bank savings, stocks worth 75000$, My only debt is a student loan 35000$. Don't own any house or apartment. Car is worth 5000$, will be sold. My dad has stocks for 35000$ in my name.

I have always filed tax returns to the U.S. earning 70000-90000$.

My girlfriend has no debt, 40000$ in savings.

I understand that if we are married we need 3x, not 5x for the Hawaiian poverty level 20950$ x 3 = 62850$. We should have enough for meeting the 125% poverty level even if we don't have jobs arranged.

The bold text I what worries me. I don't have any close relatives in the U.S. that I would ask to sponsor us.

I'm a civil engineer, she is a nurse and has worked in Hawaii 1 month as an intern (exchange program)

Has anyone been in a similar situation with enough assets but no ready jobs or sponsors or is the text misleading?

Thank you for reading

[trailmix 77]

I have. I was not working when I sponsored and used assets. We did not use a cosponsor. They did look at my last 3 years of tax returns, obviously to confirm I could in fact earn an income. This may vary from consulate to consulate, but Montreal had no problem with it.

Good luck.

Edited January 3, 2010 by trailmix

[Darnell 8,478]

I not show income , I showed cash assets, a sizeable amount, 6 digits.

I did show my income taxes, but they are scant, as I'm a corporate entity, rarely 'pay myself' a salary. Was a PITA for me to shift to cash, but to make this pile o assets, seemed the way to go for me.

So thats what, for you? 60K in cash, 75K in stocks, minus 35K in student loans. That's still over 100K in assets - You'll be fine. Your 'exempted income' amounts on the USA tax return will not be an issue, as well.

BUT - make sure all is IN your name, solely. Not joint accounts, at this point, for prove-up.

Good Luck !

Edited January 3, 2010 by Darnell

[dr_astin 0]

Thank you for your reply!

Next question: Did you have to transfer assets to U.S. banks/USD ? I would prefer to open a US bank account and transfer 10-20000$, and keep as much as possible in Norwegian banks and Norwegian kroner at least the next two years. My girlfriend would also like to keep a part of her savings in yen (speculating that the dollar can drop in near future).

[trailmix 77]

Ours was in Canadian funds and USD (but all in a Canadian Bank). It really shouldn't be a problem - it is cash after all.

Oh and as an aside, ours was a joint account - just so you know, there is no problem with that, perfectly acceptable.

[Penguin_ie 5,993]

We also did DCF based on assets only; as long as you are comfortably over the poverty guidelines, you should be fine.

As to whether the assets need to be US based or not; it depends on the embassy. I know the Irish one requires most assets to be US based(we transfered our savings over there and purchased a house in the USA, which also helped re-establish domicile for my USC husband).

[Anh map 2,098]

Here is a I864 FAQ link from the State Dept. website >>>> http://travel.state.gov/pdf/I-864GenInfo-FAQ-Final.pdf

It seems that as long as there are no limits on how much can be taken out of the respective countries the assets can be overseas.

In that FAQ it says:

Can the immigrant visa applicant count assets that he or she owns that are outside the United States, such as real estate or personal property?

Yes, under these conditions:

• The assets must be readily convertible to cash within 12 months

• The applicant must show that he/she can take the money or assets out of the country where they are located. Many countries have strict regulations which limit the amount of cash or liquid assets that can be taken out of the country.

[smdexpat 0]

Hi

We did DCF through Switzerland two years ago and had a similar situation, except for the fact that I had a job offer pending successful completion of the Green Card approval process. I had more in cash assets than you do, but my wife didn't have much in personal assets.

I was not required to secure a co-sponsor and the fact that my wife was not planning on working didn't seem to be a major hurdle. However, the job offer and my immediate intent to start working were seen as very positive.

I would advise trying to secure a job offer if you can - even if it is much lower salary or entry level than you would otherwise consider. If you're both employable and don't have any dependents, it should be OK.

best of luck

[christeen 966]

We recently used assets when filed from Italy... However they required that we show the 125% x 5 years in a US account in the US citizens name... So we had the 56k moved into a US account and showed that as proof... They did not accept the funds (which were well over that) that were in the Italy account since the consulate said they have no jurisdiction over those accounts and cannot verify that they really do exist...

[trailmix 77]

Yes, each consulate looks at these things differently, always wise to check with them directly

[Luckywife2007 6]

We recently used assets when filed from Italy... However they required that we show the 125% x 5 years in a US account in the US citizens name... So we had the 56k moved into a US account and showed that as proof... They did not accept the funds (which were well over that) that were in the Italy account since the consulate said they have no jurisdiction over those accounts and cannot verify that they really do exist...

Sorry to ask this late past the actual post.. BUT we have the sanme situation... no Job in the states and just money in my savings acct here in Turkey...and it is just the 2 of us.... so is 56K enough that is 3x $18,212

[Luckywife2007 6]

We recently used assets when filed from Italy... However they required that we show the 125% x 5 years in a US account in the US citizens name... So we had the 56k moved into a US account and showed that as proof... They did not accept the funds (which were well over that) that were in the Italy account since the consulate said they have no jurisdiction over those accounts and cannot verify that they really do exist...

Sorry to ask this late past the actual post.. BUT we have the sanme situation... no Job in the states and just money in my savings acct here in Turkey...and it is just the 2 of us.... so is 56K enough that is 3x $18,212

Thanks!

[himher 634]

We have 4 1/2X for our household size and it is all in cash / stocks / bonds (mostly cash) and all in the US. We just sent in Packet IV and I was worried about this because even though our income here is very high I will not be able to show income in the US until after we move there and we do not wish to use a co-sponsor.

I thought it was 3X for a spouse, not 5X......

Edited September 27, 2011 by himher

[shiggins9 0]

dr_astin

Are you still on the site? Curious if you just used assets and no income.

I'm in a similar situation. I'm American and want to move to the US from China with my Chinese wife. I'm a musician and rarely if ever have any reportable income from W2s and 1099s. I have filed taxes for the last 10 years although the salary has been below the poverty level. I won't have a recognized job in the US, no provable past salary, but have about USD200K in my US bank account. I'd prefer not to ask my dad for help as I'm 34 years old and this shouldn't concern him. Can I be my wife's only sponser and just use my bank account as proof?

Thanks all!

[Penguin_ie 5,993]

***** This thread is 6 years old, and the Op has not been on VJ since shortly after that. Please start your own thread for your own questions; as experiences and policies change with time too. ******