I-864, Exchange Rates ?

[flanags 0]

Does anyone know if we need to convert foreign assets to USD or do I just add the currency code used for the asset.

If I need to convert to USD is there a required agency that I need to obtain the exchange rate from ? (also I assume I need to supply the date of the rate somewhere too)

Any help would be greatly appreciated.

[omo9ja 1]

Log on to www.xe.com

[I AM NOT THAT GUY 5,715]

I don't think foreign assets will help.

http://www.visajourney.com/forums/topic/309723-end-k-1-visas-now/page__view__findpost__p__4662470

[flanags 0]

Really- foreign assets won't help ?? Not even foreign cash ?? I would imagine that most DCF's would have foreign bank accounts/ assets. I thought it was any asset that could easily be converted to USD and/or sold withing 12months and not cause hardship can be used.

We are planning on using only assets to meet the I 184 requirement as neither of us will have jobs (income) when we move. We have enough cash to meet the poverty guidelines but most of that is in AUD.

Any others have experience with this???

[flanags 0]

Some old guy,

I read your thread you listed, thank you and it was talking about Foriegn income. That, I'm not trying to use. Although my husband has an income here I can't list it on the I 184 because once he moves to the US - that income will no longer exist (unless his job wants to relocate him to the US).

I was specially asking about assets.

[Penguin_ie 5,993]

Like with everything to do with DCF, it depends on the consulate. Most US embassies will require the assets to be US based, because it would be difficult for them to get hold of foreign assets, should the immigrant become a public charge. Ireland required that all assets we used were USA based. So we transfered all our savings into my USC husband's US bank account, and then bought our house in Arkansas with some of the money (this also helped with proving domicile).

[flanags 0]

Penguin -Thank you for that. it does help explain why foreign assets could be a problem. Hmmmm - what to do. We do have a US bank account with assets- if it's an issue- like you we'll transfer the $$ into the account. Thank you both for the heads up !!!!!

VisaJourney ROCKS !

[himher 634]

Good info and thank you. In prep for this process we transferred everything to the US so it appears we did the right thing.

Like with everything to do with DCF, it depends on the consulate. Most US embassies will require the assets to be US based, because it would be difficult for them to get hold of foreign assets, should the immigrant become a public charge. Ireland required that all assets we used were USA based. So we transfered all our savings into my USC husband's US bank account, and then bought our house in Arkansas with some of the money (this also helped with proving domicile).

[Barbara J 115]

Does anyone know if we need to convert foreign assets to USD or do I just add the currency code used for the asset.

If I need to convert to USD is there a required agency that I need to obtain the exchange rate from ? (also I assume I need to supply the date of the rate somewhere too)

Any help would be greatly appreciated.

If you are talking about just cash then just close your AUssie account and have it transferred over to your US account. This is what I did and had no problem. I actually opened an account when I was here on a visit and used that to put my money into. And as the exchange rate is so good at the moment its a good time as you wont lose too much on the rate of exchange.

[flanags 0]

I did a little bit more digging because I knew I read somewhere about foreign assets being used on the I 184. Although it's best to put in a US bank account there may be many DCF's that can't open an account in time etc. Basically they can be used.

Direct Quote from:

http://travel.state.gov/visa/immigrants/info/info_3183.html#22

" 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 the following conditions:

The assets must be convertible to cash within 12 months

The applicant must show that the assets can be removed from the country where they are located. Many countries have limits on cash or liquid assets that can removed from the country

The net value of assets is at least five times the difference between the sponsor's income and 125 percent of the poverty guideline for the household size."