Best way of using intending immigrant's assets

[TheirLax 0]

Hi,

This is jumping the gun a bit (my K-1 interview isn't until next month), but I'd like to have a plan for the financial requirement part of adjustment of status in place before I travel.

My fiancé's income is less than $20,025 (125% of the 2016 poverty guidelines for what our household size will be). It's not even close. His father is willing to co-sponsor me for the K-1 visa, but he was unwilling to send me the I-134 because it contains his private financial info, and has instead sent it to the embassy directly. I don't think we'll be able to use him as a joint sponsor for adjustment of status because a) it's a much more serious commitment, and b) my understanding is that we'd have to file the I-864 from him in the same package as the rest of the forms, and so he would have to let us see it (and so his financial info).

I have approximately £100k (~$140k) in a UK current account that I'd like to use to make up the difference between my fiancé's income and the threshold. I'm aware that the rules allow for this, if we can prove ownership of the money and provide 12 months of bank statements. I'm not sure what the best approach would be, though. I think we have three options:

Transfer the money to my fiancé before I leave the UK

Advantages:

• I can deal my bank getting spooked by such a large transfer in person, while I'm still in the UK
• The assets would be in the US, in USD

Disadvantages:

• Could be viewed as me 'paying' my fiancé for a green card
• The money would no longer be mine
• The money would have suddenly appeared in the account, so it could just be a temporary loan for us to get through AOS

Open a joint account in the US with my then-husband after entering the US and getting married, but before adjusting status

Advantages:

• Strong evidence of commingling finances!
• The money would be in the US, in USD

Disadvantages:

• Possible problems with my bank getting spooked by such a large transfer from my account being requested from outside the UK
• We would not have 12 months of bank statements for the account
• The money would have suddenly appeared in the account, so it could just be a temporary loan for us to get through AOS

Keep the money in my UK account

Advantages:

• No large transfers from my account that could spook my bank
• I have paper statements going back to the start of 2015 showing the money building up in the account

Disadvantages:

• The money would not be in the US and would not be in USD
• I don't know whether my bank (Halifax) would allow me to have a non-UK address on my account, so the most recent statements I'd be submitting might have my parents' address
• Foreign assets might not be accepted for AOS
• Might need to have 5x instead of 3x the difference between my fiancé's income and the threshold (is this correct?), so the amount might be less convincing for AOS

I'd prefer to do the middle option (joint account in the US), if possible. Is this sensible? Would another approach work better?

1) Can we use the statements from my UK account to show that the money that would be in the US account would be from my UK account and fully available for supporting me? They would show a large transfer out, but I don't think there would be anything concretely linking it to the corresponding deposit in the US account. I'd be using Transferwise for the transfer, and it looks like they don't include the reference number from the sender in the deposit to the recipient's account.

2) How can we prove ownership of the money? The statements for my UK account show my name with initials and my address (e.g. Miss I M Bewildered, Flat 7, 8 Thames St, London (not my actual address)), but no birth of date or phone number.

3) Am I correct in thinking we should put any money in a joint account in part 7.1 of the I-864, i.e. the sponsor's assets, even though the money would have come from me?

Thanks for reading! Hopefully there's an easy answer to this.

[Anh map 2,098]

The money can be in your name, no need to transfer it into another person's name. With that much London may accept your assets for the I-134. Check the embassy website. Other VJ members going through London have done similar things.

For the AOS having the cash asset in your name is not a problem. Read through the I-864 and you will see where the beneficiary can use their assets/income.

Edited March 13, 2016 by Anh map

[Anh map 2,098]

FWIW, the only thing that "dad" has to show is an income that meets the requirement, not his entire portfolio. Now if he's self employed, then there is more business info in his tax return. So it's a lot better if you don't need his "help."

[TheirLax 0]

Thanks Anh map. I agree it would be better if we can avoid using my fiancé's father as a joint sponsor.

If I use my UK account for AOS, would it matter that the money would not be in the US? Would my monthly bank statements be enough proof of the amount of money and that I own it?

[Anh map 2,098]

Thanks Anh map. I agree it would be better if we can avoid using my fiancé's father as a joint sponsor.

If I use my UK account for AOS, would it matter that the money would not be in the US? Would my monthly bank statements be enough proof of the amount of money and that I own it?

It's up to the officer adjudicating the case. There have been other VJ members from Europe that have been able to use assets located in their home countries. If you're not ready to move it over to a US account then it seems like it would be ok. It may mean having to show 5 times rather than 3 times the income amount. The bank statements are what you would use to show that you've held the funds for a decent amount of time.

Also, don't sweat your bank being "spooked" by transferring funds, that's what they do. It's yours, do as you see fit.

I'm confident other VJ members will join in with their first hand experience with self-sponsoring.

[TheirLax 0]

Thanks! I'm prepared to move the money to a US account, I'm just concerned about problems arising from not being able to show 12 months of bank statements for the US account.

[Anh map 2,098]

You would have the statements from your UK bank, any transfer documentation, and statements from the US bank. That ought to lay it out clearly.

[Nich-Nick 3,354]

Firstly. You do not need father for the visa. Take some financial statements to your interview to show you have money. There will be no I-134 because you are self-sponsoring. Positive.

The I-864 process is not as complicated as all your scenarios.

• Money does not have to be in the US a year.
• Banks don't get spooked.
• Dad could put his in a sealed envelope marked--Confidential USCIS only--and you include that in your packet. But I don't think you actually need Dad for AOS.
• You have UK statements to show ownership prior to transfer if you do transfer.
• Money can be in your name only. Sometimes K1s get hassled by banks allowing them accounts prior to having a greencard. Not everybody, but their can be hitches sometimes. A K1 is little more than a 90 day visitor on paper and some banks just can't figure out what to do with them.

Some snippets from the I-864 instructions

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included. The owner of the asset must include a description of the asset, proof of ownership, and the basis for the owners claim of its net cash value.

Cash in UK bank is liquid and only needs a transfer which wouldn't take one year or be a hardship.

Item Numbers 6. - 9. Assets of the Intending Immigrant. You may use the assets of the intending immigrant regardless of where he or she resides. The intending immigrant must provide evidence of such assets with this affidavit.

Doesn't specify in US or held jointly

How Can I Use Assets to Qualify?

You may use assets to supplement income if the consular or immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant and converted to cash within one year without undue harm to the sponsor or his or her family members.