I-864 Asset Question

[seekingthetruth 1,246]

I just sold our house here in the Philippines so I am going to move forward with completing the NVC paperwork for my wife and step-daughter.  My income is low right now so I am going to have to show assets.  A few questions, keeping in mind that I have not looked at the I-864 in a while.

 

1.  Can I show foreign currency bank statements, in this case the Philippines?  We are hoping exchange rates will move in our favor before we transfer the the money to the U.S.

 

2.  Will I need to show all assets, or just pertinent ones to fit the need?

 

Thanks!

[Chancy 6,241]

1 hour ago, seekingthetruth said:

1.  Can I show foreign currency bank statements, in this case the Philippines?  We are hoping exchange rates will move in our favor before we transfer the the money to the U.S.

 

2.  Will I need to show all assets, or just pertinent ones to fit the need?

 

1.  Depends on the CO, but it would be safest to show assets in a US-based bank account, not just PH bank statements.

2.  Not required to show all assets.  List enough assets to be comfortably above the minimum requirement.  As to how much is "comfortably above", depends again on the CO.  I would recommend at least 5x the I-864p amount for your household size.

 

[EDIT]  Just realized you're asking about NVC, not the consulate.  For NVC, PH bank statements are ok.  Just make sure to list the USD equivalent amount on your I-864.  And remember that, regardless of what NVC says, the CO has final say on whether your listed assets are sufficient for sponsorship.

 

Edited August 11, 2023 by Chancy
clarification re: NVC

[pushbrk 12,876]

Start, by becoming and A-Student of the I-864 instructions and the form itself.  The instructions tell you all about using assets.

 

[seekingthetruth 1,246]

2 hours ago, Chancy said:

 

1.  Depends on the CO, but it would be safest to show assets in a US-based bank account, not just PH bank statements.

2.  Not required to show all assets.  List enough assets to be comfortably above the minimum requirement.  As to how much is "comfortably above", depends again on the CO.  I would recommend at least 5x the I-864p amount for your household size.

 

[EDIT]  Just realized you're asking about NVC, not the consulate.  For NVC, PH bank statements are ok.  Just make sure to list the USD equivalent amount on your I-864.  And remember that, regardless of what NVC says, the CO has final say on whether your listed assets are sufficient for sponsorship.

 

Thanks!  I have a lot of U.S. non-cash and some cash assets to show but I would prefer to use just cash assets.  The cash I get for the house here in Subic Bay is actually a new asset.  Why?  I did not own the property.  It is a long term lease with the Freeport.  It probably had no value for the i-864.  Now I have sold / transferred the lease and the proceeds are a real cash asset.

[seekingthetruth 1,246]

1 hour ago, pushbrk said:

Start, by becoming and A-Student of the I-864 instructions and the form itself.  The instructions tell you all about using assets.

 

I have, 2 years ago.  After 2 years delay, we are hitting the trail again.

[pushbrk 12,876]

10 hours ago, seekingthetruth said:

I have, 2 years ago.  After 2 years delay, we are hitting the trail again.

You questions indicate you need a robust refresher study.

[seekingthetruth 1,246]

40 minutes ago, pushbrk said:

You questions indicate you need a robust refresher study.

 

And you might want to do a reading refresher.  I just sold my house and am excited to get going again.  Friendly folks here are usually happy to give some quick info that they have in their noggins.  I have seen you use the "A Student" copy / paste comment many times, and while that is good advice, it is not always an appropriate response.  I will do my refresher when time allows and certainly don't need to be prodded.

 

A few questions, keeping in mind that I have not looked at the I-864 in a while.

 

1.  Can I show foreign currency bank statements, in this case the Philippines?  We are hoping exchange rates will move in our favor before we transfer the the money to the U.S.

 

2.  Will I need to show all assets, or just pertinent ones to fit the need?

[pushbrk 12,876]

6 hours ago, seekingthetruth said:

 

And you might want to do a reading refresher.  I just sold my house and am excited to get going again.  Friendly folks here are usually happy to give some quick info that they have in their noggins.  I have seen you use the "A Student" copy / paste comment many times, and while that is good advice, it is not always an appropriate response.  I will do my refresher when time allows and certainly don't need to be prodded.

 

A few questions, keeping in mind that I have not looked at the I-864 in a while.

 

1.  Can I show foreign currency bank statements, in this case the Philippines?  We are hoping exchange rates will move in our favor before we transfer the the money to the U.S.

 

2.  Will I need to show all assets, or just pertinent ones to fit the need?

I actually type my answers.  My first reply came AFTER your direct questions were answered.  

 

I live in the Philippines, so understand about the exchange rate, but I also know your priority is a successful visa process.  

 

My hopes about the exchange rates necessarily and understandably run counter to yours, but that's hardly relevant. 🙂

 

 

[seekingthetruth 1,246]

4 hours ago, pushbrk said:

My hopes about the exchange rates necessarily and understandably run counter to yours, but that's hardly relevant. 🙂

Yeah, it was 42-43 when I moved here is 2012, and I had budgeted for that.  The increase up to a high of 59 was sweet.  We loaded up on pesos at 58-59.  Now at 56 I'm hoping it will go back to 42 the month before I leave.  

Edited August 12, 2023 by seekingthetruth