If you are sponsoring a Green Card or fiancé visa, there are income requirements you must meet for the affidavit of support. To determine if your income qualifies, refer to the federal poverty guideline chart.

If you do not meet the income requirements for the affidavit of support, you may be able to use assets to meet the income requirements.

Requirements for an Eligible Asset

• The asset must be able to be converted into cash within one year and in doing so, not cause financial hardship to the owner of the asset.
• The value of the assets is determined by the sale price as opposed to purchased price.

Examples of Assets that can be used for the Affidavit of Support:

• Vehicles (the owner must possess at least one other vehicle. The owner’s sole vehicle cannot be considered as an asset for the affidavit of support.)
• Real Estate
• Stocks
• Bonds
• Certificate of Deposit
• Pension
• Savings and Checking Accounts

Whose Assets are Eligible?

• The Sponsor
• Relative Household Member (spouse, adult son/daughter, parent or sibling)
  • Must live with sponsor and complete Form I-864A
• Assets of the Applicant
  • Must be able to show that the assets can be taken from their country to intending immigrant country
• The value of these assets can be combined to meet the requirement.

Determining the Required Value of Assets

Use this equation to determine if combining your assets with your income will meet the affidavit of support income requirements:

If a U.S. Citizen and sponsoring a spouse or minor child:

Value of assets = (affidavit of support minimum income requirement – actual income) multiplied by 3.

If sponsoring someone other than a spouse or minor child:

Value of assets = (affidavit of support minimum income requirement – actual income) multiplied by 5.

Example:

A USC sponsor with a household size of four is petitioning a Green Card for their spouse. Therefore, their minimum income according to federal poverty guidelines needs to be $29,812.The sponsor’s actual income is $15,037 annually.

So, $29,812-15,037= $14,775

$14,775 X 3= $44,325

The cash value of the assets must equal at least $44,325.

In order to get approved for a fiancé visa or a Green Card, the affidavit of support must be properly prepared, if not, you may be denied. Check out another blog about the affidavit of support.

For more information about using assets to satisfy the income requirement, contact an immigration specialist at 855-VISANOW.