Financial Support Question

[ZedbraGuy 6]

My missus didn't earn that much last year so we're going to have to make up the shortfall with savings

Now I know when we applied for the visa my savings which were based abroad had to make up 5x the shortfall, which was fine.

However...

In october I intend to transfer some of the cash into a US based US Dollar savings account in my name, will this be counted x3 as it's in the US, or as 5x as it's not in my by then spouces name?

Also, the rest of the money I have will still be in the UK in a sterling savings account. Will this cause a problem for the I-864? Does the money have to be in dollars or is it still okay in currency based abroad?

Thanks

[Rich&Vero 14]

In october I intend to transfer some of the cash into a US based US Dollar savings account in my name, will this be counted x3 as it's in the US, or as 5x as it's not in my by then spouces name?

Also, the rest of the money I have will still be in the UK in a sterling savings account. Will this cause a problem for the I-864? Does the money have to be in dollars or is it still okay in currency based abroad?

It is in your name and is therefore still subject to the 5x rule.

Foreign currency is fine as it is easily converted.

[KayDeeCee 4,899]

My missus didn't earn that much last year so we're going to have to make up the shortfall with savings

Now I know when we applied for the visa my savings which were based abroad had to make up 5x the shortfall, which was fine.

However...

In october I intend to transfer some of the cash into a US based US Dollar savings account in my name, will this be counted x3 as it's in the US, or as 5x as it's not in my by then spouces name?

Also, the rest of the money I have will still be in the UK in a sterling savings account. Will this cause a problem for the I-864? Does the money have to be in dollars or is it still okay in currency based abroad?

Thanks

For the I-864, when your wife fills out the form, she can include your assets. It will already be in a US bank, and the savings account does not have to be in her name, as it in your name and you are her spouse. I believe the assets will need to be 3X.

[Nich-Nick 3,354]

My missus didn't earn that much last year so we're going to have to make up the shortfall with savings

Is she making enough now? Just wanted to point out that it's not about what's on the tax form if you can show proof that she is currently earning more.

Edited July 25, 2011 by Nich-Nick

[ZedbraGuy 6]

It's a bit tricky as she's self employed, she only had about 9k on her tax return last year so were a bit short. I think she's had a better year, but not sure what proof we have.

I've done some reading up today and it seems my savings are x5 no matter where they are

Seen a lot of people also talking having to have combined financial resources, I hope that's not required as our finances are pretty seperate, aside from me having sent her money a few times over the past year or so. But largely we just live off her income until I can work.... which will be after AOS

[KayDeeCee 4,899]

It's a bit tricky as she's self employed, she only had about 9k on her tax return last year so were a bit short. I think she's had a better year, but not sure what proof we have.

I've done some reading up today and it seems my savings are x5 no matter where they are

Seen a lot of people also talking having to have combined financial resources, I hope that's not required as our finances are pretty seperate, aside from me having sent her money a few times over the past year or so. But largely we just live off her income until I can work.... which will be after AOS

This is for AOS, correct? You are already (or will be) married, and the spouse only needs 3X. Assets of both the wife and husband can be used together.

"If you cannot meet the minimum income requirements using your earned income, you have various options:

* You may add the cash value of your assets. This includes money in savings accounts, stocks, bonds, and property. To determine the amount of assets required to qualify, subtract your household income from the minimum income requirement (125% of the poverty level for your family size). You must prove the cash value of your assets is worth five times this difference (the amount left over).

o Exceptions:

+ If the person being sponsored is a spouse, or son/daughter (who is 18 years or older) of a U.S. citizen: The minimum cash value of assets must be three times the difference between the sponsor’s household income and 125% of the federal poverty guide line for the household."

http://www.uscis.gov/portal/site/uscis/menuitem.eb1d4c2a3e5b9ac89243c6a7543f6d1a/?vgnextoid=720b0a5659083210VgnVCM100000082ca60aRCRD&vgnextchannel=720b0a5659083210VgnVCM100000082ca60aRCRD

If it was a joint sponsor, and not the spouse, then they would need to show 5X.

Edited July 26, 2011 by Jay-Kay

[Penguin_ie 5,999]

Agree with Jay_kay band others, it only needs to be x3 because you will be married by then, and it can be in an account in only your name because you are the spouse. They don;t usually like it being outside the country though, because it is more difficult for them to seize it, should such become necessary.

Co-mingling of financial resources is a big thing. It's certainly not an automatic denial if you don't have joint accounts, bills etc, but it will raise a red flag.

[ZedbraGuy 6]

The majority of my money is making good interetest so i dont want to move it to the US, but there's enough in there to make up the shortfall at x3, and it's in the UK so it's not as if its in some geneva bank. There's some other money, which I'll move over here in my name. We're going to see if we can add my name to her checking account when we go to the bank this week to discusss all our financial options.

Edited July 26, 2011 by ZedbraGuy