Immigration Site

Hi all

need your advice on something
Im a US citizen and would want to apply for my spouses Green Card.
Im quitting my job in order to live with him in his country while waiting on his K-3 visa to get approved and we can come to the US together. is this going to be a problem since i dont have a job while Im applying for my spouse ?
I can provide them with my saving bank account statement but i wonder this is enough, I have a good tax return because of the job that i had if it helps at all.

Best,
R

If youre not employed in the US, youll need a joint sponsor to pledge the financial support that is required of the I-864, unless you have passive income (e.g. royalties, dividends, annuity) that is not tied to your US employment, or you and your spouse combined have enough assets that you can equal or exceed 5 times 125% of the poverty line, as listed on the I-864P for your household size.

That would be 5 x $18212 = $91060 if your household size is two (you + your spouse) ... more if you have children or other dependents, or if youre in Hawaii or Alaska.

Does the following list apply for showing that we got 91K?

1- 401 k
2- Stock
3- Saving - that I know it counts
4- Property in Iran - not sure if property in Iran counts since there is no relationship between the two countries


Best,

R

401(k) is problematic if youre under 59 and a half years old. There is a condition of the I-864 that the assets should be convertible to cash within a year, and the assets should not cause considerable loss when converted to cash. Withdrawing $91K from the 401(k) in a year, before age 59.5 years will cost over 30% in taxes and penalties. Even if they accept the 401(k), they will only accept a reduced amount to account for that loss.

Savings accounts, and stock outside of a retirement account definitely can be used.

Im not aware of any specific ban against using property in Iran for this purpose. As long as Iran isnt known to put excessive delays in the way of selling the property, or make it too difficult to convert the money to US dollars and move the money out of Iran, you should be able to use it for the I-864. Youll need a recent appraisal of its value, along with evidence of how much is owed (or evidence that it is owned completely with no loan). Only the net amount after subtracting the loan can be used for the I-864.

Note that the I-864 is only required near the end of the process. So if you have sold the property in the 6-12 months before the I-864 is required, you can simply list the resulting cash from the sale.

I would advise you to go directly for the immigrant visa route instead of the K-3 visa (unless youve already applied for the K-3). The problem with the K-3 is that it takes almost the same time to get approved as the immigrant visa, and then after entry into the US with the K-3, your spouse still has to file I-485 and wait for months and do another interview to get the green card. Whereas with an immigrant visa, permanent resident status is granted immediately upon entry to the US, and the green card is automatically delivered a few weeks later, without another interview.