You’re asking an important question, and you’re not alone — one of the key parts of applying for a green card is completing Form I-864, also known as the Affidavit of Support. This form proves that you, as the sponsor, have enough income or assets to support your spouse (the green card applicant) financially and prevent them from becoming dependent on government assistance.
First, You Need Enough Income
Before thinking about using assets, make sure you have enough income from your job to meet the required financial sponsorship amount. In most cases, if you are a U.S. citizen or green card holder sponsoring your spouse for a marriage-based green card, you need to show that your household income is at least 125% of the Federal Poverty Guidelines for your family size.
If your income meets or exceeds that minimum amount, then you don’t need to worry about using any assets. But if your income falls short of this requirement, that’s when you can start considering assets.
When Can You Use Assets to Meet the Financial Requirements?
If you don’t meet the income requirement through your job alone, you may be able to use your assets to make up the difference. But here’s the important part: only U.S.-based assets can be counted by the sponsor (the U.S. citizen or green card holder). This includes savings accounts, investments like stocks, and property such as your home or a car.
However, when it comes to using foreign assets (assets located outside the U.S.), there are some specific rules you need to follow:
Using Foreign Assets for Financial Support: What You Need to Know
If you are considering using foreign assets (such as money in a bank account or property in another country), here are the conditions you must meet:
The assets must be “liquid.”
This means the assets must be easily converted into cash within one year. For example, stocks or bonds are considered liquid because they can be sold and turned into cash quickly. Real estate or other non-liquid assets, on the other hand, may not qualify.
You must meet a certain asset value.
The total value of the foreign assets should equal at least five times the difference between your income and the required poverty guideline amount. For example, if the income shortfall is $5,000, the total value of your assets (including foreign assets) must be at least $25,000 to make up for the gap.
The assets must be transferable.
The money or property must be able to be moved from the country where they are located to the United States. However, each country has its laws and limits on how much money can be transferred out. You can only use as much of the asset as can legally be moved to the U.S. according to the laws of the applicant’s home country.
Can You Use Foreign Assets on Form I-864?
Yes, green card applicants can use foreign assets as part of their financial support, regardless of whether they live in the U.S. or abroad. So, if your spouse is applying for a green card from outside the U.S., they can include their foreign assets to meet the required financial sponsorship level.
However, remember that the sponsor (the U.S. citizen or green card holder) can only include assets based in the U.S., while the green card applicant can include their foreign assets, as long as they meet the conditions mentioned above.
To sum it up, you can use foreign assets to help meet the green card income requirements, but there are strict rules and conditions to follow. The assets must be liquid, transferable to the U.S., and worth at least five times the income shortfall. Additionally, only the green card applicant’s foreign assets can be considered, not the sponsor’s. If you don’t have enough income, using assets — whether from the U.S. or abroad — is a possible solution, but you’ll need to make sure you meet the requirements and provide the right documentation.
If you’re unsure about how to proceed or need help navigating the process, consulting with an immigration expert or attorney can ensure that your green card application goes smoothly and meets all the necessary criteria.
