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Financials

Momo1980

Registered Users (C)
I've read many posts about being 125% above the official US poverty line and things such as the need to have a minimum of $14,000 in your bank account.

I presume and understand (and know of) that most DV selectees with say perhaps approximately $20,000 carry their cash on them when moving to America.

The question is what about DV selectees who have no issues with finances i.e. have over $150,000 in savings and fixed assets (land/real estate) at their disposal which they can liquidate for a substantial sum of money (over $2m) to make the move to the US?

Also what about the tax implications or rather are there any tax implications to take a large amount of savings or proceeds to the US?

I think it isn't too inconspicuous to waltz out of your home country with over $100,000 cash in your cabin luggage without raising eyebrows lol

Any ideas or feedback or knowledge on the matter my friends?
 
For those with such assents is surely no problem to open a US bank account prior to their permanent move or during their first weeks when in the US. You can keep your money in your current overseas account and bring a debit/credit/charge card with you. Then open a US bank account and gradually transfer your assents from the overseas account into the US. The banks will be very happy to get their hands on your money. From personal experience with HSBC, if you have over $150k in your combined accounts they will be happy to assist you with opening a US bank account, transferring all non-cash assets and savings and even advise on your taxes.
 
Oh goodness dont carry all that cash. You just need to show proof at the embassy that you have funds to survive while you get settled, before you find a job.
 
I have never heard about the 20K that u need to show it as a proof in the consulate.

3000 dollars is more than enough
 
In terms of support I'm covered because finances aren't an issue for me and I have an affidavit of support from the US being prepared by my aunt and uncle who are both citizens.

I also spoke to my banker and for those who have large sums of money to be transferred, he suggested it is better the monies are transferred in small chunks of say $10,000 to $15,000 instead of a whole whopper of over $100,000 being transferred because it would require documentation for background checks and to comply with anti-money laundering regulations.

I'm a happy camper rockin' and rollin' and documentation isn't a worry for me because 75% of my documents are ready.

I just hope I become current before the fiscal year is out this September because I'm relishing the potential challenge of doing business in the USA and buying a home as soon as I move there.


DV2013AF0007XXXX
Entry Checked: 01/05/2012
Forms sent to KCC: 10/05/2012
Confirmed by KCC via e-mail: 25/05/12
Confirmation 2 by KCC via e-mail: 31/12/2012 - confirming my documents were acceptable for processing on a query I had on I-134
Medicals: NOT YET - will schedule the medical as soon as I receive my 2nd NL
2nd NL: NOT YET - I hope to receive this sometime between June and August
Police : NOT YET - I will prepare certificates two months before the interview
Interview: NOT YET - hopefully between June and August
Port of Entry - New York JFK - hopefully in September or October 2013 via a nice flight on Emirates first class :)
 
it's definitely better to transfer smaller chunks. same story when you want to take the money form the bank. most of the banks in US are obligated to inform government about transactions over 10 000 $, especially when you want to take those money from your account. know it from my own experience.
 
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