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Question on financial standing

E

emma486

New Member
Hi everyone,

I am one of many people eagerly waiting to find out about the DV Green Card lottery on May 1st. This is my first year for entering and I am hoping I have the lady luck on my side and it's first time lucky.

My question is regarding finance. I understand it is very unlikely that you will be successful if the U.S. government believes that you will become a public charge. How much savings do they expect you to have? can anyone give me a rough estimate?

Many Thanks
Emma486
 
Emma,

The answer to this, and most questions starts with "It depends...."

It depends on how big your household is. Currently, you are required to prove that you have or will have (if you have a job offer already) an income of 125% of the 2013 US Household poverty line. If you are a family of two, this amount is just under $20,000 per year.

So you should expect to show that you have at least $40,000 in savings, or that your future job in the US will pay you approximately this much. If you do NOT already have a job lined up (and most DV entrants do not), then be ready to show bank statements with savings, or be ready to sell cars or homes and come up with the income. Let's say you have a home in your home country, and you decide to rent it out - then that rental income can show a steady income stream.

If you do NOT have savings, or a confirmed job, or a potential job, then you will need to look for a sponsor who will guarantee to support you (should you need it) for at least two years.

Best of luck. Not sure how many people actually win the first year they enter. But some do!

Sukie
 
Emma - if lady luck favoured me then I'm sure you can also get lucky. I entered the DV Lottery for the first time in October 2011 (for DV2013) and I got selected.



My case is somewhat strange (compared to other DV selectees) as follows:

- Self-employed (my parents/me own two industries - one of them is a registered US Federal Government supplier) and we get contracted by organisations affiliated with the US Government or US Health Sector NGOs (CDC, ICF Macro, EngenderHealth) to cater to supply work to their local partners.

- Have a portfolio of assets from land and buildings.

- Substantial personal savings - will have 6 months bank statements with me for the interview.

- No job offer in the US. I'm going in as an entrepreneur to create employment (which is what I wrote on the form I sent to KCC) in that I want my own business there once I settle down and naturally pay taxes when it is up and running.

- Have an I-134 sponsor in the form of my aunt and uncle who are both US citizens. I am taking an I-134 to my interview just for the sake of it.

- Will not be disposing of any assets as they are income generating and I will also be receiving money in the US from my business/parents to meet my expenses and declare my salary as foreign income for taxation purposes (double taxation if I'm not mistaken).

- Have been to the US almost 8 times and never overstayed beyond the 90 day limit (max I've stayed is 8 weeks).


As for the public charge issue based on the above, I personally highly doubt the US authorities would think I'd become a potential public charge and other DV winners have said to me my case is 100% guaranteed for a Green Card issuance but then again one never knows...


Case No - DV2013AF0007XXXX (applied the first time and got it the first time - lucky me lol)
Entry Checked - 1st May 2012
Forms Sent To KCC - 10th May 2012
Received By KCC - 12th May 2012
Confirmation From KCC - 25th May 2012 after I sent them an email
2nd NL - Not Yet
Police Clearance - Not Yet
Medicals - Not Yet
Interviews - Hopefully in mid-August or early September
Visa Pick up - Hopefully in mid-August or early September
Port of Entry - New York JFK
 
Sukie said:
Emma,

The answer to this, and most questions starts with "It depends...."

It depends on how big your household is. Currently, you are required to prove that you have or will have (if you have a job offer already) an income of 125% of the 2013 US Household poverty line. If you are a family of two, this amount is just under $20,000 per year.

So you should expect to show that you have at least $40,000 in savings, or that your future job in the US will pay you approximately this much. If you do NOT already have a job lined up (and most DV entrants do not), then be ready to show bank statements with savings, or be ready to sell cars or homes and come up with the income. Let's say you have a home in your home country, and you decide to rent it out - then that rental income can show a steady income stream.

If you do NOT have savings, or a confirmed job, or a potential job, then you will need to look for a sponsor who will guarantee to support you (should you need it) for at least two years.

Best of luck. Not sure how many people actually win the first year they enter. But some do!

Sukie
Click to expand...

Well, lot of people never had to show teir bank statement nor a job...
 
Sukie said:
Emma,

The answer to this, and most questions starts with "It depends...."

It depends on how big your household is. Currently, you are required to prove that you have or will have (if you have a job offer already) an income of 125% of the 2013 US Household poverty line. If you are a family of two, this amount is just under $20,000 per year.

So you should expect to show that you have at least $40,000 in savings, or that your future job in the US will pay you approximately this much. If you do NOT already have a job lined up (and most DV entrants do not), then be ready to show bank statements with savings, or be ready to sell cars or homes and come up with the income. Let's say you have a home in your home country, and you decide to rent it out - then that rental income can show a steady income stream.

If you do NOT have savings, or a confirmed job, or a potential job, then you will need to look for a sponsor who will guarantee to support you (should you need it) for at least two years.

Best of luck. Not sure how many people actually win the first year they enter. But some do!

Sukie
Click to expand...

Well, lot of people never had to show teir bank statement nor a job...
 
Emma486,
it depends on which embassy you are going for the interview, if you read through the various threads e.g Kenyan winners most of them were not asked to show proof of finance.

If you read through the winners going for interviews in London they are expected to show proof of finances.

i think it all depends on what the requirements are for the various embassies.
 
the one from montreal i think are not asked about the finances... I think they assume that since you live in canada you have some sort of financial stability
 
Momo1980 said:
As for the public charge issue based on the above, I personally highly doubt the US authorities would think I'd become a potential public charge and other DV winners have said to me my case is 100% guaranteed for a Green Card issuance but then again one never knows...
Click to expand...

I don't see anybody asking your case; you don't miss an opportunity to boast. Sadly nobody cares.
 
emma486 said:
Hi everyone,

I am one of many people eagerly waiting to find out about the DV Green Card lottery on May 1st. This is my first year for entering and I am hoping I have the lady luck on my side and it's first time lucky.

My question is regarding finance. I understand it is very unlikely that you will be successful if the U.S. government believes that you will become a public charge. How much savings do they expect you to have? can anyone give me a rough estimate?

Many Thanks
Emma486
Click to expand...

If you win, you'll choose a US embassy to process your case; go to the web site of that embassy and look for specific instructions. Also finding people online who got their cases processed in that embassy helps a lot. Some embassies are asking about 13-15K savings per person; if you have a spouse, it could be about 20K, but this is just an example, you really need to find about that particular embassy.
 
aos13 and momo1980 may I remind both of you that this is a forum to help and answer in a polite way without engaging in verbal fights or malicious behaviour?
Let me remind you all that moderators are around and they are waiting for calls to actions against those using unwanted and malicious behaviour. So both of you : BEHAVE!
@Emma486 it depends on the embassy more or less. There are places where financial statements are not asked. But they can also ask about clarification if they will see fit during the interview. They can just put you under AP and ask for any documents or evidences they need.
 
alindragos said:
aos13 and momo1980 may I remind both of you that this is a forum to help and answer in a polite way without engaging in verbal fights or malicious behaviour?
Let me remind you all that moderators are around and they are waiting for calls to actions against those using unwanted and malicious behaviour. So both of you : BEHAVE!
@Emma486 it depends on the embassy more or less. There are places where financial statements are not asked. But they can also ask about clarification if they will see fit during the interview. They can just put you under AP and ask for any documents or evidences they need.
Click to expand...

White flag here...I'm not out to fight with anyone. Everyone is entitled to their opinion.

aos13 - my apologies. No hard feelings :)
 
emma486 said:
Hi everyone,

I am one of many people eagerly waiting to find out about the DV Green Card lottery on May 1st. This is my first year for entering and I am hoping I have the lady luck on my side and it's first time lucky.

My question is regarding finance. I understand it is very unlikely that you will be successful if the U.S. government believes that you will become a public charge. How much savings do they expect you to have? can anyone give me a rough estimate?

Many Thanks
Emma486
Click to expand...

Emma - what Sukie says is correct. She's quoted directly from the guidelines.
 
alindragos said:
aos13 and momo1980 may I remind both of you that this is a forum to help and answer in a polite way without engaging in verbal fights or malicious behaviour?
Let me remind you all that moderators are around and they are waiting for calls to actions against those using unwanted and malicious behaviour. So both of you : BEHAVE!
Click to expand...

Well thank you, but I didn't attack anybody. I simply pointed out that boasting about oneself's case is hardly helping anybody. It just so happens that a big majority here don't have rich daddies milking NGOs in third world countries, so I don't see how a "strange case" was a useful example for emma486 who has asked the question. But you are right, it's none of my business.
 
Sukie said:
So you should expect to show that you have at least $40,000 in savings, ...
Click to expand...

Where is this $40K coming from? Poverty guidelines show 15K-19K for two people. Unless you have 6 people in your family, $40K is not required. Some embassies accept anything over 10K for a single person. So, asking people who were processed by the same embassy is the safest way to go.
 
It's embassy specific. From what I've heard it's between $10,000 to $20,000 per person. I agree with aos13 that you check with people who went through the same embassy.

First things first, I hope you get selected on May 1st...take it one step at a time.
 
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