Sponsor my spouse while quitting my job

R

RyanY

Registered Users (C)
Hi all

need your advice on something
I'm a US citizen and would want to apply for my spouse's Green Card.
I'm 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 don't have a job while I'm 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 you're not employed in the US, you'll 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 you're 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 you're 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.

I'm not aware of any specific ban against using property in Iran for this purpose. As long as Iran isn't 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. You'll 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 you've 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.
 
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In order to qualify based on the value of your assets, the total value of your assets must equal at least five times the difference between your total household income and the current poverty guidelines for your household size. However, if you are a U.S. citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least three times the difference.
 
Oh yes, for your situation I should have said three times, not 5. So that would be 3 x $18212 = $54636 for a household of 2 who is not in Alaska or Hawaii.
 
Cool. thanks guys!

thinking of applying before quitting my job to be safe but prepare necessary documents for my assets and all.
 
Applying before quitting your job won't help with the financial aspect. The time to produce the financial documents is at the end of the process, not the beginning. When the interview time approaches in 6-12 months from now, they'll want an up-to-date picture of your financial situation.
 
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