Can We Use The Alien’s Assets to Meet the K1 Visa Income Requirement?

(uplifting music) – Next question comes from Jorge. Can a K1 beneficiary add his or her assets with the petitioners assets? Well, the short answer is yes they can. Unfortunately, there’s quite
a few hoops to jump through when using qualifying assets. And also, I want to just
add one caveat or one note, is that everything comes
down to the discretion of the consular officer or
the adjudicating officer that’s reviewing your case. What that means is that it’s up to them whether they accept the assets. Back to the part where
they do accept assets, it comes down to what type of assets you’re going to use. If it’s cash, gold or stocks,
bonds, things like that, something that you can
liquidate rather quickly, usually within a 12-month period, at least the instructions
in the affidavit of support state that you can use those assets. If you’re using property
such as a house, a condo or something like that, that’s
a little more challenging, a little more difficult
because first of all you have to prove that you have
ownership in said property. You also have to provide documents from the mortgage company, if you have a loan or
a lien on the property. You have to provide a copy of the deed. Also, if you owe a certain
amount on the property, you can only use the difference between what you, I guess the equity
that you have in the property. But I can tell you from experience, we’ve processed quite a few of these and many consular officers out there, many adjudicating officers at USCIS do not always accept these assets. And also, keep in mind you
have to have a third party, an assessment of the property. They have to appraise it. And you can’t just put down on paper what you think the property is worth. It actually has to be appraised. And then again, like I said, you have to provide all of the documents showing you own the property. It’s really best to probably just come out and meet the income requirements. And if you don’t, you may consider using what is called a joint sponsor. That is someone else that
signs an affidavit of support that meets the income requirements. The reason why I bring
that up is, like I said, we’ve seen folks try to use assets and it’s a bumpy road to go down at best. – Yeah, one thing I
would add is that assets aren’t valued as highly as income. They’re going to count
if it’s for a child, minor child or a spouse. They’re gonna value it at 1/3. So for example, if you
have a $75,000, say, equity in your home, they’re only gonna credit you with 25. So that’s equal to about
25,000 in income, 75,000. If it’s for a parent or
somebody else, a sibling, it’s even worse, it’s 1/5 of the values. So that same $75,000 asset
is only worth $15,000 towards the meeting threshold. So assets are tricky, as Rick says. It’s always best to get a joint
sponsor if that’s possible. Now we do have, we have
had people use assets. But the assets that seem to sail through are the ones that are very liquid and are very easily verified
through third party evidence such as your mortgage statement and a recent certified appraisal showing that you’ve got
100,000 equity in your home, or your TD Ameritrade statement showing that you’ve got
some investment accounts, those kind of things. And since your specific question was about the foreign
spouse, that’s even harder. It’s gonna depend on the
country and a lot of things. But yes, the spouse’s income can be used, or assets can be used if
it’s the intending spouse’s, is the intending immigrant, but they’re gonna count as 1/3
and they’ve got to be legit. Now one thing I’ll also throw in there that we actually saw
happen, it’s been four or five years ago now but we had a couple, it happened to be a
young couple from the UK and the parents were very much in favor of the union and so on. And so they transferred some money, it was 50,000 or something
to the account of the couple so they could say, look at this, assets we got in the bank. Well, the adjudicator didn’t buy it. They’re not dumb is the bottom line. You can’t have your mom or
somebody that trusts you, stick a bunch of money in your account while you get approved and then of course they’re gonna take it back later. They’re gonna see right through that, which is in fact what happened, that the money was on deposit for a year and so they refused to count it. The couple did end up getting approved and it all got worked out, but they were not able to
use that particular money because the adjudicator saw
right through that ruse. So don’t try to trick these guys. You’re not gonna come up with something they haven’t thought of. – If you found this video useful, it would mean a lot to us if
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3 thoughts on “Can We Use The Alien’s Assets to Meet the K1 Visa Income Requirement?

  1. I added Joint Sponsor and there was a question in I-864 about my asset , so we added those and provided deeds with valuation in . Converted into USD currency from my home country currency valuation

  2. Hi! My Fiancé is self-employed. What are the supporting documents that we have to present to the embassy?
    Is he being self-employed affects our chances of getting approved?
    Thank you!

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