If you are sponsoring a family member for a green card, one important requirement is to submit Form I-864 and supporting documents to demonstrate that your relative will not become a public charge because you have sufficient funds to support them. The general requirement is that you must show an income of at least 125% of the Federal Poverty Guidelines for your household size to sponsor your relative. If you do not have enough income to meet this requirement, you may also use a joint sponsor, or you may use assets.
What types of assets am I allowed to use?
You are permitted to use any assets that can be easily converted into cash within one year without causing hardship or financial loss. You are allowed to include the net value of your home (meaning the appraised value minus any loans or liens), however you are not allowed to include the net value of your car unless you have more than one car. If you do choose to include the net value of your car, you must have at least one car that is not included as an asset.
How do I determine if the value of my assets is sufficient to meet the sponsor requirements?
The general rule is that you must show an income of at least 125% of the Federal Poverty Guidelines for your household size. If you are using assets to qualify for the immigration benefit, you must have assets that are at least five times the difference between your income and 125% of the Federal Poverty Guidelines for your household size. There are some exceptions to this rule. For example, for spouses of U.S. citizens or children of U.S. citizens aged 18 or older, the asset amount only needs to be three times the difference between your income and 125% of the Federal Poverty Guidelines for your household size.
Is it possible to use the assets of the relative that I’m sponsoring? What about using the assets of another family member?
It is possible to use the assets of the relative that you are sponsoring for the green card. It is also sometimes possible to use the assets of another relative. The relative must live with you and must be your spouse, adult son or daughter, parent or sibling. The relative may also be a person that does not live with you, as long as you have lawfully listed them as a dependent on your most recent federal tax return. If you are using the assets of a relative, they must be willing to fill out Form I-864A. However if you are using the assets of the relative you are sponsoring for a green card, they do not need to fill out Form I-864A.
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