2016 CR-1 Spouse Visa Financial Eligibility Requirements CR1 FAQ #7

http://www.visacoach.com/cr1-spouse-visa-financial-eligibility.html The US sponsor applying for permission for his spouse to be approved for permanent residency and to enter the USA traveling on a CR-1 or IR-1 Visa must demonstrate his annual income 125% or more above the poverty income level in the state where he lives. He proves eligibility by presenting verifiable proofs of income or cash assets.
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In order to successfully petition for your spouse to immigrate to the USA, you, the US sponsor must demonstrate you have enough income coming in, to support your spouse, and household.

The financial requirement is that your income equal must be over 125% of the poverty income level
where you live.

Each year the Department of Health and Human Services publishes their Poverty Guidelines.

The new Poverty Guidelines have risen about 0 from last year.

As of March 2016, for residents in the continental US the Financial Eligibility requirements
for Permanent resdency are as follows.

Required Annual Income
,025 if 2 Persons in Family or Household
,200, if 3 Persons in Family or Household
,375, if 4 Persons in Family or Household

For each Additional person add ,200

The Financial eligibilty thresholds are lower for
active military, and higher for residents of Alaska or Hawaii.

Proving your Income.

Normally you provide your most recent Federal Tax Return,
3 to 6 pay stubs showing ‘Year to date’ earnings,
plus a letter from your employer confirming your
job, and what your expected annual pay is.

If your income might be low, but you have
‘money in the bank’ your cash assets, can be used as
a alternative for annual income.

‘Cash’ assets are assets which can be easily converted (sold)
to cash. For example: stocks, bonds, certificates of
deposit, cash in the bank

You may have a lot of ther assets such as your car, boat, coin
collection, business or investment property but because these
can NOT be easily turned to cash immigration will not accept
them as alternatives to annual income.

The one exception to an asset that is hard to convert, but
CAN be counted is your home. If the market value of
your home is higher than your mortgage you may use
the equity just like a cash asset.

cash assets is the equivalent of annual income

For example, if your household is just you and your new
spouse, you need to have ,025 annual income, but
you have no income, BUT do have cash assets,
you would need to have

,025 times 5 or 0,125 of cash assets to qualify.

Alternatively a combination of income and assets could work.
For example, your income is ,000 per year.

The calculation for how much cash assets you would need would
be

,025 annual income requirement, less the ,000 income you have
leaving a shortfall of ,025.

Then ,025 times 5 or ,135 are the amount of cash assets
you need to qualify.

What if you don’t have enough income OR assets?

In that case you can ask a relative or friend to act as a joint-sponsor.

Just like buying a car, your joint-sponsor could ‘co-sign’ your loan.

When you use a joint-sponsor the total size of the household increases.
Now we combine all the people in your household plus those in
your joint-sponsor’s.

For example, you ask your father to joint-sponsor.
Your household is just 2 persons, you and your new spouse. Your fathers household is your father, mother, and the two children still living at home.

Thus the combined household would be 6 persons, and the combined income
of both sponsor and joint-sponsor would need to be ,725 or more to qualify.