Can a K1 beneficiary add his or her assets with the petitioners assets?
When it comes to meeting the income requirement for a K1 fiance visa, some people opt to utilize assets to supplement their lack of income. This question is relating to whether or not one can use the petitioning alien’s assets towards meeting this income requirement.
It depends on the type of asset. Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included. If you wish to include the net value of your home, then you must include documentation demonstrating that you own it, a recent appraisal by a licensed appraiser, and evidence of the amount of any and all loans secured by a mortgage, trust deed, or other lien on the home. However, if the alien’s home is not in the US, it isn’t as liquid to the US government and would probably not be useful.
Also, proof of foreign assets is more difficult.
Types of alien owned assets that may have a better chance of being used are the following:
- Stocks & Bonds
- Precious metals present in the US
Types of alien owned assets that would have a hard time being used:
- Foreign real estate
- Foreign livestock/agricultural assets
- Foreign businesses
- Other assets physically located in a country other than the US
For a spouse or minor child, assets count as one-third the value. For all other relatives it is one-fifth.
Please note that it is at the discretion of the consular officer, reviewing your case, as to whether or not they will accept assets in conjunction with or in lieu of income. It is also at the discretion of the consular officer as to what type of assets they will accept if they accept any at all.