How much do I need to make to pass the K1 Visa interview?
In order to successfully secure a K1 fiance visa, the Petitioner must meet the financial requirement. The Petitioner must have annual income that is 125% of the poverty guideline or higher. Currently, in 2016 this number for the household of two (you and your fiancee) amounts to $20,025 and it slightly rises from year to year. For the residents of Alaska and Hawaii this amount would be slightly higher, since the poverty guidelines there are higher. Military members have to demonstrate only 100% of the current poverty guideline.
The financial paperwork will be required at the embassy stage of the process and in most cases it will have to be presented directly to the officer by a foreign fiancee attending the interview. The Affidavit of Support will have to be prepared, containing the summary of financial information and affirmation of the petitioner about willingness to sponsor the prospective immigrant. Along with the Affidavit of Support, evidence of income for the past and for the current years will have to be presented. In terms of the past year, a copy of the filed tax return along with a W2 form will have to be provided. Adjusted Gross Income on a tax return should be no less than 125% of the poverty guideline. In case W2 form is not available, or individual is self employed, it is advisable to order a tax transcript directly from IRS. In terms of proving income for the current year, generally, such document as a letter from the employer or stabs showing retirement income suffice. Estimated income for the current year should be also above the same requirement of 125% of the poverty guideline. In case individual is self employed, it is good to present bank statements showing income from business.
Children or own dependents. In case your foreign fiancee brings a child or children under a K2 Visa, the financial requirement rises accordingly. You must add $5000 to the financial requirement for each additional prospective immigrant. Also, if you have your own dependents, then you would have to add $5000 to the requirement for each dependent you have.
Use of assets. In case you do not meet the financial requirement by a certain amount, then your assets may be used to compensate the difference between the requirement and your actual income. Generally, the U.S. Embassy wants to see at least a five-fold amount in liquid assets. For example, if you are $4000 short to meet the financial requirement, then $20,000 in liquid assets would have to be shown. With regards to consideration of the financial situation, the U.S. Embassy officers are entitled to use their own discretion and it is common that assets would not be accepted, if individual is unemployed, since the U.S. Embassy is looking to establish that the cosponsor has a continuing capacity to earn income over time.
Cosponsor. In the event the Petitioner does not meet the financial requirement or does not have sufficient assets, then a cosponsor has to be used. Any U.S. Citizen who meets the same financial requirement may be used as a cosponsor for the case. It could be your relative, friend, coworker or an acquaintance. The Affidavit of Support has to be prepared for a cosponsor as well, and the same set of supporting financial documents would have to be collected.
Money owed to IRS. If the Petitioner owes a considerable amount of money to IRS, then it is probable that the visa will not be issued until the debt is paid off or at least if the Petitioner does not engage in a payment plan to pay off the debt to IRS.
Permanent unemployment. In case of permanent unemployment of the Petitioner, it is very likely that even with Cosponsor’s paperwork the visa will not be approved. Typically, in such situations the embassy places the case on hold until the Petitioner returns back to employment and is able to demonstrate continuing capacity to earn income over time.
Non-taxable income. In some situations the income may be non-taxable and the Petitioner would not have a filed tax return to present at the interview. In this case, it would be necessary to present proof of income for that year such as direct deposits to the bank along with evidence establishing that income is non-taxable.
Hiring a law firm from the beginning can go a long way toward easing the stress of the K1 fiance visa process, and avoid any potential issues such as with financial documents. Please contact our office to get professional, thorough representation every step of the way on your journey to a new life together.