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Are Financials Needed or Not for Permanente?

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Are Financials Needed or Not for Permanente?

Post by MexicoJimbo on Sun Mar 03, 2013 10:42 am

I'm confused.

I have an FM3 with the number '4' on the back (as in 'four years').

I have been reading on this board (and the other board) that if you have an FM3 with a '4' on the back, financials are NOT necessary when applying for permanente status.

Yet my facilitator, whose services I have used for more than a decade, tells me that financials ARE necessary in order for me to get permanente status.

I have several months before I need to renew my immigrant status and I'm well aware that the rules and regulations will almost certainly change - or at least be clarified - before my renewal date.

However, I would really appreciate knowing for a fact whether financials are required for someone who has an FM3 with a '4' on the back and is applying for permanente status.

Thanks in advance for any responses to my question....


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Re: Are Financials Needed or Not for Permanente?

Post by Intercasa on Sun Mar 03, 2013 10:59 am

Current practice is that financials and are not required for permanent if you change within the 30 days before expiration and you have a 3 or 4 on the back of your card. If you renew early or late or do not have a 3 or 4 then financials are required and must be translated by a perito traductor (me).
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Re: Are Financials Needed or Not for Permanente?

Post by MexicoJimbo on Sun Mar 03, 2013 11:13 am

Thanks very much for your response, Spencer.

I now understand why the facilitator told me that financials would be required in my situation, since I would have been applying EARLY.

I'll wait until 30 days before my FM3's expiration date before applying for permanente status.


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Re: Are Financials Needed or Not for Permanente?

Post by CanuckBob on Thu Mar 14, 2013 2:49 pm

Having just applied for permanente visa after only 1 year of FM3 we were required to submit 12 months of financials. You must show an income of approximately $2500 per month or a continual balance of at least $128,000 USD per person every month.

Note: We were surprised to learn that owning property does not reduce the financial requirement for permanente at all so if you are thinking of buying a house and won't meet the permanente financial requirements if you do so, then get your permanente visa before spending all your money.
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Re: Are Financials Needed or Not for Permanente?

Post by Irish Gal on Thu Mar 14, 2013 3:17 pm

Intercasa wrote:Current practice is that financials and are not required for permanent if you change within the 30 days before expiration and you have a 3 or 4 on the back of your card. If you renew early or late or do not have a 3 or 4 then financials are required and must be translated by a perito traductor (me).

If we each have a "2" on the back of the former FM2s, would we have to be temporary for one more year, without financials, and then apply next year as permanent, also without financials?

Also what happens if one has sufficient monthly income and the other doesn't should we decide to go permanent this year at renewal time? Thanks.

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Re: Are Financials Needed or Not for Permanente?

Post by sparks on Thu Mar 14, 2013 3:31 pm

Many offices require financial statements for Permanente but at the old levels if completing your 4 years
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Re: Are Financials Needed or Not for Permanente?

Post by Parker on Thu Mar 14, 2013 3:58 pm

We have our FM3 but where is the location of whether it’s a 1, 2, 3, or 4? Thanks in advance. (This is our 5th year of renewal)

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Re: Are Financials Needed or Not for Permanente?

Post by sparks on Thu Mar 14, 2013 5:32 pm

It should say Prorroga # on the back. If not there it's probable that it's the first in a new series of your visa. I had Prorroga 1 which means one renewal or second year. Just got a 2 year visa

I think 5 year visas stopped with the book and switched to 4 years with the card
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Re: Are Financials Needed or Not for Permanente?

Post by Parker on Fri Mar 15, 2013 1:25 am

sparks wrote:It should say Prorroga # on the back. If not there it's probable that it's the first in a new series of your visa. I had Prorroga 1 which means one renewal or second year. Just got a 2 year visa

I think 5 year visas stopped with the book and switched to 4 years with the card

Thanks Spark, yes we now have cards, does that mean we can go permanent next year. We would have done so this year however our required date of renewal was by Nov. 9. Well what can I say.

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Re: Are Financials Needed or Not for Permanente?

Post by Irish Gal on Fri Mar 15, 2013 7:12 am

Irish Gal wrote:
Intercasa wrote:Current practice is that financials and are not required for permanent if you change within the 30 days before expiration and you have a 3 or 4 on the back of your card. If you renew early or late or do not have a 3 or 4 then financials are required and must be translated by a perito traductor (me).

If we each have a "2" on the back of the former FM2s, would we have to be temporary for one more year, without financials, and then apply next year as permanent, also without financials?

Also what happens if one has sufficient monthly income and the other doesn't should we decide to go permanent this year at renewal time? Thanks.

[b]Anyone have any comments for my question above?[b]

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Re: Are Financials Needed or Not for Permanente?

Post by CanuckBob on Fri Mar 15, 2013 7:15 am

Assuming you are related, You could always consider taking on the other one as a "dependent" which greatly reduces their financial requirement.
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Re: Are Financials Needed or Not for Permanente?

Post by Irish Gal on Fri Mar 15, 2013 7:31 am

Thanks, CB. I did, however, think that under the new rules each person must have the required income. I'll check with Spencer.

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Re: Are Financials Needed or Not for Permanente?

Post by CanuckBob on Fri Mar 15, 2013 7:33 am

Yeah, best to check with Spencer.
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Re: Are Financials Needed or Not for Permanente?

Post by sparks on Fri Mar 15, 2013 8:01 am

Parker wrote:
Thanks Spark, yes we now have cards, does that mean we can go permanent next year. We would have done so this year however our required date of renewal was by Nov. 9. Well what can I say.

If you have no renewals you have 3 more years on Temporal at the old income level. Some are jumping to permanent with the new income requirements
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Re: Are Financials Needed or Not for Permanente?

Post by The Postman on Sun Mar 17, 2013 12:37 pm

I was wondering if property NOB is considered an asset [ land, houses buildings,etc.] when applying for permanente visa?

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Re: Are Financials Needed or Not for Permanente?

Post by CanuckBob on Sun Mar 17, 2013 4:24 pm

No, unless you have it rented out for a monthly income that shows on your bank statement or have taken a second mortgage in cash and have it in your bank account.
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