US VISA Process

MBA
1

Hi Guys I am admitted to Fall 2009 MBA program. Now I am working on my arranging financial documents required for VISA processing. I have few questions related to arranging financial documents 1. I want to show property owned by my par…

2

Hi Guys

I am admitted to Fall 2009 MBA program. Now I am working on my arranging financial documents required for VISA processing. I have few questions related to arranging financial documents

1. I want to show property owned by my parents - what documents do I need to have here ?

2. I want to show a property owned by me - what document do I need here ? It has some loan amount outstanding also.

Thanks
Sac

3

If you require financial docs for I-20, you need to show liquid funds. property wud not help.
If you are talking about interview then you need to carry the original docs(registry) of the property, alongwith the evaluation certificate which indicates the current value of the property. you may find evaluators in the local court of your city.
A more systematic way is to get Asset-Summary sheet prepared by the CA. it includes all movable and immovable assets owned by your family.

Hi Guys

I am admitted to Fall 2009 MBA program. Now I am working on my arranging financial documents required for VISA processing. I have few questions related to arranging financial documents

1. I want to show property owned by my parents - what documents do I need to have here ?

2. I want to show a property owned by me - what document do I need here ? It has some loan amount outstanding also.

Thanks
Sac
4

Thanks !

I have already applied for I20. I have another question here - If I show different money sources in I20 and for VISA, would it create any problem ?

Also if my parents are sponsering me ( they have immovable assets), I believe I need another document to show that they are sponsoering my education apart from originals ? where can I get the format of such document ?



Sac

5

An auditor can help you.By the way,which univ are u attending?

Thanks !

I have already applied for I20. I have another question here - If I show different money sources in I20 and for VISA, would it create any problem ?

Also if my parents are sponsering me ( they have immovable assets), I believe I need another document to show that they are sponsoering my education apart from originals ? where can I get the format of such document ?



Sac
6
Thanks !

I have already applied for I20. I have another question here - If I show different money sources in I20 and for VISA, would it create any problem ?

yes.. the sources shown in I20 and Visa should ideally be same.. on I-20 the exact amount that you documented earlier is mentioned..so same should be shown....

Also if my parents are sponsering me ( they have immovable assets), I believe I need another document to show that they are sponsoering my education apart from originals ? where can I get the format of such document ?

Sac

there is a sponsorship affidavit that you need to produce on Rs20 stamp paper. format: it should state that person X is sponsoring his/her son/daughter Y and take full responsibility of the expenses including tuition and living...
note: the sponsor should have liquid assets in order to fund... immovable assets are helpful in proving ties to your country.. because the VISA officer assumes you would not sell your property in order to study...
7
yes.. the sources shown in I20 and Visa should ideally be same.. on I-20 the exact amount that you documented earlier is mentioned..so same should be shown....

there is a sponsorship affidavit that you need to produce on Rs20 stamp paper. format: it should state that person X is sponsoring his/her son/daughter Y and take full responsibility of the expenses including tuition and living...
note: the sponsor should have liquid assets in order to fund... immovable assets are helpful in proving ties to your country.. because the VISA officer assumes you would not sell your property in order to study...


Thanks Captain

I have the liquid assets but I have collected from various friends recently. The only problem I see is - if they ask me to show the statment for more than a month then they would see number of sudden entries in the account.

Thats why I was trying to go for a different sources than the sources shown for I20

Sac
8

that wud be a major problem then...because you wud need to show statement for 6 months...
I-20 contains the amount you have sent to university...
you may try having alternate source with exact amount documented

Thanks Captain

I have the liquid assets but I have collected from various friends recently. The only problem I see is - if they ask me to show the statment for more than a month then they would see number of sudden entries in the account.

Thats why I was trying to go for a different sources than the sources shown for I20

Sac
9
that wud be a major problem then...because you wud need to show statement for 6 months...
I-20 contains the amount you have sent to university...
you may try having alternate source with exact amount documented


This will not be an issue as your source of funding could have changed from the time you showed the funds for the purpose of obtaining an I20 to the time of the visa interview. As long as you have enough liquid funds for the I20 amount, youre good...

Honestly, as long as ure going to a top school and ur academic performance has been good consistently, visa interviewers rarely ask for financial docs... Having said that, its completely upto the interviewer to check for ur documents.... You need to show liquid funds for the amount mentioned in your I20 and possible sources of funding for the subsequent years....

PROPERTY will not be considered as a source of funding. It shows your ties to the home country and is an indication that you will return to India, post MBA.

I suggest you can obtain a loan from a bank in India and take the sanction letter along for your interview. That amount certainly contributes to your funds and contrary to popular opinion, it WILL NOT adversely affect your chances of obtaining a visa...

hope this helps...

HK
10
yes.. the sources shown in I20 and Visa should ideally be same.. on I-20 the exact amount that you documented earlier is mentioned..so same should be shown....

there is a sponsorship affidavit that you need to produce on Rs20 stamp paper. format: it should state that person X is sponsoring his/her son/daughter Y and take full responsibility of the expenses including tuition and living...
note: the sponsor should have liquid assets in order to fund... immovable assets are helpful in proving ties to your country.. because the VISA officer assumes you would not sell your property in order to study...

Thanks Captain

I have the liquid assets but I have collected from various friends recently. The only problem I see is - if they ask me to show the statment for more than a month then they would see number of sudden entries in the account.

Thats why I was trying to go for a different sources than the sources shown for I20

Sac

that wud be a major problem then...because you wud need to show statement for 6 months...
I-20 contains the amount you have sent to university...
you may try having alternate source with exact amount documented


This will not be an issue as your source of funding could have changed from the time you showed the funds for the purpose of obtaining an I20 to the time of the visa interview. As long as you have enough liquid funds for the I20 amount, youre good...

Honestly, as long as ure going to a top school and ur academic performance has been good consistently, visa interviewers rarely ask for financial docs... Having said that, its completely upto the interviewer to check for ur documents.... You need to show liquid funds for the amount mentioned in your I20 and possible sources of funding for the subsequent years....

PROPERTY will not be considered as a source of funding. It shows your ties to the home country and is an indication that you will return to India, post MBA.

I suggest you can obtain a loan from a bank in India and take the sanction letter along for your interview. That amount certainly contributes to your funds and contrary to popular opinion, it WILL NOT adversely affect your chances of obtaining a visa...

hope this helps...

HK
11

Thanks HK

For second year I was planning to show the property which was more than 30 L, but if I take a loan on property that would not be more than 20 L (even it would be little less) as the banks would not issue more than this.

Is that ok to do that ?

Thanks
Sac

12

property cannot be shown as source of funds; loan can be...
so you must take loan on property and show the sanction letter..
loan of 18 lakhs is better than property of 30 lakhs...
unless you can convince that you are going to sell it for your studies

Thanks HK

For second year I was planning to show the property which was more than 30 L, but if I take a loan on property that would not be more than 20 L (even it would be little less) as the banks would not issue more than this.

Is that ok to do that ?

Thanks
Sac
13

Hi Ding_exp, I am more ignorant than you regarding US visa process 😃 Hope I can share this thread with you. I have a Fall 09 admit for MS in the US. I have an MBA already from India and work ex of 5yrs.. all in India so am pretty clueless about the process. I intend to take the I20 and other docs related to admission and the bank statement for 6 months. I would be showing only my sal account as source of funds. I have an offer for assistantship so my savings would suffice to take me through the two years. Anything else I need to take or would be asked to show?? Thanks in advance

14
Thanks HK

For second year I was planning to show the property which was more than 30 L, but if I take a loan on property that would not be more than 20 L (even it would be little less) as the banks would not issue more than this.

Is that ok to do that ?

Thanks
Sac


Should be OK... But be prepared to answer questions on "how do u plan to repay such a big loan with a job in India".... But as long as your first year funds are good, there shouldnt be a lot of questions on 2nd year funds....

HK
15
nimz2 Says
Hi Ding_exp, I am more ignorant than you regarding US visa process 😃 Hope I can share this thread with you. I have a Fall 09 admit for MS in the US. I have an MBA already from India and work ex of 5yrs.. all in India so am pretty clueless about the process. I intend to take the I20 and other docs related to admission and the bank statement for 6 months. I would be showing only my sal account as source of funds. I have an offer for assistantship so my savings would suffice to take me through the two years. Anything else I need to take or would be asked to show?? Thanks in advance


Do u have a full tuition waver???? If yes, my guess is, your interview s gonna be a breezer... :)

HK
16

As per the college rules.. a GA can involve a full or partial waiver. Am waiting to get the specifics. So in that case would the docs I mentioned be enough? I am hearing scary stories abt the US visa process..earlier I dindt give it much thought.. but now am getting the jitters

17
nimz2 Says
As per the college rules.. a GA can involve a full or partial waiver. Am waiting to get the specifics. So in that case would the docs I mentioned be enough? I am hearing scary stories abt the US visa process..earlier I dindt give it much thought.. but now am getting the jitters


You will need to show funds for whatever money you require during your MBA. So if you have a full tuition waver, it takes care of the bulk of ur expenses.... For the rest, you need to show funds...

Good luck....

HK
18

Thanks Lord Aragon. So for that I think the bank statements and the certification of finances should suffice!!

thanks again

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nimz2 Says
Hi Ding_exp, I am more ignorant than you regarding US visa process 😃 Hope I can share this thread with you. I have a Fall 09 admit for MS in the US. I have an MBA already from India and work ex of 5yrs.. all in India so am pretty clueless about the process. I intend to take the I20 and other docs related to admission and the bank statement for 6 months. I would be showing only my sal account as source of funds. I have an offer for assistantship so my savings would suffice to take me through the two years. Anything else I need to take or would be asked to show?? Thanks in advance


sorry for late reply nimz, In all you have to show the total expenses either as liquid and through support of loan.

Sac