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Applying for Green Card - When to move savings
Australian Engineer
Posted: Friday, September 15, 2017 7:23 PM
Joined: 01/10/2009
Posts: 6


Good morning 

I am looking at applying for a Green card shortly as I have been married 3 years to a US citizen and am now finding it hard to say Australia is my home for tax purposes. I already have a US bank account but that is my only tie to the US.  My question is are there any benefits to transfering savings before after or during the green card application process ?

Thanks for any advice 


conorcraig
Posted: Tuesday, September 19, 2017 9:20 PM
Joined: 13/08/2013
Posts: 5


I have gone thru same process. Better to leave transfers till after issue of Card. You will need to declare it all anyway so no point it becoming involved with IRS in USA until process completed.

When transferring your money from Aus to US look at going thru Hong Kong. Better rates and lower commissions. Aus to HK in Australian dollars. Change $Aus to China currency then change from China currency  to USD in HK and send from HK to USA in $US. We saved over $10,000 on a transfer of $300,000

 

Good luck, Green Card process long and tortuous!! Best to get an immigration lawyer and its well worth the cost.