Financial Requirements for Sponsorship

 You must prove that you have the money to sustain a family member once they arrive in Canada to sponsor them. This entails fulfilling income requirements established by Immigration Refugees and Citizenship Canada (IRCC). Depending on the size of your family and the number of people, you plan to sponsor the Minimum Necessary Income (MNI) is the main metric used to evaluate this.

Understanding Minimum Necessary Income (MNI)

To qualify for family sponsorship, sponsors must meet or surpass the MNI to benchmark income level. Based on the sponsors’ entire family size which is decided every year.

• The real sponsor.
• Members of their immediate family.
• The person or people being sponsored.
• Any other people for whom the sponsor still has financial responsibility after having previously sponsored them.

Importantly, sponsors who live outside of Quebec must fulfill the federal MNI requirements whereas sponsors who live in Quebec must adhere to the province’s particular financial standards.

Financial Requirements for Parent and Grandparent (PGP) Sponsorship

Stricter financial scrutiny is required when sponsoring parents and grandparents. Proof of income for each of the three tax years prior to the application date must be provided by sponsors. This guarantees that sponsors have continuously been able to provide for their parents or grandparents when they arrive in Canada.

Meeting MNI Requirements

Sponsors must fulfill the MNI requirements:

• Assess Family Size: The sponsored person or people yourself, your immediate family, and any other people you are financially responsible for should all be included in the assessment of your family size.
• Review Income Thresholds: To ascertain the precise income level that applies to your family size, consult the most recent MNI data supplied by the IRCC.
• Obtain Financial Documentation: To support your income claims gather the required financial documentation such as Notices of Assessment from the Canada Revenue Agency (CRA) for the pertinent tax years.
• Think About Including a Co-Signer: If your income is insufficient to meet the MNI, you can combine your income with that of a co-signer such as a spouse or common-law partner to meet the requirement.

The probability of your sponsorship application being accepted can be increased by carefully planning and making sure you have the necessary funds.

Steps to Apply for Family Sponsorship

Step 1: Verify that you are eligible to sponsor.

Step 2: Verify that the family members you plan to sponsor are eligible.

Step 3: Application must be submitted to the Ministry of Immigration Refugees and Citizenship Canada (IRCC) at the federal level and to the Ministry of Immigration Francization and Integration (MIFI) at the provincial level if you reside in Quebec. Together with your sponsorship application you must submit your family members or relatives’ applications for permanent residence (PR) status. The PR application will be assessed after it has been determined that you are qualified to sponsor.

Step 4: The application fee for family sponsorship must be paid.

Step 5: Apply to the actual and correct address. The government website offers a sponsorship guide for download which contains this information.

How CWC Can Help?

CWC has been unlocking immigration success since 2005. We always make sure all required paperwork, financial information, and other supporting documents are accurate and comprehensive. Contact us today for a FREE assessment to get started