Proving Financial Ability for Sponsorship
Proving Financial Ability for Family Sponsorship
It is necessary to prove your financial ability to support the family members you plan to sponsor. This financial responsibility covers both your immediate family members living with you and those you intend to sponsor. Immigration, Refugees, and Citizenship Canada (IRCC) uses the term Minimum Necessary Income (MNI) to assess the sponsor’s financial capacity.
Understanding Minimum Necessary Income (MNI)
Minimum Necessary Income is the income threshold set by IRCC, which allows a Canadian citizen or permanent resident to sponsor family members, such as a spouse, common-law partner, dependent children, parents, and grandparents. The MNI requirement also considers the size of the sponsor’s family. A family size unit includes family members residing in Canada, as well as those being sponsored, including:
- Dependent children, spouses, and common-law partners of parents and grandparents (even if they do not come to Canada).
Proving Income to Meet MNI Requirements
The proof of income to meet MNI requirements can be demonstrated through the Notice of Assessment (NOA) for the previous three years from the Canada Revenue Agency (CRA). Due to the COVID-19 pandemic, the income requirement for 2020 is lower, as per a recent announcement from IRCC.
To sponsor parents and grandparents, the sponsor must exceed the MNI for the three previous years. These eligibility requirements ensure that elderly members or dependent children will receive adequate care and support during their stay in Canada.
Low Income Cut-Off (LICO) and MNI Calculation
The MNI is derived from the Low Income Cut-Off (LICO) figures, and to determine the MNI, you must add 30% to the LICO figures. The following charts outline the LICO (Table 1) and MNI (Table 2) for sponsors. The calculation takes into account the number of family members in a particular year, especially if there are any changes to the family size.
Some applicants may struggle to meet the MNI requirements due to lower income levels. In such cases, expert immigration consultants can assist by advising you to include your spouse’s or common-law partner’s income to meet the necessary MNI.
Combining Income with a Spouse or Common-Law Partner
If you plan to combine your spouse’s or common-law partner’s income to meet the MNI, it’s essential to submit proof of common-law status. The co-signer will also be responsible for the financial support of the sponsored family members and must meet all other eligibility requirements.
Importance of Financial Responsibility
Canada places significant importance on the financial obligations of sponsors. Meeting the financial requirements is crucial when sponsoring family members. Hiring an experienced immigration consultancy service can help facilitate the family sponsorship process.
Cascade Immigration – Expert Consultation for Family Sponsorship
Cascade Immigration offers expert consultation to help you sponsor your family members. We provide tailored immigration solutions and guidance on various immigration options. Visit us today to learn how to expedite the sponsorship process.
