What is Minimum Income Required to Sponsor Family Members in Canada
If you wish to sponsor family members in Canada, you will be required to meet the minimum necessary income requirement. What this means is that you will have to convince the authorities that you are making enough money to support the family members whom you are financially accountable for. The minimum income requirement differs based on the number of members in your family that you are looking after.
Eligibility Criteria to Sponsor family members in Canada
Immigration, Refugees and Citizenship Canada, a government agency which holds a lot of credibility, uses Minimum Necessary Income (MNI) as a benchmark or criteria to determine the ability of a sponsor to offer financial support to their family members. Those who apply for family sponsorship are considered eligible for sponsoring their family members if they manage to meet the MNI requirements based on the size of their family.
To establish the family unit’s size, one takes into account the number of people who are being sponsored by a specific sponsor in Canada. A family unit’s size is calculated by including the applicant, their spouse, dependent children, partner’s or spouse’s dependent children, any individual whom you had sponsored in the past and parents or grandparents you plan to sponsor.
Minimum Income Required to Sponsor Parents to Canada
You will be eligible to sponsor your parents and grandparents in Canada only if you surpass the Minimum Necessary Income for three consecutive taxation years. The objectivity of this requirement is to ensure that individuals who get their parents or grandparents to the country are ready to shoulder their financial responsibility.
As stated earlier, the size of the family unit determines the MNI that a sponsor has to meet. The MNI figures keep fluctuating every year. Here, we shall take the MNI drawn out in the year 2020 for our reference. For 2 persons, the MNI stands at $32,270. For sponsoring 3 individuals, the MNI you need to meet is $39,672. For 4 persons, the MNI is $48,167. If you want to sponsor 5 family members, the minimum requirement you will have to meet is $54,630. For 6 individuals, its $61, 613. $68,595 is the Minimum Requirement Income for sponsoring 7 persons. For every additional person, the MNI increases by $6,985.