Financial Requirements
Financial Requirements for Sponsorship
Understanding Minimum Necessary Income (MNI)
Minimum Necessary Income (MNI) serves as a pivotal income threshold employed by IRCC to determine the eligibility of Canadian citizens or permanent residents to sponsor family members, including spouses, common-law partners, dependent children, parents, and grandparents. The MNI requirement is also influenced by the family size of the applicants for family sponsorship.
A family unit comprises members of the family residing in Canada, including the sponsors themselves. This family unit includes:
- The sponsor (yourself)
- Spouse or common-law partner
- Dependent children of the spouse or common-law partner
- Previously sponsored individuals for whom you are currently responsible
- Intended family members (parents and grandparents) you plan to sponsor
- Dependent children, spouses, and common-law partners of parents and grandparents (even if they are not coming to Canada)
Evidence for meeting the MNI requirements is typically provided through Notices of Assessment from the Canada Revenue Agency for the past three years. It’s important to note that the income requirement for 2020 has been adjusted due to the impact of the Coronavirus pandemic, as announced by IRCC.
Financial Requirements for Parent and Grandparent (PGP) Sponsorship
To sponsor parents and grandparents, one must demonstrate income surpassing the MNI for the preceding three years. These eligibility criteria ensure that elderly or dependent family members receive the necessary care and support during their stay in Canada. The charts below illustrate the various Low Income Cut-off (LICO) figures for sponsors (Table-1) and the corresponding Minimum Necessary Income (MNI) figures (Table-2). The MNI figure can be calculated by adding 30 percent of the Low Income Cut Off figures (LICO).
Table-1 Low Income Cut-off figures (LICO)
| Family unit size | Required basic annual income |
| 1 member | $25,921 |
| 2 members | $32,270 |
| 3 members | $39,762 |
| 4 members | $48,167 |
| 5 members | $54,630 |
| 6 members | $61,613 |
| 7 members | $68,598 |
| For additional person | $6985 |
Table-2 MNI Figures for Three Years
| Family Unit Size | MNI 2020 | MNI 2019 | MNI 2019 |
| 2 members | $32,270 | $41,007 | $40,379 |
| 3 members | $39,672 | $50,414 | $49,641 |
| 4 members | $48,167 | $61,209 | $60,271 |
| 5 members | $54,630 | $69,423 | $68,358 |
| 6 members | $61,613 | $78,296 | $77,095 |
| Every additional member | $6985 | $8,876 | $8740 |
Meeting MNI Requirements
The calculation of Minimum Necessary Income (MNI) takes into consideration the number of family members in a given year, accounting for additions or losses of family members. In cases where applicants face challenges in meeting MNI due to lower income levels, our expert immigration consultants at Nexus Migration can propose effective solutions. One such solution involves combining the income of a spouse or common-law partner to meet the required MNI figure.
When integrating your partner’s income for MNI calculation, it’s imperative to provide evidence confirming your common-law status. Additionally, the co-signer (partner) must meet all eligibility requirements and share financial responsibilities for the sponsored family members.
Canada places substantial importance on sponsors’ financial obligations, making it crucial to fulfill all financial responsibility requirements when pursuing family sponsorship. By engaging the services of our knowledgeable immigration consultancy at Nexus Migration, you can streamline the family sponsorship application process.
Nexus Migration is dedicated to providing expert consultations to facilitate family sponsorship. We offer tailored immigration solutions and guidance on a variety of immigration pathways. Contact us today to expedite the sponsorship process and ensure the successful reunification of your family.
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