Financial capacity evaluation
   
 
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Financial capacity evaluation

You must demonstrate that you have had sufficient financial resources at your disposal over the past twelve months and that you will continue to have those resources available to you for the duration of the undertaking. The evaluation takes the following elements into account:

  • Your income and that of your spouse, if he or she signs the sponsorship agreement with you
  • The income required to meet the basic needs of your family unit
  • The income required to meet the basic needs of the person you wish to sponsor and, if applicable, his or her family members, whether they accompany the sponsored person or not
  • If you have already sponsored someone and your undertaking is still valid, the basic needs of the persons covered by the previous undertaking

The total gross annual income required for the sponsor represents the SUM of the income established in Table 1 and the income established in Table 2. These incomes are indexed each year.


Note: Amounts are in effect from January 1 to December 31, 2021.

Table 1

Basic income required of the sponsor to meet
his or her own family unit’s basic needs
Total number of members
in your family unit
Basic annual income required
1
$24,602
2
$33,209
3
$41,001
4
$47,156
5
$52,482
The gross annual income is increased by $5,326 for each additional dependent.

Table 2

Additional income required of the sponsor
to meet the basic needs of the sponsored person
and his or her family members
Number of persons
18 years of age or over
Number of persons
under 18 years of age
Additional gross annual income
required of the sponsor
 0
1
$8,515
0
2
$13,496
The gross annual income required is increased by $4,500 for each additional person under 18 years of age.
 
 
 
Number of persons
18 years of age or over
Number of persons
under 18 years of age
Additional gross annual income
required of the sponsor
1
$17,994
1
1
$24,177
1
2
$27,300
The gross annual income required is increased by $3,121 for each additional person under 18 years of age.
 
 
 
Number of persons
18 years of age or over
Number of persons
under 18 years of age
Additional gross annual income
required of the sponsor
2
$26,388
2
1
$29,560
2
2
$31,912
The gross annual income required is increased by $2,342 for each additional person under 18 years of age and by $8,389 for each additional person 18 years of age or over.

 

To determine whether you have sufficient financial resources to sponsor a person, calculate the required income using our electronic calculator.

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Last modification : 2020-12-30
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