Thanks for the response.
I have a few more queries.
1. Both parents are PR holders and live with the kid in Canada. Is it necessary to co-sign if one parent meets the financial requirement? In the IMM5482 guide, under the section 'Co-signer', it's mentioned that "If you are sponsoring a dependent child who does not have children of his or her own, you do not need a co-signer. ".
2. If not co-signed, is it necessary to fill 5604? However, this form is for non-accompanying parents which doesn't apply in this case.
How would I go about this process?