Hi guys,
I am planning on sponsoring my parents next year and also co-signing my spouse's parents the same year. I have a few questions about the process and Interest to Sponsor form. Look for guidance on them.
1.) I understand that I need to meet MNI numbers for 3 consecutive years. Is this gross before tax? And what is the significance of LICO then?
2.) We would be filling 2 interest to sponsor forms - one for my parents and one for my spouse's parents. However, in the form there are 2 questions:
a) How many family members in your family unit? I believe the answer to this is 2 for both forms. Right?
b) How many people do you want to sponsor? I am not sure what to write here. My wife would not co sign my parents application since my income can support them. So in her form shoild she only write 2 (her parents)?. And I would be co-signing her parents, so should I write 2 or 4?.
Thanks!
HI
Check following, according to current rules:
1.) I understand that I need to meet MNI numbers for 3 consecutive years. Is this gross before tax? And what is the significance of LICO then?
Your income has to meet 3 previous years as well as for the time your application is in process. LICO is something that government set every year as a lowest income requirement for a person to live in Canada. LICO increases each year according to inflation. LICO + 30% = MNI this is how you get MNI.
2.) We would be filling 2 interest to sponsor forms - one for my parents and one for my spouse's parents. However, in the form there are 2 questions:
a) How many family members in your family unit? I believe the answer to this is 2 for both forms. Right?
Yes, 2 if you do not have kids. Otherwise count kids too.
b) How many people do you want to sponsor? I am not sure what to write here. My wife would not co sign my parents application since my income can support them. So in her form shoild she only write 2 (her parents)?. And I would be co-signing her parents, so should I write 2 or 4?.
For your wife it will be 2 and for you it will be 4 (add kids too if you have in both of your cases).