Financial requirement for the anchor

As the anchor, you must prove you have enough income or savings to support all of the people you’ll be financially responsible for once you become an anchor.

If you do not meet the income requirements alone, you can add a co-anchor to your statutory declaration and combine your income or savings to meet the requirements.

The co-anchor must

• be your spouse or common-law partner
• meet the same eligibility requirements as the anchor
• agree to co-sign the statutory declaration
• agree to be responsible for the basic requirements of the applicant and their family members for a year after their arrival

You can meet the financial requirement by showing

• proof of income
• proof of funds or
• a combination of income and funds

Proof of income

You must show that you made enough money in the last year to support everyone you will be responsible for.

To count the total number of people you will be responsible for, include

• yourself
• your spouse or common-law partner
• your dependent children
  • their dependent children, if they have any
• your spouse or common-law partner’s dependent children
  • their dependent children, if they have any
• the applicant
• the applicant’s family members who will be coming with them
• all the people that you have sponsored or co-sponsored as part of another immigration application and are still responsible for
• all the people that you have already sponsored or co-sponsored as part of this immigration application and are still responsible for
• all the people that your spouse or common-law partner sponsored or co-sponsored as part of any immigration application and are still responsible for (only if they are going to be your co-anchor)

You must use the income you earned last year, as shown in your tax assessment.

If you don’t meet the income required in the table

You can make up the difference by showing you have savings in a Canadian bank account.

For example, if your family size will be 5 people, but you only made $50,000 last year, you can show that you have $7,988 saved in a Canadian bank account for a total of $57,988.

Proof of funds

You can also meet the financial requirement by showing us that you have enough funds. You must show that your savings is in a Canadian bank account that will be available to the applicant and their family members who will be coming with them. This account can be an informal in trust chequing or savings account. It does not need to be a formal trust account.

You must count the applicant and their family members who will be coming with them.

Check if you meet the financial requirement