3. Financial Requirements
How much money will I need for the sponsorship? How will my finances be assessed?
Each group member who makes a financial contribution, as well as the group as a whole, must show that they have sufficient financial resources available to support the sponsored refugee(s) for the duration of the sponsorship period (usually 12 months from time of arrival in Canada). Provincial social welfare rates and the Sponsorship Cost Table (see Appendix A of the Instructions Guide) are used by the Resettlement Operations Centre in Ottawa (ROC-O) to determine whether a group member is financially eligible to participate in the sponsorship and whether the total funds pledged by group members are sufficient for a particular sponsorship undertaking.
Use the Sponsorship Cost Table as a guide to determine your required individual and group level of financial support.
Please note that the actual cost of the sponsorship may be higher than the amount listed in the Sponsorship Cost Table. When calculating the overall budget, the Group of Five can deduct the value of any in-kind donations they receive, such as furniture or housing. Please see the in-kind deductions table in Appendix A of the Instructions Guide for the dollar amounts that can be deducted.
During the sponsorship period, the group is responsible for the basic needs of the sponsored refugee(s), including monthly income support. Given this, the sponsored persons will not require income support from the government through social assistance or welfare.
The Settlement Plan and Financial Assessment forms are used by the Resettlement Operations Centre in Ottawa (ROC-O) to assess whether your group is able to provide the necessary settlement assistance and financial support to help the sponsored person(s) establish successfully in Canada during the sponsorship term. Group members contributing financially to the sponsorship should provide the amount of money they are committing towards the sponsorship, and if applicable, all other sources of funds. Please refer to the Instructions Guide or contact us for further information on the documents you will need to submit for the financial assessment, and for guidance in calculating your individual financial eligibility