Broadly, there are two options for you to bring your parent or grandparent to Canada:

In order to bring your parent or grandparent (PGP) to Canada, you need to be able to financially support them in Canada. For this, you will have to show that you earn the minimum stipulated income as per the program under which you plan to bring your parent or grandparent to Canada.

Super Visa:

This is a visitor visa that allows your Parent or Grandparent to stay in Canada for extended periods, namely 2 years at a time for up to 10 years. Super visas are multiple entry visas. This program requires you to purchase medical insurance coverage of $100,0000 for your Parent or Grandparent valid for at least one year from their date of entry into Canada. You will also need to sign a financial agreement with your Parent or Grandparent guaranteeing financial support during their period of stay. You must also earn more than the low-income cutoff (LICO) for the previous 12 months before you apply.

Parents and Grandparents (PGP) Sponsorship:

To sponsor your parent or grandparent under the PGP sponsorship program you must show low-income cutoff (LICO) + 30% income over 3 tax years before you apply to come to Canada. The program is on a first come first serve basis. Applications open on a particular day of the year and close as soon as the quota for the year is hit. You are required to provide financial undertaking for a 20 year period for both your Parent or Grandparent and any of their dependants.