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A surety should be an adult Canadian citizen or a permanent resident, and generally not have a criminal record. If you do have a minor criminal record or one that is fairly old and/or minor, you might still be allowed to be a surety.
If you are the alleged victim of the offence, you cannot be the accused’s surety.
A surety should be able to show to the court that they have enough assets to cover the amount of the bail. You are not required to deposit cash in most cases, but you must be “good” for the amount on the bail. The assets can include real estate in your name, bank accounts, and investments.
See also "What Sureties Need to Know".