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How long have you lived together for? Are you planning to get married?
You are entitled to sponsor her for permanent residency status because you have lived together for more than one year. As soon as you begin the application process she will no longer be required to leave Canada. The reason why is that there is an exception for spousal sponsorship and when there is a spousal sponsorship the visitor to Canada may remain in Canada without legal status. So, even though it will take some time for the full application to be processed, she will be permitted to remain in Canada and, in fact, she will be able to apply for an open work permit.
She will not be deported.
If she leaves she may not be able to return as she cannot enter with the intention to remain in Canada.
When she leaves she will not be permitted to re-enter until she gets her permanent residency status.
It can take close to two years unfortunately.
The $550 is part of the application fee and will have to be paid upfront.