Ministerial Instructions 16 (MI16): Immigrant Investor Venture Capital Class
Issued on January 23, 2015, IRCC’s sixteenth set of Ministerial Instructions (MI16) introduced the Immigrant Investor Venture Capital Class.
These Instructions are intended to support a broader strategy for business immigration reform by stimulating innovation and growth in the Canadian economy through the provision of at-risk capital from investors that can be actively invested in Canadian start-ups with high growth potential. They are also intended to attract immigrant investors who will be well prepared to integrate into the Canadian business landscape and society.
This new program was created under section 14.1 of the Immigration and Refugee Protection Act, which allows the Minister to issue instructions to create economic immigration programs that are limited to a duration of five years.