18 of 20 44 54/01:00:00 Ljubo is a successful entrepreneur in his native country of Bulgaria. Over the years, he received many awards for his innovations. He has a new idea that has great revenue potential; however, he has not been able to secure Investment for his new project due to the economic situation in his country. Ljubo heard about Canada's new 'Start-up-visa" program and is very interested. Due to the lack of support for young entrepreneurs in his country. Ljubo recently decided to move out of Bulgaria Lubo called Sven, an immigration consultant, to inquire about this program. Sven told him that, if one of the designated investor Institutions in Canada likes his business idea, they will invest into his project and he will be able to immigrate to Canada as a business applicant. Ljubo advised Sven that although he is the essential person for this business, he has two partners. Igor and Sergey, whom he would like to include in his proposal. Igor and Sergey also wish to immigrate to Canada Sven helped Ljubo with a business plan, and secured a Certificate of commitment and a letter of support from a designated angel investor for a committed investment of $125,000. Sven prepared and submitted an application for permanent resident visa for all applicants. Today Sven got a phone call from Ljubo who informed him that he received a better offer from the European Investor group and would prefer to stay in Europe. Therefore, he is withdrawing his application. However, he advised Sven that Igor and Sergey would like to continue with theirs. What could Sven tell Ljubo? Igor and Sergey's applications will be rejected, because Ljubo was designated as an essential person in this business proposal Igor and Sorgey's applications will be retused due to the fact that the secured investment from the designated investment entity does not meet the minimum prescribed investment amount Ljubo will be allowed to withdraw his application only with approval from the investor, because he has already secured the investment commitment from a designated investment entity Igor and Sergey's applications will continue to be procesed, long as Lubo advised of his plan and agrees with their continued processing 11 12 Next 13 14 15 16 17 18 19 20