No. The actual treaty enterprise ownership and the investor’s qualifying operational control both need assessment. A percentage change must be read with the real rights.
Identify which authority changed with the share
Determine who can develop and direct the enterprise under the revised agreement. Do not assume a management title cures missing authority or that every minority position is automatically excluded. The factual structure controls the analysis.
Identify the business being purchased or built and exactly what the proposed spending covers, flagging costs that sit outside a headline purchase price and distinguishing firm estimates from money already paid. Property the investor leases or that a supplier owns can support daily operations without its market value becoming qualifying capital, although lease or rent payments may be counted within the limits in the official guidance. The file must still show treaty nationality, at least 50 percent treaty-national ownership, development and direction, proportional substantiality with no fixed minimum, and non-marginality, ordinarily through more than minimal livelihood capacity or meaningful economic contribution within five years after normal business activity begins. Deposits already paid, equipment already bought and the lease already signed all count as committed; a balance sitting in a Canadian account does not.Set ownership out by nationality and percentage before incorporating or transferring shares.