No automatic conclusion follows. Identify the actual ownership and operational control of the enterprise being assessed. Rights in a different company do not answer that question.
Keep the entity analysis precise
Explain the relevant treaty ownership and how the applicant will develop and direct the genuine operation. Do not rely on a portfolio title as a substitute for authority under the actual business arrangements.
Borrowed money is not excluded from E-2 investment analysis, so card-funded expenses may count when the investor is personally liable and the borrowing is not secured by the assets of the United States enterprise. The employee must have the nationality of the treaty country, which for a Canadian-owned American enterprise means Canadian citizenship, and permanent residence in Canada does not satisfy it whatever the person's length of residence. The capital must be irrevocably committed and at risk in the U.S. enterprise, so intercompany arrangements that leave funds recoverable, or that route money as a fee rather than a commitment, have not met it however substantial the group's overall resources. Veto rights held by a minority, a management contract handing daily operations to an outside firm, or a class of shares carrying no vote can all leave a majority holder unable to direct anything.