Sixty percent ownership by a Canadian citizen satisfies the treaty-nationality rule and ordinarily shows the ability to develop and direct. The remaining tests, committed capital, substantiality, a real non-marginal business and lawful funds, are decided by the purchase documents and financial records, not by the percentage.
The percentage answers one question of five
Ownership of at least fifty percent by treaty nationals is required and the applicant's sixty percent meets it, provided the shares are held personally or through an entity that is itself Canadian-owned. Control ordinarily follows majority ownership, but the shareholder agreement must not give the retiring founder a veto over operations, budgets or hiring that would leave the applicant unable to direct the company. The investment must be substantial in proportion to the cost of this particular business; there is no fixed minimum, and a proportionality analysis compares the amount committed to the total price of establishing or buying the enterprise.
The business must be real and operating, and its projected income must exceed what the investor's family needs to live on, or it must make a significant economic contribution through jobs. Finally, the funds must be lawfully obtained and traceable. Each of those is its own document request.