Trace the owners to their nationality
Identify the relevant treaty country and document the enterprise’s ownership through any intermediate entities. The enterprise generally needs at least 50% ownership by nationals of the relevant treaty country. Canadian residence is not evidence of Canadian citizenship, and a partner’s nationality should not be assumed from an address. Trace nationality through every ownership layer and read the governing documents, not only a cap table. Voting rights, removal rights and management authority can change whether the applicant has the required control.
Read the control provisions
Examine voting rights, management authority, vetoes and the applicant’s actual responsibilities. Developing and directing the enterprise requires a supported basis of control; the number printed beside a name on a spreadsheet is only part of the analysis. Explain how disagreements will be resolved. Follow the money from lawful source to the actual commercial commitment. Bank records, sale agreements, escrow terms, invoices and closing statements should show both where funds came from and when they became subject to the enterprise’s fortunes.
Separate contributions from promises
Trace lawful source and path and identify money or other qualifying assets irrevocably committed and at risk. Canada is an E-2 treaty country, but residence is not nationality. A future contribution schedule and cash already committed are different facts. There is no universal E-2 minimum, and E-2 provides no direct path to permanent residence. Test proportionality against the particular business. Cost schedules, asset values, opening expenses and working capital explain why an amount is substantial in this context. A round number without a business model does not answer the question.
Test a realistic operating plan
Explain the services, customers, expenses, staffing and credible financial projections. Assess nonmarginality under its actual standard. Avoid importing EB-5’s ten-job requirement or presenting a personal living budget as proof that the business satisfies the rule. Use conservative operating assumptions when addressing nonmarginality. Revenue forecasts should connect to contracts, capacity, pricing and staffing. The decision is whether to proceed with a business whose records support the claimed future, not merely an appealing concept.
Sources reviewed 2026-09-07. This guide covers a preparation focus; it is not an individual eligibility assessment.
