No. Explain the actual authority and governing terms. The commercial label does not replace the E-2 principal’s directing role.
Read the powers actually provided
Distinguish ownership, voting and management provisions. Do not describe an anticipated amendment as already effective.
With equal partners, each can qualify if the agreement gives each partner a genuine role in directing the business; a fifty-percent owner who has negative control, meaning nothing can happen without their consent, can meet the test. A first review should create a transaction map showing nationality, ownership, lawful funding source, each contract condition, the money actually committed, and the operating plan. E-2 requires treaty-country nationality — Canadian permanent residence alone does not establish it — and the enterprise itself must carry qualifying treaty ownership, with the investor positioned to develop and direct it through at least 50 percent ownership or genuine operational control. Substantiality relates the size of the investment to the actual business being acquired or built, and nationality, commitment, direction and the enterprise's own requirements must all be satisfied separately. Ownership producing rent without meaningful business operations generally falls short, because the category looks for a real, active commercial enterprise rather than a passive holding.