Ownership records establish who holds the enterprise interests; governing and management agreements explain authority. Both need accurate review.
Avoid using one percentage for every test
At least 50% relevant treaty-country national ownership matters, but the applicant’s development and direction remains a separate question. Explain the actual rights rather than assuming one figure settles all conditions.
The signed purchase agreement, evidence that the funds have been transferred or placed in escrow with defined release terms, the lease or property deed, and the entity's organizational documents showing the buyer's ownership. An unbroken documentary path from the lawful origin of the money to the enterprise: statements for each account the funds passed through, evidence of how the money was earned or realized, and the closing documents showing it reached the seller. Incorporation documents and the share register, the shareholders' agreement, yard or premises documents, equipment and material invoices, licences, bonding and insurance certificates, employment records and every contract or bid. Ask for at least three years of financial statements and tax filings, current payroll showing how many employees the business supports, equipment lists with ownership or lease documents, the premises lease and its assignability, and any licences the operation needs. For each investment item, retain bank records, purchase agreements, invoices, escrow terms, and proof that the applicant bears the risk of loss; exclude unsupported future receipts from the capital total.