No. Enterprise nationality and development and direction require their own assessment using the actual rights.
Read the whole ownership arrangement
Identify the relevant national owners and governing authority. Do not use one percentage as a substitute for all investor and enterprise requirements.
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. 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. The category looks for a real, active commercial enterprise rather than a passive holding, so ownership that produces rent without meaningful business operations generally falls short. Treaty nationality, substantial lawful at-risk investment, control and a real nonmarginal enterprise remain necessary; neither an escrow balance nor the business price establishes them all. No blanket prohibition applies to financing, and the character of the debt is what matters, so an obligation secured by the assets of the enterprise being acquired is treated differently from one supported by the investor's own assets or guarantee.