Not by itself. Assess the actual relevant ownership nationality.
Identify the owners rather than the registration address
Generally at least 50% ownership by nationals of the relevant treaty country matters. The applicant’s development and direction also needs assessment.
Ask for the capitalization table, the shareholder or operating agreement, bylaws, board and shareholder resolutions, the subscription or purchase agreement, recent financial statements, and the corporate registration filings. The new evidence is the business’s actual record: tax returns, payroll showing employees, financial statements, the current lease and the ownership register. Include the executed lease and amendments, supplier agreements and invoices, proof of payments leaving the investor's account, incorporation and share records, and the plan rewritten to match them. Match bank statements with earnings evidence, sale or loan records, gift documentation where relevant, transfer confirmations, invoices, lease documents, and ownership records. The equipment schedule, contracts, receivables and financial statements support the valuation, which is the denominator in the substantiality test, and demonstrate that the enterprise is real and operating rather than a shell. An account statement showing a balance does not, by itself, establish committed and at-risk capital.