Treaty nationality of the investor and of at least half the enterprise's ownership; funds irrevocably committed and at risk; an investment substantial in proportion to the cost of the business; a real, operating, non-marginal enterprise; and that the investor will develop and direct it personally.
Five conditions, each proved by a different kind of document
Nationality is proved by a passport and by the enterprise's ownership records, and it turns on citizenship, so a Canadian permanent resident who is a citizen of a non-treaty country does not qualify through residence. Commitment is proved by the purchase agreement and escrow instructions. Substantiality is proportional rather than a fixed dollar figure, and for the purchase of an established business the price paid is normally taken as the cost of acquisition. Marginality is answered by the operating business itself, through payroll, contracts and financial statements, supported by a forward plan. Control is proved by ownership percentage or by documented operational authority. E-2 also has a limit worth stating plainly at the outset: it is a nonimmigrant classification with no direct path to permanent residence, renewable indefinitely while the business qualifies but never converting on its own.
Hypothetical example: a bicycle-dynamometer repair shop is bought by a treaty national with a sixty-percent interest. The review should decide whether nationality, control, commitment, and non-marginality are shown together, using the passport, purchase terms, cap table, banking trail, and projections. Ask for the missing primary record before selecting a filing or travel step. The usual error is that a dormant entity or money reserved for a later choice is not enough. Put the conclusion in a dated fact sheet so later changes in duties, ownership, or qualification remain visible.