Yes, provided that looking through the holding company shows Canadian nationals owning at least half of the U.S. enterprise, that he develops and directs it, and that his committed capital is substantial for a real, non-marginal business.
Look through the holding company to the people
The treaty-investor classification requires that the investor be a national of a treaty country, that the enterprise share that nationality by being at least 50 percent owned by such nationals, that the investment be substantial and irrevocably committed, that the enterprise be a real operating business that is not marginal, and that the investor develop and direct it. Canada is a treaty country. When a company owns the enterprise, nationality is determined by tracing ownership to natural persons, so a holding company wholly owned by the contractor transmits his Canadian nationality; a 30 percent U.S.
shareholder leaves 70 percent Canadian-owned, which is sufficient. Develop-and-direct is usually met by 50 percent ownership or operational control, and here both are present if the shareholders’ agreement leaves him in charge. The questions that cause refusals are whether the money has actually been spent on the business rather than parked, whether the amount is proportionate to launching a septic-installation company, and whether the business will exceed a marginal living.