No. Assess each applicant and the enterprise under the actual nationality, investment and development-and-direction requirements. Equal shares do not establish every condition.
Identify the applicant’s real authority
Read decision rights and duties alongside ownership. The enterprise generally needs at least 50% treaty-country ownership, but meeting that nationality threshold does not by itself establish the applicant’s ability to develop and direct it. Lawful substantial capital committed at risk and a real nonmarginal enterprise also need evidence. Do not infer either automatic approval or automatic refusal solely from a 50–50 split.
A first review should produce a short eligibility map that marks facts already proved, facts needing a primary record, and facts that cannot be solved by a job title. Trace lawful funds into an irrevocable, at-risk commercial commitment, then test whether the real enterprise is nonmarginal and the applicant will develop and direct it. A bank balance or a future intention does not settle those questions. Hypothetical example: a maker of custom fountain pens has treaty nationality but lets a non-treaty partner control all daily purchasing.
The decision is to resolve any missing eligibility fact before presenting the role as settled.