Do not decide from title alone. Examine the actual payment, risk, lease rights and relationship to the operating enterprise.
Understand what the investor obtains
A tenant may pay for work that supports operations while the agreement allocates ownership differently. Read the full executed arrangement instead of imposing a universal result. The applicant still needs qualifying treaty nationality, substantial lawful at-risk commitment, development and direction and a real nonmarginal enterprise; a construction invoice does not establish all those conditions.
The enterprise must be an active commercial undertaking producing goods or services for profit, not a passive holding of land or equipment, and it must have the present or future capacity to generate more than a minimal living for the investor and family. The consular standard asks whether the applicant is in a position to develop and direct the enterprise, and treats ownership of at least fifty percent, or operational control through a managerial position or other corporate device, as ordinarily sufficient. Passive property ownership and rent collection do not qualify; a storage business with staff, contracted customers, access and delinquency management, and services sold alongside the space is an active commercial enterprise.