Leasing equipment is not automatically disqualifying. Assess the investor’s actual paid or qualifying committed capital against the cost of the enterprise, rather than counting the equipment’s entire value or all future rent as already invested. Treaty nationality and ownership, genuine development and direction, substantiality, at-risk investment and non-marginality still need support.
Show the exposure the lease creates
A lease can create a longer financial exposure than a purchase, because the obligation continues whether or not the business succeeds. Present the term, the total contracted amount, any personal guarantee, and the cost of ending the agreement early. A personal guarantee is relevant evidence of liability, not automatically a dollar-for-dollar capital contribution. Then show how the leased equipment fits the operating plan and the capacity the enterprise expects to reach. A reviewer assessing the proportion of committed capital needs the enterprise's total start-up cost stated in the same records.
The buyer must develop and direct the enterprise, ordinarily through at least fifty percent ownership or operational control. By tracing shares to the individuals who hold them and adding up the percentage held by people who carry the treaty nationality. A non-treaty national holding a third of the holding company reduces the treaty-national share of the U.S. business accordingly.