The actual ownership, control and role require assessment; a percentage alone is not a complete answer.
Read the governing rights
Identify how the applicant would develop and direct the enterprise. Do not equate a passive investment with operational control. Hypothetical example: a mobile optical-lens laboratory owner purchasing a minority interest with negotiated operational vetoes.
At a first review, the first review should read the rights package, nationality chain, business plan, and investor role together. The records most likely to settle that point are share register, governing agreement, passport evidence, operating plan, closing papers, and management-responsibility records. Sequence the work deliberately: settle control terms before funds are committed, then test whether the investor will genuinely direct and develop the enterprise.
A common error is assuming a minority percentage is conclusive without reading who appoints managers and controls key operations; that error matters because a conclusion based on incomplete or mismatched facts may not carry to the final arrangement. Write down the decision that remains after the review, the fact that could change it, and the record needed to resolve that fact. This creates a usable file rather than a collection of documents that cannot be connected to the actual plan.