You have to withhold 25% of any gains or distributions unless they are registered with CRA with a tax ID. As such a corporation is simplest as usually the distributions come on exit, on sale, and 25% approximates the capital gains tax anyway. No annual filing required unless there is a cash payment, unlike an LP or straight ownership (undivided interest) type of JV.
Likely the bank will only look at you as the borrower, and the asset, so the LTV will depend on your and asset, not the foreign investors, and it will depend on the legal structure. For an asset held in a corporation it is frequently, but not necessarily, harder to get 80% LTV.