The new general theory dedicated to the stability for LTI MIMO, in particular nonsquare, fractional-order systems described by the Grünwald–Letnikov discrete-time state–space domain is presented in this paper. Such systems under inverse model control, principally MV/perfect control, represent a real research challenge due to an infinite number of solutions to the underlying inverse problem for nonsquare matrices. Therefore, the paper presents a new algorithm for fractional-order perfect control with corresponding stability formula involving recently given H- and σ -inverse of nonsquare matrices, up to now applied solely to the integer-order plants. On such foundation a new set of stability-related tools is introduced, among them the key role played by so-called control zeros. Control zeros constitute an extension of transmission zeros for nonsquare fractional-order LTI MIMO systems under inverse model control. Based on the sets of stable control zeros a minimum-phase behavior is specified because of the stability of newly defined perfect control law described in the non-integer-order framework. The whole theory is complemented by pole-free fractional-order perfect control paradigm, a special case of fractional-order perfect control strategy. A significant number of simulation examples confirm the correctness and research potential proposed in the paper methodology.