EB-5 rules require the EB-5 investor to invest in a new commercial enterprise (NCE) that is engaged in lawful business activity for profit.

The NCE is typically structured as a limited partnership (LP) or limited liability company (LLC), of which the EB-5 investor is a limited partner or member. The project's sponsor is the general partner or managing member, respectively.

Under the EB-5 Regional Center Program, the NCE invests the investors' EB-5 capital in the Job Creating Entity (JCE) in the form of a loan or equity. The JCE is the project company responsible for developing the project and creating jobs to satisfy the EB-5 investor's green card requirement.