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For a new commercial enterprise that is not a troubled business and is located within a regional center, the EB-5 Program provides that the full-time positions can be created either directly or indirectly by the new commercial enterprise. See 8 C.F.R. § 204.6((j)(4)(iii).

Q: Would a joint venture be considered an acceptable new commercial enterprise? Are only wholly owned subsidiaries considered new commercial enterprises? Please explain.

A: Joint ventures and wholly owned subsidiaries are mentioned in the non-exclusive list of what would be considered a commercial enterprise. The determination of whether a wholly owned subsidiary meets all of the statutory and regulatory requirements of the EB-5 program is made on a case-by-case basis.

Taken directly from USCIS EB-5 Immigrant Investor Program Quarterly Stakeholder Engagement on May 1, 2012.