The Business Plan in the EB-5 Ecosystem

Rose Odette
Nov 6
5 min read

United States Capital Building in Washington DC - USA

Business planner plays a pivotal role in the EB‑5 Immigrant Investor Program (“EB-5”) space, and if you’re aiming to become an expert in U.S. immigration, understanding this role is critical. Let’s break it down — what the business planner does (with ideals), 5 key take-away actions people in the EB-5 investment space should heed, and then a mini case-study to bring it to life.

The role of the business planner: what they do & the ideals they should uphold

When someone invests under EB-5, one of the major documents required is a detailed business plan (for the “new commercial enterprise” or NCE). The planner (or planner team) is responsible for preparing that business plan, working with the investor, project sponsor, attorneys and economists. Here are the major functions + the ideals behind them: The Business Plan

Key functions

Structure the investment narrative: The business planner helps articulate how the investment will be implemented, how capital is deployed, how jobs will be created, what the business model is. (Wise Business Plans®)
Ensure compliance with EB-5 requirements: The planner must ensure the business plan meets the standards of the Matter of Ho precedent (i.e., the business will engage in a new commercial enterprise; the investment is “at risk”; at least 10 U.S. workers will be employed (for direct investments) or jobs shown via economic model (for regional centre). (Oxbridge Content US)
Forecast job creation & financial viability: The planner translates assumptions into a 5-year (or more) financial forecast, links hiring plans, timelines, and operational structure. (Wise Business Plans®)
Craft the operational / market story: They do market research, competitive analysis, operations plan, management team section — so that immigration authorities see the business is real, viable, credible. (EB5 Insider)
Coordinate with legal & immigration inputs: The business plan isn’t just a business document — it must align with the immigration petition (Form I-526 or I-526E) and the job creation evidence. So the planner often works with immigration lawyers, economists, auditors. (Forbes)

The ideals the planner should uphold

Transparency & realism: The plan should reflect realistic projections, credible assumptions. Over-optimistic or vague projections raise red flags. (Wise Business Plans®)
Full compliance with immigration requirements: The business planner should not cut corners. The job-creation requirements, the “at‐risk” investment, the timeline — all must be adhered to.
Clarity & usability: The plan should be written in a way immigration officers can follow; not a generic template. Tailored to the project. (Oxbridge Content US)
Operational integrity: Beyond satisfying rules, the plan should reflect a credible business that actually operates (or will operate) — so it adds value, not just immigration paperwork. (Wise Business Plans®)
Risk mitigation: The planner should anticipate possible delays, job‐creation challenges, market risks and incorporate mitigations. A strong plan addresses risk. (Forbes)

5 Take-away actions for people in the EB-5 space

If you or an investor you advise are working in EB-5, keep these actionable items front of mind:

Start the business‐plan process early — don’t treat it as an afterthought. The business plan is not just a formality; it’s central to the petition. If it’s rushed or generic, you risk RFEs (Requests for Evidence) or denials. (Wise Business Plans®)
Choose a business planner (or plan-writer) who understands EB-5. You want someone who knows the immigration side (job creation, risk, at-risk capital) and knows business modelling, operations, market analysis. A “business plan writer” without EB-5 experience may miss key elements. (EB5 Insider)
Ensure the job‐creation component is clearly documented and aligned with your investment. Whether direct hiring or through a regional centre (indirect/induced jobs), the assumptions must match the capital deployed, the timeline, and realistic expectations. (EB5AN)
Validate your assumptions with credible market research and realistic financial projections. The plan should not just say “we’ll hire 10 workers” — it should show how revenue supports those wages, what the market demand is, cost assumptions, etc. Unreasonable projections = red flag. (Wise Business Plans®)
Maintain documentation and be ready to show actual execution. After conditional residence is granted, you’ll need to demonstrate that the business did what was promised (for example when filing the removal of conditions, Form I-829). So ongoing tracking, record-keeping, job verification matter. (EB5 Visa Investments)

Case Study: Putting it into practice

Here’s a fictionalised but realistic scenario drawn from real-world patterns:

Investor Profile: Ms X from India wants to invest under EB-5 via a regional centre route (passive investment) because she prefers a less hands-on role.

Project: A mixed-use residential/hospitality development in a “Targeted Employment Area” (TEA) in North Carolina (U.S.). The regional centre publishes that the project will create 300 direct/indirect jobs.

Role of business planner:

They prepare a business plan showing the NCE (new commercial enterprise) structure, capital investment schedule, timeline of construction, operations phases.
They include market research showing residential demand in that region (aging population, relocating retirees), occupancy rates, revenue per unit, hotel occupancy.
They develop a job creation model: direct jobs (hotel staff, property management, maintenance) + indirect/induced jobs (suppliers, services) via an economic model.
They present a 5-year projection of income statements, cash flows, balance sheet, showing business profitability and ability to sustain hiring.
They map milestone hiring: e.g., in year 2 (hotel opens) hire 50 staff; year 3 additional 30; plus supporting jobs. Show how 10 full-time positions per investor are met (or will be met) by specific timeline.
They include risk mitigation: if occupancy lags, plan for service contracts; financing delays, buffer jobs; regulatory delays etc.

Outcome: Ms X files her I-526 petition with that business plan, along with source-of-fund documentation. It is approved without a major RFE because the business plan was thorough and aligned. After two years of conditional residence, the business is operating, job targets met, and she files for removal of conditions and obtains permanent resident status.

Lessons from the case study:

Because the planner integrated business-realities (market demand + operations) with immigration requirements, the plan was credible.
Because job creation was mapped specifically and realistically, the job-creation requirement was clearly satisfied.
Because risks were anticipated, the execution did not derail, supporting the “at risk” requirement and business viability.
This underscores the importance of the planner’s role: they turned what could be a compliance exercise into a working business model that supports immigration goals and business/operational success.

Why this matters

Knowing how a business planner works means you can evaluate whether a business plan is good or weak.
You’ll understand what immigration officers are looking for when assessing the business plan portion of the EB-5 petition.
You can advise clients (or help investors) to insist on certain standards (realism, documentation, job-creation mapping) rather than just “sign the paperwork”.
You’ll spot red-flags: generic templates, unrealistic projections, missing job creation specifics — all of which could derail an EB-5 approval.