Global Investment Voice

Hosted by Mona Shah & Partners Global

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241

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May 2026

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About the show

The first and most comprehensive podcast series that focuses on foreign direct investment, EB-5, and Residency & Citizenship by Investment (RCBI) programs. Hosts Mona Shah and Rebecca Singh focus on micro-issues, such as the latest breaking news in the industry. In addition, we welcome guests from all over the globe including: Global and US Developers, Industry Specialists, Authors, Journalists, Legislators and Politicians. With hundreds of episodes spanning 8 years, the podcasts are diverse, as they discuss the programs from both a legal perspective and business development factors, as well as investor return and residency considerations. If you have questions about investment immigration, please reach out to Mona Shah & Partners. Phone: 212-233-7473 Email: info@mshahlaw.com Website: https://www.mshahlaw.com

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May 29, 2026Episode 24122 min

The Memo Is Loud. INA 245(n) Is Louder.

Just before Americans fired up for their Memorial Day weekend, USCIS dropped a policy memo that sent the immigration world into a panic. With lawyers, investors, and visa holders alike scrambling to analyse their message. So, what does it actually mean? And more importantly, should EB-5 investors be worried? In this episode of Global Investment Voice, Mona Shah is joined by immigration attorney Abdul Arif and paralegal Doris Chakra to cut through the chaos and deliver what really matters. Whilst the law hasn't changed, the posture has. Discretion has always existed in adjustment of status decisions, and this memo is less of a revolution and more a reminder of what officers could already do. Crucially for EB-5 investors, the Reform and Integrity Act of 2022 has your back. The right to concurrent filing under Section 245N is baked into statute. No policy memo can override an Act of Congress. But that doesn't mean you should be complacent. The trio dig into what this means for applicants from higher-scrutiny countries, what "extraordinary circumstances" actually means (spoiler: nobody knows yet), and why a well-prepared file with strong counsel is your best defence right now. If you're navigating EB-5, adjustment of status, or US investment immigration, this is the episode you need to hear before your next filing. For those in EB-5 or the adjustment of status process, this is the episode for you “The fear that it has created has given an undue impression that all is lost – when it is not.” – Abdul Arif Abdul Arif Abdul Arif is an EB-5 specialist with a background in international tax law and anti-money laundering. He earned his law degree from St. Thomas University School of Law in Miami and began his legal career primarily practicing white collar criminal defense. Since entering the EB-5 and immigration field in 2018, he has assisted real estate developers in securing over $100 million in project financing, established eight Regional Centers, and filed more than 55 EB-5 petitions in the past few years. His practice also includes EB-5 litigation before the U.S. District Court for the District of Columbia. He is licensed before the Michigan Supreme Court, the United States Supreme Court, and the United States District Court for the Northern District of Texas, and has litigated pro hac vice in numerous states across the United States.

May 7, 2026Episode 24022 min

Nauru: The $90k Passport

Your next passport could cost less than a luxury car and take you farther!  Until now, you may have never heard of Nauru, a small island nation in the Pacific, with a population of just 12,000 and a landmass you could cross in half an hour. Nauru has launched one of the most disruptive citizenship-by-investment programs yet. With a price tag of $90k, only a 3-4-month waiting time, and zero residency requirement, this one is hard to beat. In today’s episode, Mona Shah is joined by Edward Clark, CEO of the Nauru Program Office, to unveil the program, which is turning heads and issuing passports at a staggering rate. We cover geopolitical anxieties that are driving demand for Nauru citizenship, including fears of military conscription, political uncertainty, and instability in the Middle East. Then there is the family-friendly structure, which lets you bring siblings, adult children, and even your mother-in-law for minimal extra cost! Nauru has 86 visa free destinations to offer, including Singapore, Hong-Kong and the UAE, at a price tag which undercuts Caribbean programs by upwards of $60k. So, whether you need a plan B for your family, want to travel politically neutrally, or are simply intrigued by the CBI markets' newest disruptor, tune in for your introduction to Nauru. Second passports are no longer exclusive to the ultra-wealthy, and Nauru is proof. Edward Clark Edward Clark is the Chief Executive Officer of the Nauru Economic and Climate Resilience Citizenship Program. His role is to oversee the management of the Program Office to ensure it is run effectively and to the highest standards. Edward has extensive experience in the banking and financial services sector, specializing in risk, financial crime compliance, regulatory compliance, and governance. He has worked with large multi-national banks and non-bank institutions across Asia-Pacific including as the Chief Compliance Officer for HSBC’s New Zealand operation. His experience in anti-money laundering, sanctions, combating bribery and corruption as well as fraud and tax evasion are integral to maintaining the integrity of the Program.

April 29, 2026Episode 23925 min

The Rural Bias Built Into EB-5’s DNA

Following their article exploring the rural bias built into EB-5’s DNA, Mona Shah and Rebecca Singh further delve into the processing-time gap between rural and urban I-956F applications. Rural projects are sailing through USCIS review in around 8 months whilst urban projects wait significantly longer. This is no administrative accident, but rather congressional intent embedded in the EB-5 Reform and Integrity Act of 2022. But what does this mean for developers and investors today? The pair condense the most pressing queries they are hearing from clients into six main questions. Is the processing gap unlawful discrimination? Does choosing a rural or urban project affect EAD and advance parole time? And, what happens if investors file before the September deadline, but the project is not approved until 2027? However, amongst the uncertainty, one thing is clear. Processing speed is merely a single factor for projects, not the whole picture. The project's resilience, exit strategy and likelihood of capital return matter just as much as a speedy approval. As the September 2026 deadline swiftly approaches, this episode is essential for investors and develops seeking clarity in the EB-5 programs complexity.

April 7, 2026Episode 23818 min

From Tokyo to the Mediterranean: Building Wealth and Mobility Across Two Continents

Wondering where your next global mobility move could take you? Mona sits down with Frank Cheang of Elysium 8 Holdings, a firm describing itself as more than a brokerage but a strategic gateway. They discuss three countries: Japan, Portugal, and Greece, including where investors are going wrong. Our discussion begins with Japanese real estate, and the numbers alone are worth listening to. Foreign investors are claiming mortgage rates of 3-5%, whilst citizens can borrow at 1% with 100% LTV. Almost 250 episodes into Global Investment Voice, and we are only just landing in Japan… We should have booked this trip sooner. From there, we move on to the better-known programs along the Mediterranean, with benefits that are harder to put a price on. Freedom to move, work, and outstanding education options. Portugal’s Golden Visa has raised over six billion euros and offers the fastest route to citizenship in Europe, five years. Whilst Greece takes seven years, they have zero minimum stay requirements, excellent for global investors. Japan, Portugal, and Greece all have something different to offer, whether you’re a seasoned investor diversifying or a family weighing up your long-term options. This episode brings all three together to make your choice easier.  Frank Cheang Frank Cheang of Elysium 8 Holdings is a hospitality investment specialist based in Hyogo, Japan, focused on boutique and luxury hotel acquisitions, as well as cross-border real asset strategies. He works with international investors and globally mobile families to source and structure opportunities that align with residency and Golden Visa programs, particularly in Europe, including Portugal and Greece. Collaborating with legal and advisory partners, Frank helps clients navigate both the investment and immigration sides of a transaction, supporting decisions around jurisdiction, capital deployment, and long-term positioning. His work sits at the intersection of hospitality, cross-border investment, and global mobility, where property is increasingly being used not just as an asset class, but as a pathway to greater flexibility, security, and generational planning. Visit Elysium 8 Holdings here

March 25, 2026Episode 23717 min

Passports Are the New Portfolio

Never mind stocks and bonds, the savviest investors in today’s market are now diversifying with citizenship! In this episode of Global Investment Voice, Mona and Rebecca are joined with Tatiana Muntean from Global Freedom Capital to unveil one of the best kept secrets in the citizenship by investment community. São Tomé and Príncipe. With Trump’s travel bans and pauses shaking up the immigration world and Caribbean CBI programs pricing out everyday investors, São Tomé and Príncipe has quietly entered the market, and it could be the smartest move for your global mobility. With a price tag of just $90,000 (roughly one bitcoin), this small country, located just off the coast of western Africa, offers a fully remote and fast application process. Think of an overlooked pathway to citizenship in Portugal and Brazil, and the kind of privacy that doesn’t make Trump’s list. One passport is no longer enough. Is this the best citizenship buy of 2026? Tatiana Muntean Tatiana Muntean is the Founder and CEO of Global Freedom Capital, a U.S.-based advisory firm specializing in global mobility, second citizenship, and international investment opportunities. With extensive experience advising high-net-worth individuals, family offices, and international partners, she helps clients strategically navigate residency and citizenship programs around the world. Tatiana also works closely with governments and industry stakeholders, providing strategic advisory and on-the-ground support for the development, promotion, and responsible positioning of investment migration programs. She collaborates with partners across Europe, the Americas, Africa, and the Caribbean to expand global mobility opportunities for investors and their families.

March 18, 2026Episode 23625 min

Before You Wire the Money: The EB-5 Conversation You Need to Have

Global instability does not wait for anybody! With conflict in the Middle East altering international markets, individuals worldwide are rushing to secure a Plan B for themselves and their families. The U.S. EB-5 Immigrant Investor Program is a top choice. Sam Hussain from BLS Global joins our hosts Mona and Rebecca to ask the burning EB-5 questions his clients keep coming back to, and the answers may just surprise you. Can you still file if your project is already built? And as the September 30th grandfathering deadline approaches swiftly, waiting until summer may already be a costly mistake. We unpack the issues investors must understand before filing, such as source of funds challenges, partial investment strategies, and rural versus TEA considerations. Are you considering EB-5? This episode is a masterclass in what sophisticated investors should know before they consider wiring a single dollar.  Sam Hussain Sam Hussain serves as the director of British publishing house BLS Global, the premiere educational platform for individuals and families pursuing global citizenship. Founded in 2010, BLS Global are recognized leaders in the field of investment immigration, Foreign Direct Investment and organize leading Global Investment Immigration Summits, headquartered in central London with offices in Asia, Middle East and Africa. They are worldwide pioneers in organizing events within emerging investment immigration markets and engaging high-net-worth and ultra-high-net-worth individuals through their investment portfolio CBI Global. They work closely with governments and intermediaries with investor programs that have raised more than USD 200 billion in direct investment.

March 10, 2026Episode 23519 min

The 75-Country Visa Freeze: EB-5, E-2, and Alternative Routes to U.S. Residency with Jill Jones

EB-5 visa applicants from 75 countries woke up to their worst nightmare on January 14th, 2026. Trump announced an executive order indefinitely pausing immigrant visa processing for nationals of certain countries. Investors who have spent months, even years, on their applications and planning are suddenly in Limbo. The reasoning behind the indefinite pause is questionable. The government wants to screen out potential public charges, people who might end up on welfare or food stamps. However, remember that we're discussing investors who must invest between $800,000 and $1 million to obtain an EB-5 visa. How are these people a risk for public assistance? Host Mona Shah sits down with Jill Jones, General Counsel of Institutional Client Services USA for JTC Group to explore what's happening. They talk through the questions everyone in EB-5 is asking, such as whether the panic is justified. Should investors continue with their applications or explore alternative options, such as E-2 visas? Some lawyers are even suggesting clients enter on tourist visas and apply for adjustment of status once they're in the country for ninety days, but that comes with real risks. Amongst this chaos is the September 30th deadline. Regional Centre protections are expiring, which is creating urgency right when this pause is throwing everything into question. If you're an immigration attorney trying to advise worried clients, or an investor wondering what to do next, this conversation cuts through the confusion and gets to what actually matters. “If I had one piece of … advice, I would say don’t panic. And I would say to investors on the list of 75 countries, don’t stop. Keep going. This will right itself, and it will work out.” — Jill Jones Jill Jones Jill joined JTC in 2020 following the acquisition of NES Financial and is the General Counsel of Institutional Client Services USA. She is General Counsel of Institutional Client Services USA for JTC Group. Responsible for legal, governance, risk and compliance activities in the US, and Jill oversees the Specialty Financial Administration wing, which includes EB-5 Administration, 1031 Exchange, and Delaware Statutory Trust services. With over 20 years of corporate and compliance experience and having been directly involved in over 600 EB-5 development projects, Jill is uniquely skilled at efficiently structuring subscription escrows and is highly regarded as a thought leader throughout the EB-5 market sector. Jill and her team are integral in negotiating contracts with new customers and designing, developing, and going to market with new product solutions.

March 4, 2026Episode 23417 min

War on Iran | One Weekend That Changed the Case for a Second Citizenship Forever

Recorded on March 2nd 2026 This week’s episode starts off quite unlike one we have experienced before in the 10 years of this podcast series! We speak again with our guest, Sam Bayat, who joins us from Dubai, a city that, just merely hours ago, was under missile alerts and explosions. Sam talks about his experience of a weekend of regional conflicts, and the city’s poise in the face of a disaster.   But the question, of course, comes up: in today’s world, when does a second passport stop being a luxury and become a necessity? We talk about the UAE’s golden visa, how the Government of Dubai managed to maintain order and the implications of this situation for investor confidence in the region. How is Sam’s second office in Tehran managing? Which countries are open for Iranian people? Sam stresses the point that if you only have a passport of one country, you’re always at the mercy of things beyond your control. This is a first-person account of the Gulf’s conflict, and a direct discussion about the implications of passport diversification in 2026. “My message to clients in general is don’t act out of panic and also don’t wait for everything to resolve by itself. Explore both solid regional residency programs, for example, the UAE Golden Visa, and where possible a second citizenship that is actually accessible to you. And of course, if you do apply for second citizenship, this is not a betrayal of your country of origin but to protect your family until the situation becomes better.” — Sam Bayat Sam Bayat In 1993, Mr. Sam Bayat established a boutique law practice in Dubai to promote Canada as a preferred destination for investment and migration. The firm, initially known as “Canadian Legal Services,” marked the first Canadian law firm in the GCC. In 2007, the firm name was changed to Bayat Legal Services. Today, Bayat Group boasts a global presence. The primary areas of expertise encompass corporate migration, economic citizenship, investments, and tax planning. Mr. Bayat has also served as the former president of the Canadian Bar Association’s International Section in Quebec. In addition, check out our previous podcasts with Sam Bayat here!

February 24, 2026Episode 23315 min

Inclusion is the Key to Growth: Reflecting on the Legacy of Reverend Jesse Jackson

Very few know about Jesse Jackson’s contributions to the EB-5 Industry. In this special tribute episode, we remember his words and honor his life and legacy . He was a civil rights activist and presidential candidate but above all, a towering moral voice who saw investment not merely as economics but as a pathway to justice. Nine years after he joined us on our podcast, we revisit his powerful words on the Rainbow Push coalition, the Wall Street Project, and the regenerative potential of the EB-5 program. He described economic access as the “fourth stage” of the civil rights movement and reminded us that “Inclusion is the key to growth, when there’s growth, everybody wins.” As we reflect on his life and legacy, we allow his words to speak his vision, a vision of fair opportunity and capital flowing into underserved communities. Rest well, Reverend Jackson. “Let me just say one of his wonderful lines, which was ‘inclusion is the key to growth. When there’s growth, everybody wins.’ That’s the EB-5 program at its best. And that’s the work we’re still doing”- Mona Shah Listen to our podcast episode with Jesse Jackson here

February 18, 2026Episode 23221 min

Is Business Immigration to Canada Dead? A Reality Check with Sam Bayat

What happens when a country shuts down every business immigration pathway precisely at the moment it needs entrepreneurs the most? Canada is staring down a $2 trillion crisis. With 75% of Canada’s 1.2 million small business owners reportedly planning to exit within the next decade, Canada is facing a succession crisis. Whilst the solution seems obvious to attract new entrepreneurial talent to the country, Canada has instead systematically dismantled almost every route for them to enter. In this episode of Global Investment Voice, immigration expert Sam Bayat joins our host Mona Shah to explore the shocking closure, suspension, and redrafting of major federal business immigration programmes in Canada, at precisely the moment Canada needs entrepreneurs the most. The Federal Investor Programme? Terminated in 2014 after 70,000 fraudulent applications overwhelmed the system. Quebec's investor option? Reduced to single-digit applications after introducing mandatory B2 French proficiency. The innovative Start-Up Visa that once promised so much? Shut down in late 2025 under the weight of 42,000 applications and 35-year processing times. Sam discusses the systemic failures which ended these programmes, such as paper startups and widespread abuse of the system with virtually non-existent enforcement. Perhaps most damning is the maths. Canada needs 100,000 entrepreneurs in the next 20 years, but their current intake now is merely 500. Find out which pathways still exist for serious investors in 2026, what created the growing gap between political rhetoric and economic reality and whether the perfect storm of retiring Canadian business owners alongside closed immigration routes is disastrous or an unexpected opportunity. It’s fair to say easy immigration to Canada is over. But has a more strategic game just begun?  “If the government asked me, is business immigration to Canada dead? My answer would be, is politics struggling at the worst possible moment, economically?. This is the time to expand business immigration, not to contract.” — Sam Bayat Sam Bayat In 1993, Mr. Sam Bayat established a boutique law practice in Dubai to promote Canada as a preferred destination for investment and migration. The firm, initially known as “Canadian Legal Services,” marked the first Canadian law firm in the GCC. In 2007, the firm name was changed to Bayat Legal Services. Today, Bayat Group boasts a global presence. The primary areas of expertise encompass corporate migration, economic citizenship, investments, and tax planning. Mr. Bayat has also served as the former president of the Canadian Bar Association’s International Section in Quebec. In addition, check out our previous podcasts with Sam Bayat here! Think you may have missed a podcast? Then check out our recent episodes to catch up!