What … Not Enough Lawyers? | Episode 196
Episode 196
Out of all the lawyers in the United States, only a small handful specializes in EB-5-related immigration law. There are, however, myriad consultants who may at first glance appear to offer the same services—including those relating to citizenship by investment (“CBI”) and residency by investment (“RBI”) programs—but their competence more often than not is suspect.
So to whom should investors turn?
The answer clearly is the EB-5 and/or CBI lawyer, though many investors do not realize this. In our new episode of MSA Global’s long-running podcast series Global Investment Voice, host and MSA Global Managing Partner Mona Shah, Esq. outlines what EB-5 and CBI investors need to know … with insights from leading CBI expert Sam Bayat, Founder of Dubai-based investment-migration specialist Bayat Group.
Take a listen below.
Some highlights from the episode:
Sam: “Generally speaking, worldwide, the whole concept of immigration, especially business immigration, has been commoditized, and people are not properly looking at the process because it’s commoditized.”
Sam: “When I try to talk about the U.S. market, particularly EB-5, I always tell clients that, wait a minute—there’s a couple of things you need to understand. The investment is not to be guaranteed. There is going to be a conditional Green Card. So people really think twice.”
Sam: “Know the rules of different countries.”
Sam: “It’s not just the consultants filling up a void. The government has also created a void that is filled by people that don’t need to be properly qualified.”
Mona: “Even in the U.S., there are a lot of lawyers—immigration lawyers—who will work with an investor for their source of funds, but will not spend any time discussing the complicated business structures or the details of the documents.”
Sam: “If you have to pay for a certain service at the same price, well, why don’t you go hire someone who’s more competent and of course someone who’s insured?”
Guest Speaker
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.