Citizenship has successfully served more than 1,800 clients from over 85 countries, boasting a 99 pc success rate in application approvals (Photo: Citizenship Invest)
BLS International Services, a leading global tech-enabled service provider for governments and citizens, has announced the successful completion of its acquisition of 100 pc stake in Citizenship Invest (CI), a Dubai-based firm specialising in fast-track investor programmes for residency and citizenship across more than 15 countries.
According to a press statement, BLS, through its wholly-owned subsidiary BLS International FZE, based in the United Arab Emirates, acquired CI for a total purchase consideration of USD 31 million or about INR 2.6 billion, fully funded through internal accruals. All necessary government and regulatory approvals were obtained ahead of schedule, it adds.
According to the press statement, founded in 2009, Citizenship Invest has grown into a prominent player in the citizenship and residency industry, offering over 20 programmes. The company has successfully served more than 1,800 clients from over 85 countries, boasting a 99 pc success rate in application approvals.
BLS says that for the calendar year 2023, Citizenship Invest reported audited revenues of USD 9.6 million and an Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of USD 4.4 million, with a robust EBITDA margin of 45 pc. The company experienced notable growth in 2023, with a 28 pc increase in revenue and a 43 pc rise in EBITDA.
The statement adds that this acquisition strengthens BLS’ portfolio in visa and consular services, specifically enhancing its long-term visa solutions such as citizenship and residency services. Over its 15-year history, Citizenship Invest has built a strong reputation among high-net-worth individuals (HNWIs) as a trusted provider in this sector.
Shikhar Aggarwal
BLS says that Sakura Advisory acted as the legal advisors for the transaction.
“We are thrilled to welcome Citizenship Invest, a renowned leader in the citizenship and residency space, into the BLS family. This acquisition underscores our commitment to expanding our capabilities in the visa and consular services sector. It aligns with our strategic vision of creating synergies across our business and delivering greater value to all our stakeholders. Leveraging BLS’s global network spanning over 66 countries, we plan to accelerate Citizenship Invest’s growth by focusing on regions with a high concentration of HNWIs. This strategy will enable us to tap into new markets, enhance Citizenship Invest’s global footprint, and position BLS as a comprehensive solution provider for visa, consular, citizenship and residency services,” says Shikhar Aggarwal, Joint Managing Director of BLS International Services Limited.
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