BLS International Acquires Dubai-based Citizenship Invest for Rs. 260 Crore

Citizenship Invest experienced 28% increase in revenue and a 43% rise in EBITDA in 2023

BLS International Services Limited (BLS), a leading global tech-enabled service provider for governments and citizens, announced the successful completion of its acquisition of 100% stake in Citizenship Invest (CI), a Dubai-based firm specializing in fast-track investor programs for residency and citizenship across more than 15 countries.

BLS, through its wholly owned subsidiary BLS International FZE, UAE, acquired CI for a total purchase consideration of approx. Rs. 260 crore, fully funded through internal accruals. All necessary government and regulatory approvals were obtained ahead of schedule.

Founded in 2009, Citizenship Invest has grown into a prominent player in the citizenship and residency industry, offering over 20 programs. The company has successfully served more than 1,800 clients from over 85 countries, boasting a 99% success rate in application approvals.

For the calendar year 2023, Citizenship Invest reported audited revenues of ~Rs. 81 crore and an EBITDA of ~ Rs. 37 crore, with a robust EBITDA margin of 45%. The company experienced notable growth in 2023, with a 28% increase in revenue and a 43% rise in EBITDA.

This acquisition strengthens BLS’s 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. Sakura Advisory acted as the legal advisors for the transaction.