BLS International Services today 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 USD 31 million (Rs 260 crore), fully funded through internal accruals. All necessary government and regulatory approvals were obtained ahead of schedule.
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For the calendar year 2023, Citizenship Invest reported audited revenues of USD 9.6 million (Rs 81 crore) and an EBITDA of USD 4.4 million (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.
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First Published: Oct 04 2024 | 7:23 PM IST
