BLS International Services Ltd., a tech-enabled service provider for governments and citizens, announced the completion of its acquisition of 100% stake in Citizenship Invest (CI), a Dubai-based firm specialising in fast-track investor programmes 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 $31 million (₹260 crore), fully funded through internal accruals.
“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 (HNIs) as a trusted provider in this sector,” the company said in a statement.
Shikhar Aggarwal, Joint Managing Director of BLS International Services Ltd., said, “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.”
Published – October 04, 2024 10:53 pm IST
