Mon Oct 14 06:01:32 UTC 2024: ## BLS International Acquires Dubai-Based Citizenship Invest for USD 31 Million

**Dubai, UAE, October 4, 2024:** BLS International Services, a leading provider of visa, passport, and citizen services, announced today 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.

BLS International FZE, UAE, a wholly-owned subsidiary of BLS International Services, 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.

Citizenship Invest reported audited revenues of USD 9.6 million (Rs 81 crore) and an EBITDA of USD 4.4 million (Rs 37 crore) for the calendar year 2023, achieving a robust EBITDA margin of 45%. The company experienced significant growth in 2023, with a 28% increase in revenue and a 43% rise in EBITDA.

This acquisition marks a strategic expansion for BLS International Services, adding expertise in fast-track investor programs to its portfolio. The company is now positioned to offer a comprehensive suite of services for individuals seeking residency and citizenship in over 15 countries.

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