India-headquartered visa service provider BLS International Services has signed a definitive agreement to acquire a 100% stake in Citizenship Invest, a Dubai-based advisory firm for $31m.
The acquisition will be funded through internal accruals and is expected to be completed by October 31, 2024, subject to necessary regulatory approvals, a report in cnbctv said.
Citizenship Invest specialises in fast-track investor programmes for obtaining residence and citizenship across more than 15 countries.
Founded in 2009, Citizenship Invest is a key player in the citizenship and residency application market, offering services through 20 programmes.
Shikhar Aggarwal, joint managing director of BLS International Services, said: "The company’s outstanding 99% application success rate, combined with its high revenue per application, aligns perfectly with our customer-centric philosophy. By integrating CI into our portfolio, we are enhancing our capabilities in offering long-term visa solutions and further solidifying our position as a comprehensive global provider of visa and consular services."
