Citizenship Invest Acquired by BLS International, Set for Rapid Global Expansion with Plans to Open Offices Worldwide
Date
9/15/2024 9:02:52 AM
(MENAFN- Karim Geadah) Dubai, UAE – 16 September 2024 - Citizenship Invest, a leading international advisory firm specializing in residency and citizenship by investment programs, is poised to embark on a rapid international expansion following the recent Acquisition by BLS International. Citizenship Invest will leverage BLS’s extensive global infrastructure, including offices in 66 countries worldwide, to enhance its global reach and service offerings. BLS holds a contract of exclusivity with the Spanish Government for global visa processing and has agreements with 45 other governments, including Canada, Germany, Italy, and Hungary, to manage their visa processing across various countries.
As part of its strategic plan, Citizenship Invest will open offices across the globe, significantly expanding its presence in key global markets. This expansion will be accompanied by a large-scale recruitment drive for sales consultants and other critical functions to support the company's growth.
"We are planning a fast international expansion that will multiply our sales exponentially in the coming three years," said Iñigo de Luna, Citizenship Invest’s CEO; “Citizenship Invest’s strong track record and expertise will be further enhanced by this acquisition, allowing us to serve a growing number of high-net-worth individuals seeking global residency and citizenship solutions as well as optimal tax structures."
BLS International’s Joint Managing Director, Mr. Shikhar Aggarwal, also commented on the acquisition, highlighting the complementary strengths of both companies and the potential for future growth: "We are excited to announce the acquisition of Citizenship Invest, a leading expert in long-term visa applications, enhancing our capabilities in visa and consular services. This strategic move strengthens synergies, boosts EBITDA, and leverages CI's strong financial performance and high application success rate to drive growth and global market presence."
Awad Capital Ltd., a DFSA-regulated company, served as the exclusive financial advisor to Citizenship Invest on the transaction. Ziad Awad, CEO of Awad Capital, remarked: “This transaction exemplifies the robust opportunities within the GCC entrepreneurship ecosystem. We are proud to have facilitated this union and to bring Foreign Direct Investment into the UAE by helping a listed global company establish a hub in Dubai.”
The sellers were also advised by Al Tamimi and Co. as their legal advisors.
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