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Transcript

Vancis Capital and Global Residence Index Complete €21 Million Merger · IMI Podcasts

• 0:00
  SPEAKER_00: Vance Capital and Global Residence Index, also known as GRI, have finalized their merger following a six-month negotiation period, resulting in an implied combined valuation for the new company of 21 million euros.
• 0:13
  SPEAKER_00: The companies completed the transaction through legal and accounting professionals on November 7, 2024.
• 0:19
  SPEAKER_00: Duane Chohan will act as group CEO, overseeing both Vance Capital and GRI.
• 0:25
  SPEAKER_00: Mark Damsgard joins as VP of Marketing at Vancey's Capital, focusing on European residency programs and real estate opportunities across Europe.
• 0:35
  SPEAKER_00: The companies expect to complete integration within two months.
• 0:39
  SPEAKER_00: Vance Capital will oversee operations, while GRI continues as its information platform.
• 0:46
  SPEAKER_00: The new company will maintain offices in Dublin, Dubai, Istanbul, Port Vila, and Cebu, working with government bodies and regulatory agencies on citizenship programs, residency pathways, real estate investments, and government sovereign bonds.
• 1:03
  SPEAKER_00: Quote, the significant online presence of Global Residence Index unlocks new opportunities, end quote.
• 1:11
  SPEAKER_00: Chohan notes about the merger's impact on their European residency programs and real estate operations.
• 1:18
  SPEAKER_00: Both firms will launch a new platform to rank global residency programs, expanding their real estate services across European markets.
• 1:28
  SPEAKER_00: Six years of operational collaboration underpin the merger, which combines GRI's digital platform with Vansys Capital Services.
• 1:38
  SPEAKER_00: The company projects annual revenue of 7.2 million euros within 24 months.
• 1:43
  SPEAKER_00: They expect a substantial increase in growth in the near term, citing recent political changes and emerging uncertainties as significant drivers.
• 1:53
  SPEAKER_00: The deal represents 2024's second significant investment migration consolidation after BLS International Acquired Citizenship invest for$31 million in September, a deal that played a central role in securing Citizenship Invest's founder, Veronica Kotamy, the 2024 IMI Person of the Year Award.
• 2:16
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDaily.com.
• 2:22
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• 2:30
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