Grenada National Transformation Fund (NTF) CBI Investment Option

The Grenada National Transformation Fund (NTF) donation is a route to obtaining citizenship under Grenada’s Citizenship by Investment Program. By making a non-refundable contribution of at least $150,000 to the fund, investors can enjoy a streamlined application process and the benefits of being a Grenada passport holder. Incorporated into the Grenada Citizenship by Investment Act of 2013, an attractive aspect of the NTF is that money from the fund is used to boost Grenada’s economic growth and support various projects in many industries, including tourism, agriculture, and alternative energy.

Why Investors Choose the NTF Investment

The main benefit for applicants opting for Grenada’s National Transformation Fund (NTF) investment is that the application process is hassle-free, particularly when compared to the process of real estate investment. The NTF route enables you to file your application electronically for a more streamlined process.

Furthermore, by investing in the NTF fund, you are positively contributing to the island of Grenada by financing projects that improve its social and economic progress. Once you obtain citizenship, you obtain passport which enhances your global mobility.

From 2017 to 2019, donating to the National Transformation Fund (NTF) was the most popular route for citizenship by investment in Grenada. Between 2016 and 2022, around $172.8 million was invested in the fund. In recent years, the greater demand for accommodation by tourists has driven more investors to choose the real estate option to obtain dual citizenship.

The following table shows the percentage distribution of investments in Grenada real estate and Grenada’s National Transformation fund from 2014 to the third quarter of 2022.

Grenada’s government announced that 508 investors had their citizenship by investment applications approved in 2023. As a result, the government received over XCD 270 million ($100 million) in income. In December 2023, the government of Grenada released an investment overview of the Estimates of Revenue and Expenditure for the Year 2024 for its CBI program.

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The table below outlines how the non-refundable contribution amount, government due diligence fees, application fees, and processing fees vary based on the number of applicants.

NTF Fund Option	Individual Applicant (US$)	Married Couple (US$)	Family of Four (US$)	Family of Five and More (US$)
Contribution amount	$150,000	$200,000	$200,000	$200,000 + $25,000 per additional dependent after 3rd
Government Due Diligence fee	$5,000	$10,000	No fee for dependents aged 0-16 $5,000 per dependent 17 and over	No fee for dependents aged 0-16 $5,000 per dependent 17 and over
Application fee	$1,500 per person	$1,500 per person	$1,500 per person	$1,500 per person
Processing fee	$1,500 per person	$1,500 per person	$1,500 per person 18 and over $500 per person under 18	$1,500 per person 18 and over $500 per person under 18

Obtaining citizenship through a donation to Grenada’s National Transformation Fund is straightforward. A significant advantage is that the investment in Grenada is only required after your application is approved in principle, confirmed by a letter from Investment Migration Agency Grenada (IMA).

Government Allocation of Funds

As mentioned above, funds from the National Transformation Fund (NTF) are used to support an approved project designed to improve the lives of Grenada citizens.

Criteria to receive funding

Grenada’s Fiscal Responsibility Law (FRL) requires that 40 percent of NTF funds be placed in a contingency fund and be used for arrears payments, debt reduction, and contingency financing for disaster relief. In 2019, the government amended the NTF regulations to provide financial support for relief, recovery, and reconstruction after a natural disaster. Additionally, rules were set regarding the accumulation of resources in the fund, and governance and accountability arrangements were elaborated.

Breakdown of fund allocation

Grenada’s Finance Ministry publishes a report quarterly each year detailing the number of applications and funds received for the NTF under the CBI program and how the funds are spent. For example, in the fourth quarter of 2022, Grenada’s Treasury spent XCD 21,149,946 on capital projects. Funds are also used towards NTF operating expenses, budgetary support for the Treasury, financing various projects (such as improving infrastructure and education), and supporting industries including tourism, agriculture, and alternative energy.

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Frequently Asked Questions about Grenada's NTF

What is Grenada's NTF?

Grenada’s National Transformation Fund (NTF) was established in 2013 and is a route to obtain Grenada citizenship under the country’s citizenship by investment program. An individual can make a non-refundable minimum contribution of $150,000 to the fund and receive citizenship.

Contributions from applicants opting to invest in the NTF fund are used towards transforming Grenada’s economy as well as developing and supporting the country’s infrastructure, education, and more. Finally, the fund is used to support various projects in many industries, including tourism, agriculture, and alternative energy.

What is Grenada's NTF Fund minimum donation?

The minimum investment amount required for Grenada’s National Transformation Fund will depend on the number of applicants included in your application. The fund investment minimum contribution for an individual is $150,000, while a family of four must contribute $200,000. Additional costs, such as due diligence fees and processing fees, can also vary depending on the number of applicants.

Is the Grenada NTF the only route to citizenship?

The National Transformation Fund is one of the ways you can obtain citizenship in Grenada. Another option is to invest in pre-approved real estate. Both options allow you to include family members in your application for permanent residence in Grenada.

Who can apply for citizenship under Grenada's NTF Fund?

Applicants applying for Grenada citizenship must be at least 18 years old, meet the due diligence and personal requirements, and be able to make the required financial contribution to the fund. The main applicant can include family members, such as a spouse, dependent children, and dependent parents, in their application.

How does the NTF ensure transparency and accountability in its operations?

The Grenada National Transformation Fund( NTF) operates under government oversight, ensuring adherence to legal and regulatory frameworks by publishing regular reports detailing its activities, expenditures, and contributions. These reports are accessible to the public and promote transparency. Entities such as the Financial Action Task Force (FATF) establish global transparency norms, which Caribbean CBI countries must meet to uphold the integrity of their programs.