The Grenada National Transformation Fund (NTF) Explained

The Grenada National Transformation Fund (NTF) 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. An attractive aspect of the NTF is that money from the fund, established in 2013, is used towards transforming Grenada’s economy and supporting various projects in many industries, including tourism, agriculture, and alternative energy.

Why Investors Choose the NTF

The main benefits for applicants opting to invest in Grenada’s National Transformation Fund (NTF) are that the application process is hassle-free, particularly when compared to the process of investing in real estate, and the NTF route enables you to file your application electronically for a more streamlined process. Furthermore, by investing in the NTF fund, you are making a positive contribution to the island of Grenada. Once you obtain citizenship, your passports will be couriered to you at your home.

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

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

In October 2022, Grenada’s government announced that 1,058 people had their citizenship by investment applications approved between January 2022 and September 2022. As a result, the Government received over $41 million (EC$112 million) in income. In December 2022, the Government released the Estimates of Revenue and Expenditure for the Year 2023 and presented a target revenue for the CBI program of over $88 million (EC$240,461,920) for the year.

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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

Important note: To obtain citizenship through Grenada’s National Transformation Fund is a straightforward process. A significant advantage is that the non-refundable contribution is only required after your application is approved in principle, confirmed by a letter from Grenada’s Citizenship by Investment Unit (CIU).

Government Allocation of Funds

As mentioned above, funds from the National Transformation Fund (NTF) are used to support and finance various projects aimed at improving 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 regulations governing the NTF 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 EC$21,149,946 on capital projects. Funds are also used towards NTF operating expenses, budgetary support for 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. An individual must invest $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 requirements, and be able to make the required financial contribution to the fund. The main applicant can include family members, such as a spouse or dependent child, in their application.