The Grenada National Transformation Fund (NTF) was established in 2013 as a means of transforming Grenada’s economy into one that is ever more prosperous and independent. The National Transformation Fund (NTF) was established under section 43 (1)(a) of the Public Finance Management Act Cap 262B, and is responsible for funding Government-sponsored projects in Grenada. The ‘Approved project’ is defined under Section 3 of the Grenada Citizenship by Investment Act, 2013 as a project that is approved by the Minister following the review and recommendation of the Citizenship by Investment Committee.
The NTF fund finances various projects in Grenada for the benefit of its many industries, including tourism, agriculture, and alternative energy. Having made a donation to the NTF, investors are left with a true sense of having contributed to nation’s wellbeing. The Finance ministry publishes a report on inflows of funds and applications received for NTF under the CBI programme quarterly each year.
The Grenada Government uses monies in the NTF fund for the following purposes:
- Debt reduction
- Contingency fund allocation
- NTF Operating expenses
- Budgetary support (Treasury)
- Capital projects
- Arrear repayments
Required Contributions
CBI Applicants opting for the NTF route must contribute once at least USD 150,000 to the Fund as one time non-refundable investment for economic citizenship. It is also one of the popular routes for preferred by citizenship investors.
The following table highlights the costs and fees associated with this route.
|
NTF DONATION
|
Individual Applicant
|
Main Applicant + Spouse
|
Family of four family members
|
Family over four family members
|
|
Required Contribution Amount |
USD 150,000 |
USD 200,000 |
USD 200,000 |
USD 200,000 plus USD 25,000 per additional dependant after the third dependant |
|
Application Fee
|
USD 1,500
|
USD 1,500 per person
|
USD 1,500 per person
|
USD 1,500 per person
|
|
Due Diligence Fee
|
USD 5,000
|
USD 5,000 per person
|
* Dependent child 0 – 16 nil
* Dependent 17 and over USD 5,000 |
|
|
Processing Fee
|
USD 1,500 |
USD 1,500 per person |
USD 1,500 per person aged 18 and over, USD 500 for persons under 18
|
USD 1,500 per person aged 18 and over, USD 500 for persons under 18
|
