Grenada NTF citizenship: preparing a source-of-funds explanation

A Grenada National Transformation Fund application requires an explanation of how the proposed funds were generated. The Investment Migration Agency requires the main applicant to have sufficient funds from a lawful source, and submitted information is checked during due diligence.[1]

Official Form 5 separates employment, the source of funds, business interests and the intended remitting bank.[2] These sections provide a practical structure for a coherent explanation.

Identify the activity that generated the funds

Form 5 defines the source by reference to the activity producing the money needed for the application. It is completed by the main applicant and, where applicable, a benefactor.[2] Describing money as personal savings may therefore leave its underlying origin unexplained.

For employment income, an explanation might connect the period of employment, earnings records and corresponding receipts. For dividends, it might connect ownership, distribution records and payment. These are ways to organise evidence around the actual source; the agent should confirm the appropriate documents for the case.

Keep the explanation consistent with personal history

Form 1 asks for 10 years of employment history, including unemployment, retirement and self-employment.[3] That chronology offers a useful cross-check against the periods described in the financial explanation.

Form 5 separately requests companies in which the applicant beneficially owns equity, including their names, registered addresses and ownership percentages.[2] Where names, ownership or income arrangements changed, retain records explaining the change rather than merely making the wording uniform.

Connect the explanation to the proposed payment

Form 5 requests details of the bank from which the balance payable will be remitted. Form 6 separately records the NTF contribution and relevant application fees.[2][4] The source narrative, proposed amounts and banking information should be checked together.

For transfers between an applicant’s own accounts, corresponding outgoing and incoming records can help trace the funds. Where another person provides money, disclose the relationship and proposed arrangement to the agent so that the applicable forms and evidence can be confirmed.

Keep the file current during review

Form 1 includes a commitment to notify the authority promptly in writing if circumstances change between application and citizenship and affect information already provided.[3] Relevant changes to income, business interests or funding arrangements should therefore be discussed with the agent.

A well-prepared explanation allows the reviewer to follow the funds’ origin, supporting records and proposed payment. The agent should check the applicable forms and certification requirements before submission; the authority retains responsibility for the decision.[1]

Official sources

1. IMA Grenada: requirements and application process
2. Grenada Form 5: employment, source of funds and business affiliations
3. Grenada Form 1: personal information and changes in circumstances
4. Grenada Form 6: NTF contribution and fee confirmation

General policy information; individual circumstances and the competent authority’s requirements govern each application.