The National Development Fund (NDF) of Antigua and Barbuda

The National Development Fund (NDF) of Antigua and Barbuda is the most popular and simplest of the four investment options in the Citizenship by Investment (CBI) programme. It is a non-profit government fund established under Section 42(2) of the Finance Administration Act 2006 to raise capital for national development projects, public-private partnerships (PPPs) and approved charitable investments.

The NDF has been part of the CBI programme since its launch in 2013, under the management of the Citizenship by Investment Unit (CIU). The current minimum contribution is $230,000 USD for a family of up to 4 people — raised from $100,000 USD in August 2024. It is a one-time non-refundable contribution. According to public reports, more than 5,200 investors have been granted citizenship through the CBI programme since 2013, creating more than 9,000 new citizens. This article analyses in detail the NDF, contribution levels, the process and the projects it funds.

Detailed article onthe country of Antigua and Barbuda.

Legal framework and transparency

The NDF was established under Section 42(2) of the Finance Administration Act 2006 — the framework law governing government funds in Antigua and Barbuda. The fund operates as a non-profit entity separate from the government’s general budget and is overseen by Parliament through periodic reports.

Transparency requirements applying to the NDF:

• Half-yearly reports to Parliament: detailing income and expenditure, funded projects and the financial position
• Annual independent audit: by a recognised international accounting firm
• Public list of projects: approved and under way
• Reporting to the international community: to partners such as the EU, the United States and the OECS
• Dialogue with international organisations: such as the IMF, the World Bank and PAHO

According to information published on the website ofCIU, transparency is key to the fund’s reputation. Detailed financial reports are published on the official websites of the Ministry of Finance and the Office of the Prime Minister. In 2025–2026, reporting requirements were strengthened following President Trump’s executive order of December 2025.

Contributions and fees

NDF contribution levels are set according to family structure. After the August 2024 reform, the minimum contribution was raised significantly to meet European Union requirements for protecting Schengen visa-free access.

Current NDF contribution structure:

• Single applicant: $230.000 USD
• Family of up to 4 people: $230.000 USD
• Family of 5 or more: $245,000 USD (or $230,000 + $15,000 for each additional person)
• Each additional dependant after the 4th: $15.000 USD

In addition to the NDF contribution, applicants must also pay other fees under theSchedule of Fees CIU:

• Government Processing Fee: $30,000 USD for a family of up to 4 people, $15,000 USD for each additional dependant
• Due Diligence Fee: $7,500 USD for the main applicant and $4,000 USD for each dependant aged 12+
• Interview Fee: $1,500 USD per person aged 16+
• Passport Fee: $300 USD per passport

The total cost for a family of 4 (parents + 2 children under 16) through the NDF option is about $273,000–$285,000 USD, excluding the authorised agent’s service fees (usually an extra 5–15%). This is the lowest-cost option among Antigua and Barbuda’s CBI options.

Features and advantages of the NDF

The NDF option has several important features and advantages over the other options:

• The simplest process: just a one-time contribution, with no long-term asset management
• The fastest processing: 3–6 months, compared with 6–12 months for the real estate option
• No obligation to hold assets: unlike real estate, which must be held for 5 years
• The lowest cost: among Antigua’s CBI options
• Suitable for large families: with a low marginal increase ($15K per additional person)
• Simpler documentation: no detailed due diligence on assets required

However, this option also has drawbacks:

• Non-refundable: the $230,000 USD contribution is gone for good
• No tangible asset: nothing to rent out or resell
• No income: no potential for returns

For investors on a limited budget who have no need to own assets in the Caribbean, the NDF is the optimal choice. For those who want a lasting investment, the real estate option may be more suitable despite the higher upfront cost.

The citizenship application process via the NDF

The citizenship application processunder the NDF option is designed to be simple and transparent. The whole process usually takes about 4–6 months from the start to receiving thepassport.

Step 1: Consult an authorised agent

All CBI citizenship applications must be submitted through an Authorized Agent — there is no direct application route. Applicants need to contact an agent licensed by the CIU. The agent will assess initial eligibility and advise on the most suitable option and expected costs.

Step 2: Prepare the file

The agent helps prepare the necessary documents:

• A valid passport and certified copies
• A birth certificate with an apostille or equivalent certification
• Police clearance certificates from every country of residence for more than 6 months
• Proof of the source of the investment funds
• Bank statements for the last 12 months
• A medical certificate from a local doctor (ruling out communicable diseases)
• 2 ICAO-standard passport photos
• A completed and certified CBI citizenship application form
• Evidence of family relationships (if applicable)

Step 3: Submit the application and initial fees

The agent submits the file to the CIU together with the full due diligence fees ($7,500 for the main applicant + $4,000 for each dependant aged 12+) and 10% of the government processing fee ($3,000 USD for a family of 4). The CIU issues a receipt and starts the due diligence process.

Step 4: Due diligence and interviews

The CIU carries out multi-level due diligence with international due diligence partners. This takes 60–90 days depending on complexity. The main applicant and dependants aged 16+ attend mandatory online interviews in English or through an interpreter.

Step 5: Approval in principle and payment

After passing due diligence, the CIU issues an Approval-in-Principle Letter. The applicant has 30 days to make the $230,000 USD NDF contribution and pay the balance of the government processing fee. The contribution must be transferred to the Government Special Fund — a special government account.

Step 6: Receive the certificate and passports

The CIU issues a Certificate of Registration of Citizenship to the main applicant and all approved dependants. The certificate is sent to the Passport Office for passports to be issued. Applicants must take the Oath of Allegiance in Antigua and Barbuda or at the nearest Embassy/Consulate of Antigua and Barbuda.

Passports are usually issued within 4 weeks of the citizenship certificate. The authorised agent can deliver the passports to the applicant by diplomatic courier to a designated address.

Residence requirements and maintaining citizenship

One of the most attractive features of Antigua and Barbuda’s CBI programme — including the NDF option — is its low residence requirement. CBI citizens only need to spend a total of 5 days in Antigua and Barbuda within the first 5 years after receiving citizenship to keep their citizen status.

This requirement has applied since 2024 — before that there was no physical residence requirement at all. The change was made at the EU’s request to protect Schengen visa-free access. The requirement is still far lower than in countries with traditional naturalisation requirements (5–10 years of residence) and European Golden Visa countries (actual year-round residence).

After the first 5 years, there is no residence requirement to keep citizenship. CBI citizens have the same full rights as citizens by other routes, including the ability to pass citizenship on to children born after the date of citizenship under the jus sanguinis principle.

Projects funded by the NDF

The NDF funds a range of important development projects for Antigua and Barbuda. According to public reports, key projects in recent years include:

• Transport infrastructure: expansion and upgrading of V.C. Bird International Airport, highway projects and improvements to the port of Saint John’s
• Health: modernisation of the Sir Lester Bird Medical Centre and expansion of community health centres
• Education: support for developing the UWI Five Islands Campus (alongside the $80M USD contribution from the Saudi Fund) and upgrades to public schools
• Rebuilding Barbuda: after Hurricane Irma in 2017
• Renewable energy projects: encouraging the shift to solar power
• COVID-19 response: during 2020–2022
• Environmental protection: mosquito eradication, coral reef protection and climate change response

NDF contributions have also supported social programmes, including benefits for vulnerable people, local agricultural development and support for small businesses. The allocation between sectors is approved by Parliament and published in the half-yearly reports.

Comparison with other CBI options

The NDF is one of the four investment options of Antigua and Barbuda’s CBI programme. A comparison of the options helps investors assess the right choice:

• NDF: $230,000 USD contribution + $43K in fees (family of 4) — total ~$273K, non-refundable
• Real estate investment: $300,000 USD + $30K in fees + transaction costs — total ~$345K, can be sold after 5 years
• Business investment: $1,500,000 USD individually or $400K within a $5M joint investment — suited to entrepreneurs
• UWIF: $260,000 USD for families of 6+ — suited to large families

For a standard family of 4, the NDF is the cheapest option. For families of 6 or more, the UWIF may save money. For investors who want to own a tangible asset, real estate is the better choice. Details of the other options are set out in the articleAntigua and Barbuda Citizenship by Investment.

The National Development Fund (NDF) of Antigua and Barbuda — a summary

The National Development Fund (NDF) of Antigua and Barbuda is the simplest and most efficient citizenship by investment option for most individual investors and standard families. The combination of the lowest cost ($230,000 USD), a fast process (3–6 months), simple documentation and no obligation to hold assets makes it especially attractive. The fund’s transparency, through periodic reports to Parliament and international audits, safeguards the programme’s reputation.

For Vietnamese people interested in a second citizenship to diversify residence rights, travel globally or protect assets, the NDF is a suitable starting point. Working through a legitimate authorised agent, preparing the file carefully and being transparent about the source of funds ensures the application is approved within the expected time frame.