The Portugal’s Cultural Golden Visa program offers the lowest investment amount of €200,000 and government pre-approval, allowing individuals to obtain residency and potentially citizenship in Portugal.
What is the Portugal's Cultural Golden Visa?
The Portugal’s Cultural Golden Visa program, also known as ”Artistic Production” Golden Visa is not widely known or utilized as an investment route mainly due to the absence of specific regulations and challenges around the procedures but is considered one of the more affordable options among the Golden Visa programs available in Europe.
With a minimum investment requirement of €250,000 or €200,000 if its applicable in low-density areas in the Portuguese interior, offers a comparatively lower threshold for investors seeking residency or citizenship through artistic endeavors in Portugal.
For detailed information on the program, you can refer to the guidelines provided by the Portuguese Border and Immigration Service (SEF) available at this link.
Portugal Cultural Golden Visa offers two routes for investors
Artistic Production Support
To qualify for the Artistic Support Funding investor needs to do an investment in artistic production such as a film or musical.
Cultural Heritage Preservation
Alternatively, to qualify for the Maintenance of National Heritage, the minimum amount must be donated to an eligible art foundation or a national heritage foundation.
Artistic Production Support versus Cultural Heritage Preservation
Portugal's Cultural Golden Visa: Law Background
On July 1, 2015, the new law introduced significant changes and outlining new opportunities under the Portugal Cultural Golden Visa program. This law aimed to encourage cultural investments and support the development of the country’s artistic and heritage sectors.
The Portugal Cultural Golden Visa program was established as a means to attract foreign investors who are interested in contributing to Portugal’s cultural landscape and heritage preservation. The program offers two distinct pathways for eligible investors: Artistic Support Funding and Donation to the Maintenance of National Heritage.
Portugal Golden Visa Low Density Areas
Low-density territories, as per the stipulations of Ordinance No. 208/2017, enacted on July 13th, 2017, are geographic regions characterized by specific demographic and economic criteria.
These criteria include having a population density of fewer than 100 inhabitants per square kilometer, signifying that these areas are sparsely populated. Or, a low-density territory is identified as one where the per capita gross domestic product (GDP) falls below 75% of the national average
What makes Portugal's Cultural Production Golden Visa option an attractive choice?
Cost-Effective: It is the most affordable option among Golden Visa routes, starting from €200,000 in low-density areas or €250,000 in any area of Portugal.
Expedited Pre-Approval: Unique among Golden Visa options, it includes a 15-day government pre-approval, providing peace of mind before committing any funds.
Faster Processing: This route offers quicker processing prior to the submission of the immigration application.
Tax Benefits: Film production investments are fully tax-exempt, minimizing financial obligations.
No Additional Costs: There are no maintenance fees or notary fees associated with the film production route.
Citizenship: After five years of legal residency, you may apply for permanent residency or to citizenship. Investing in film production establishes a significant connection to Portugal, which can be advantageous for future citizenship applications.
Family Reunion: You are entitled to bring your family members who are already in Portugal or who will be joining you in Portugal.
Considerations to be aware about the Portugal's Cultural Golden Visa
Limited Track Record: The Portugal Cultural Golden Visa program is relatively new. As a result, there is limited historical data and success stories to gauge its long-term effectiveness and outcomes.
Project Approval Process: Liaising with the Portuguese authorities for project approvals can be a time-intensive process. The evaluation and approval process for cultural projects may take longer compared to other Golden Visa options.
Limited Availability of Approved Projects: The number of approved cultural projects available for investment may be limited, especially in the short term. This could impact the range of options and investment opportunities for applicants.
Processing Delays: While efforts are made to expedite Portugal Cultural Golden Visa applications, processing delays at SEF are known to occur. It’s important to be prepared for potential delays and factor them into your timeline.
Portugal’s Cultural Golden Visa projects
The Serralves Fundation
Established in 1989 through a collaboration between the Portuguese State and a consortium of private entities, the Serralves Foundation operates as an independent organization governed by private law. It holds the status of a public interest institution and functions as a foundation with its own distinct programming. While it operates on a national level, Serralves also boasts an international scope.
The Batalha de Aljubarrota Fundation
The Fundação Batalha de Aljubarrota (FBA) was devised with the intent to value and dignify a part of the Portuguese cultural Heritage associated to the main battlefields in Portugal. Investing in the recovering of the landscape of Battle of Aljubarrota or investing in a film that describes the life of Nuno Álvares Pereira.
The Ricardo do Espírito Santo Silva Fundation
The mission of FRESS is the preservation, dissemination, teaching and research related to heritage and knowledge of the decorative arts.
Museum of Portuguese Decorative Arts, which preserves and promotes the dissemination of the decorative arts and related artworks that make up the museum collection.
Department of Conservation and Restoration dedicated to the field of decorative arts and related know-how, carrying out interventions in movable and immovable heritage at a national and international level.
The D. Luís I Foundation
Established in 1996, the D. Luís I Foundation is responsible for the management and programming of cultural facilities in Cascais. It is a municipal-based foundation open to private contributions.
The D. Luís I Foundation promotes multi-year programs of cultural activities, either proposed by interested parties or in cooperation with other institutions and companies.
The Côa Parque Fundation
The Côa Parque Foundation for the Safeguarding and Enhancement of the Côa Valley was established in 2011 to manage the Archaeological Park of the Côa Valley and the Côa Museum.
Its main objectives are the protection, conservation, research, and promotion of the Art of Côa and other heritage of the Côa Valley, combining the Museum’s attraction capacity with public visits to rock art.
The Portugal's Cultural Production Golden Visa application process
Step 1: The investor chooses one of the projects in which they want to invest. These projects are already approved by the Ministry of Culture as eligible for the purpose of the Golden Visa.
Step 2: The investor’s lawyer requests to GEPAC (Bureau of Strategy, Planning, and Cultural Assessment) the declaration of approval. It expected to be deliver in 15 days.
Step 3: The investor complete and send the KYC (Know Your Customer) form to the selected foundation.
Step 4: The investor transfer the funds from his Portuguese bank account and sends the proof of transfer to the Foundation.
Step 5: After receiving the transfer, the Foundation sends two declarations to the investor: one commitment declaration regarding the investment in the project and one receipt declaration for the investor. They also need to send the proof of receipt from the bank.
Step 6: The investor’s lawyer submits the Golden Visa application to SEF.
Documents required for the Portugal Cultural Golden Visa
Here is the the list of documents required for a successful Golden Visa application:
- Passport
- Tax identification number (NIF)
- Investor commitment statement
- Foundation’s receipt statement
- Commitment statement for the utilization of Foundation funds
- Foundation’s bank document confirming receipt
- Project eligibility proof document
- Investor’s bank statement confirming the transfer
Portugal's Cultural Golden Visa cycle time
During the five-year duration of the Golden Visa program, the applicant will need to renew their visa twice. The 1st renewal is due at the end of year two, after the issuance of the residency card and the 2nd renewal is due at the end of year four.
Here you can find a flowchart for a better understanding:
Why choose us for your Portugal Cultural Golden Visa application?
Local Expertise
We know Portugal. Due to our extensive local knowledge, we believe that concentrating our services in a single country destination is the best way to give you the most thorough and useful information.
Holistic Approach
One single channel of communication for the entire process. We provide you with a comprehensive service that covers all aspects of your investment and Golden Visa application.
Transparent Service
We recommend what’s best for you based on an extensive process experience that saves time and money to clients. Our pricing is clear and competitive, and we don’t sell services that make us more money.
Simple Process
Technology plays a very important role in our company. We minimize our clients’ involvement in paperwork. We are customers ourselves and we know how to serve you.
Frequently asked questions about the Portugal's Cultural Golden Visa
What is the Portugal's Cultural Golden Visa?
The Cultural Golden Visa is a specific category within the Portuguese Golden Visa program that allows individuals to obtain residency and potentially citizenship in Portugal by investing in cultural activities.
What are the investment options for the Portugal Cultural Golden Visa?
The investment options for the Portugal Cultural Golden Visa include supporting the arts, culture, heritage, or preservation projects in Portugal. This can be done through financial contributions or investments in approved cultural activities.
What is the GEPAC?
GEPAC stands for Gabinete de Estratégia, Planeamento e Avaliação Culturais, which translates to Bureau of Strategy, Planning, and Cultural Assessment of the Ministry of Culture.
What is the minimum investment amount for the Portugal Cultural Production Golden Visa?
The minimum investment amount for the Portugal Cultural Golden Visa is €200,000 when invested in a low density area.
What are the benefits of the Portugal Cultural Golden Visa?
The Portugal Cultural Golden Visa offers several benefits, including residency in Portugal, the opportunity to live and work in the country, access to healthcare and education, and potential eligibility for Portuguese citizenship after 5 years.
Is government pre-approval required for the Portugal Cultural Production Golden Visa?
Yes, government pre-approval is typically required for the Portugal Cultural Golden Visa. This ensures that the chosen cultural project or activity meets the criteria set by the Portuguese authorities.
Can family members be included in the Portugal Cultural Golden Visa application?
Yes, family members, such as spouses and dependent children, can be included in the Portugal Cultural Golden Visa application and benefit from the same residency rights.
What are the residency requirements for the Portugal Cultural Golden Visa?
The Portugal Cultural Golden Visa requires individuals to spend a minimum of 7 or more days in Portugal per year.
Can I apply for Portuguese citizenship through the Cultural Golden Visa?
Yes, after holding residency in Portugal for 5 years, individuals may be eligible to apply for Portuguese citizenship, provided they meet the necessary requirements.
