Cultural Golden Visa: A New Opportunity to Invest in Culture

Since property investments became ineligible, the Portuguese Golden Visa market has had to reinvent itself, namely by enhancing other options of investment that met the criteria for the so-called Cultural Golden Visa.

Although it may not have been widely popular option in the past, it is gradually becoming more appealing and gaining traction among investors.

The Golden Visa through investment in the cultural sector is the most affordable option in terms of cost, compared to other equity investment alternatives. This unique cultural investment pathway specifically entails the transfer of capital in an amount equal to or greater than €250,000, to be applied in one of the two possible routes:

  1. Artistic Production Support: There is no-pre approved list of artistic projects to invest in, you must first source a project that fits the governments criteria and then get approval from the relevant Portuguese authorities. It can be an artistic production such as a film production, art exhibition or music festival.

 

  1. Donation to Cultural Heritage Preservation: Consist of a donation to a Portuguese cultural heritage institution, foundation or project. This could support the recovery or maintenance of historical landmarks, archaeological sites, or cultural archives.

The amount may be reduced in 20% when the funding is for projects located in low-density areas of Portuguese territory.

As one of the most affordable programs of its kind, the Cultural Route offers the same well-known benefits of the Golden Visa:

  • obtaining Portuguese Residency Permit;
  • enter Portugal and travel within the Schengen area without a visa;
  • reside and work in Portugal, with a minimum stay of no less than 7 days per year;
  • benefit from family reunion;
  • access to healthcare and education in Portugal;
  • apply for permanent residency or Portuguese nationality after 5 years;
  • potential tax benefits under the new Non-Habitual Residency Program.

 

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.

Although this type of cultural investment is not aimed specifically towards direct financial returns, investors can benefit from indirect advantages, such as privileged access to cultural events and the personal satisfaction of contributing to the preservation of cultural heritage.

 

Feel free to reach out to find out about the available Cultural Golden Visa projects for 2024, eligible foundations and how to apply.

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