Since its inception in 2012, the Portugal Golden Visa program has become one of the most popular residency-by-investment schemes of its kind. It’s part of Portugal’s immigration strategy to attract foreign investments and boost Portugal’s economy.
While there are several investment options available for those pursuing the Golden Visa, such as contributing to an approved fund or creating jobs in the country, a lesser-known route is the Portugal Cultural Golden Visa.
Launched in 2015, it is one of the scheme’s most affordable options, providing another pathway to EU residency for non-EU citizens as Portugal has long been one of the most sought-after locations for expats.
In this article, we’ll explore the Portugal Cultural Golden Visa route, which includes:
Overview of the Portugal Golden Visa
The Portugal Golden Visa program is a five-year residency by investment initiative for non-EU nationals. With it, qualifying investors and their family members are granted the right to live, work, and study in Portugal. The scheme was introduced by the government in 2012 as part of Portugal’s immigration move to boost foreign capital and benefit the Portuguese economy.
The Golden Visa investment program is among the most popular, with investors worldwide making contributions. Since its inception, over 20,000 Golden Passports have been awarded to families worldwide, and over €4 billion in funds have been raised.
The scheme is open to any non-EU, non-EEA, and non-Swiss citizen looking to secure Portuguese residency in exchange for investing in the country. The most popular pathway has historically been the real estate investment route, which has accounted for more than 90 percent of all Golden Visa applications.
However, a new law was passed regarding the Golden Visa, and as of October 2023, it is no longer possible to invest in real estate to qualify for the program. While real estate and capital transfers no longer qualify, there is a range of investment opportunities available:
- Fund subscription: Make a contribution to Portuguese investment funds (such as private equity funds or venture capital funds) worth at least €500,000
- Investment or donation in the arts or reconstruction of national cultural heritage with a donation of at least €250,000
- Scientific research: Science or Technology research contribution of at least €500,000
- Creation of ten jobs: Creation and maintenance of ten jobs during the required period
- Share capital and job creation: Venture capital funds for a commercial company in the national territory or reinforcement of a company’s share capital. This company must have its head office in the national territory. The minimum investment of €500,000 is combined with the creation of five or maintaining ten jobs (five of them permanent).
The minimum investment amounts for options 2 and 3 may be reduced by 20% when the investment activity is carried out in low-density areas. These regions have fewer than 100 inhabitants per square kilometer or GDP per capita of under 75% of the national average.
The Portugal Cultural Golden Visa
Any investor with a love for arts and culture might choose to invest or donate to the arts or the reconstruction of a national cultural heritage rather than creating 10 jobs or going through a fund subscription.
Through this avenue, the Portugal Cultural Golden Visa affords the applicant the same rights and privileges associated with the other investment options.
Launched in 2015, it is one of the most affordable options of the scheme to acquire a residence permit, as it only requires a €250,000 investment – which can be reduced to €200,000 if the cultural production takes place in a designated low-density area.
The Cultural aspect of the Golden Visa is divided into two subcategories, and all projects or future investments must be approved by GPAC (Office of Cultural Strategy, Planning and Availability):
1. Artistic production funding: Channel your investment into Portugal’s cultural or artistic endeavors. An artistic production investment could involve funding theater shows, concerts, exhibitions, or literary events.
2. Cultural heritage donation: Contribute to the restoration and protection of historical landmarks, archaeological sites, or cultural archives through a donation (fewer than 100 people per square kilometer or an average per capita gross domestic product that’s lower than 75 percent of the national average)
Artistic production funding
This could involve investments in artistic endeavors like film production, theater, music, dance, and visual arts. For example, supporting the creation of a local film or providing funds for a performing arts production would fall under this category. Portugal also has a rich calendar of cultural events such as film festivals, music festivals, literary fairs, and more.
Artistic production funding can be used to sponsor or fund these events, which often promote both traditional and contemporary Portuguese culture to a global audience. The term also covers investments in Portugal’s broader creative industries, such as design, media, literature, fashion, and other sectors that contribute to the country’s cultural fabric. Funding in this area supports innovation and helps cultivate talent in these fields.
Some institutions that require funding are:
- Cascais Opera
- Fundação Calouste Gulbenkian, which hosts contemporary art exhibitions, cultural events, and concerts.
- Fundação Ricardo do Espírito Santo Silva, a cultural and educational institution that focuses on preserving and promoting Portuguese artistic and craft traditions.
Cultural heritage donation
Donations to museums, galleries, theaters, or cultural centers can help maintain or enhance their programs and collections. These institutions are essential for preserving Portugal’s cultural history and promoting ongoing artistic expression.
Cultural production funding may also include contributions to the preservation and restoration of historically significant monuments, buildings, or artworks. Such efforts ensure that cultural landmarks remain accessible and in good condition for future generations.
As an example, there are a few ongoing projects listed on GPAC that would qualify for “Residency Authorization through Investment Activity” – meaning the Golden Visa and a sizable investment. Some of these approved projects are:
- The reconstitution of the landscape on the battlefield of Aljubarrota to what it was in 1385, and the subsequent carrying out of archaeology work.
- The restoration and exhibition of Asian musical instruments at the Oriental Foundation.
- The conservation of the car collection at the Museu do Caramulo, an exhibition on the Second World War, and the respective creation of a historical center.
- Investing in the creation of an “Art in the Park” at the Serralves Foundation.
Comparing the Artistic Production Route with Other Investment Options
Below, you can find a table comparing the three Golden Visa options: The artistic production route, cultural heritage, and the fund investments route.
ARTISTIC PRODUCTION Investment in an artistic project | PRESERVING CULTURAL HERITAGE Non-refundable donation to a foundation of heritage and cultural significance | INVESTMENT FUND Subscribe to an investment fund | |
Minimum investment amount | €250,000 | €250,000 | €500,000 into a qualified investment fund (more info about the Portugal Golden Visa investment fund route) |
Minimum investment term | 5 years | 5 years | 5 years |
Government pre-approval | Yes | Yes | No |
Application submitted by government entity | No | Yes | No |
Expected time for issuance of residency card by AIMA | 12-18 months | 12-18 months | 12-18 months |
Family eligibility | Yes | Yes | Yes |
Path to citizenship after 5 years | Yes | Yes | Yes |
Minimum days required in Portugal to maintain residency | Total of 14 days every two years | Total of 14 days every two years | Total of 14 days every two years |
Why choose the Cultural Golden Visa option?
Acquiring a Golden Visa through a cultural heritage donation provides significant benefits to Portugal’s arts and culture, fostering preservation and growth in key areas of the country’s identity.
By contributing to the conservation of historical landmarks, museums, and artistic institutions, donors help protect Portugal’s rich cultural history, ensuring that future generations can experience its architectural and artistic heritage.
This investment supports restoration projects, revitalizing ancient buildings and monuments, and enables the funding of contemporary cultural initiatives that celebrate Portuguese creativity.
Beyond preservation, donations stimulate the local arts scene by funding exhibitions, artistic residencies, and cultural festivals, which help promote Portuguese artists on an international scale. This financial support can also assist smaller, local cultural organizations that may struggle with funding, giving them the opportunity to grow and innovate.
Such contributions have a long-term ripple effect, attracting tourism and international attention to Portugal’s cultural assets, thereby boosting the economy and solidifying the country’s reputation as a center for cultural excellence. Overall, the Golden Visa cultural donation route not only benefits the donor but also helps sustain and promote Portugal’s artistic and cultural vibrancy.
Furthermore, securing a Golden Visa through this route grants residency rights for yourself and your family, with access to quality healthcare, education, and travel across the Schengen Area. After five years, you can apply for permanent residency or citizenship, enjoying the full benefits of living in a vibrant and historically rich European nation.
Portugal Cultural Golden Visa Benefits
The biggest selling point of the Cultural Golden Visa Portugal is that it is the most affordable option, and your investment will help promote Portuguese art and national heritage. Additionally, the Cultural Production Golden Visa has the following advantages:
- Pre-approval by an official entity
- Fastest Golden Visa in only eight months
- Full Associate Producer status in film production credits and invitations to exclusive premiere and shoot locations if you invest in this kind of project.
- The potential scope for an early return of capital
- Possibility for permanent residency and Portuguese citizenship after five years
- You can include your family members (including your spouse, dependent children, and parents over 65) in the application
To secure citizenship, you must fulfill all the requirements under Portuguese nationality law, including having a clear criminal record and passing a basic Portuguese language test.
You will also need to hold your investment for five years and stay in the country for a minimum period. The requirement is to spend a minimum period of seven days in Portugal in the first year, then a subsequent 14 days in the following two-year periods.
The Cultural Golden Visa Application Process
The timeline for the cultural Golden Visa is as follows:
- An eligible entity and investor are interested in a project that has a solid maintenance capacity for a five-year period.
- The project is submitted for approval before GEPAC (Bureau for Cultural Strategy, Planning and Assessment of the Ministry of Culture).
- GEPAC forwards the project to the Minister of Culture, which has ten working days to assess the project and decide whether the project is eligible.
- If the project is eligible, the investor proceeds with the investment and forwards the proof of the transfer document to GEPAC, plus other documents required to prove the investment (such as identifying the investor who transferred the funds, its representant when applicable, the declaration from the beneficiary entity, the transfer of money from a foreign bank account to a Portuguese bank account, etc.).
- GEPAC issues a declaration that will be submitted in the Portuguese Golden Visa application proving that the investment has been made. This will be used before AIMA (which is the Portuguese immigration service provider).
New Social Investor Visa Portugal
The recently elected Portuguese Prime Minister, Luis Montenegro, announced an Action Plan for Migration on June 3, 2024, which is set to transform Portugal’s immigration framework.
A notable change involves the Portugal Golden Visa introducing the New Residence Permit for Solidarity Investment, also known as the Social Golden Visa. This initiative aims to channel private capital into social investment for immigrant integration projects.
This includes investments in reception infrastructure, integration projects, and support for vulnerable immigrants.
The Government views this residence-by-investment program as a tool for the Migration Plan and the “Build Portugal” Plan, suggesting a new Golden Visa option through investment in affordable housing projects.
While specifics and timings of this new Golden Visa option are speculative, it seems promising yet potentially challenging in terms of implementation and attracting significant investment, similar to the current Golden Visa cultural investment option.
Who are we, and how can we help you?
Global Citizen Solutions is a boutique residency and citizenship-by-investment company focused on finding the right investment, citizenship, or residency program for individuals worldwide. We work solely on behalf of our clients throughout the application process, ensuring an easy and hassle-free journey to your desired destination. While our core operations focus on helping you with the process, we offer peripheral direct administration services to help you gather the necessary paperwork for your application.
With offices worldwide and an experienced, hands-on team, get in touch today to see how we can understand your objectives and help you have a successful Golden Visa application.
Frequently Asked Questions about the Portugal Cultural Production Golden Visa
How can I find eligible artistic or cultural activities for Portugal's Golden Visa program?
There is only one entity that can provide the certificate confirming a cultural production Golden Visa: GEPAC (Bureau for Cultural Strategy, Planning and Assessment of the Ministry of Culture).
We recommend working with experts in the field to understand whether an artistic or cultural heritage activity is eligible for the Portuguese Golden Visa.
Why is the Cultural Golden Visa in Portugal getting so much attention lately?
With the discontinuation of the real estate investment and capital transfer routes for the Portuguese Golden Visa program in 2023, the Cultural Golden Visa option has gained attention from investors hoping to secure residency in Portugal.
Another reason is that the Portugal Cultural Production Golden Visa option is one of the most cost-effective ways to gain residency in Portugal through investment, starting at €200,000 in low-density areas.
What is the Portugal Cultural Golden Visa?
The Portugal Cultural Golden Visa is a residency permit granted to foreign citizens who invest in Portugal’s artistic and national cultural heritage.
There are two options for the Portugal Cultural Golden Visa:
- Cash Donation, give €500,000 or more to the art acquisition fund.
- Investment in Culture: Invest at least €250,000 into artistic production, exhibition, or preservation of cultural heritage.
Compared to other investment options, it offers a more affordable entry point into the Portuguese Golden Visa program.
Who is eligible for the Portugal Cultural Golden Visa?
To be eligible for the Portugal Cultural Golden Visa, you must be a non-EU/EFTA citizen with a clean criminal record.
There is no minimum income requirement, but you will need to make a qualifying investment in Portuguese art, national heritage, or cultural production.
What are the benefits of the Portugal Cultural Golden Visa?
The benefits of the Portugal Cultural Golden Visa include visa-free travel within the Schengen Area, the possibility of applying for Portuguese citizenship or residency after five years, and the chance to live and work in Portugal with family members you include your application.
Does Portugal's Cultural Golden Visa provide a path to permanent residency or citizenship?
Yes, Portugal’s Cultural Golden Visa can provide a clear path to obtaining residency and, eventually, citizenship. Here’s the breakdown:
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Residency: The Cultural Golden Visa is a residency permit. After fulfilling the investment requirements and meeting residency obligations (an average of at least 7 days in Portugal per year for the first two years), you can apply for permanent residence.
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Citizenship: Portugal offers citizenship after five years, with fulfillment of certain criteria such as a language test.
So, while the Golden Visa itself is a residency permit, it can be a stepping stone to permanent residence and, ultimately, Portuguese citizenship.
What is the duration of Portugal's Cultural Golden Visa, and can it be renewed?
The Portugal Cultural Golden Visa itself doesn’t have a set duration like a traditional visa. Instead, it functions as a residency permit with a renewal process.
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Initial permit: The initial Golden Visa residence card is valid for two years.
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Renewals: You’ll need to renew your residence permit twice during the five-year Golden Visa program.
- The first renewal happens at the end of year two.
- The second renewal occurs at the end of year four.
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Minimum Stay Requirement: To maintain your Golden Visa status, you only need to spend a minimum of seven days per year in Portugal on average.
So, while the Cultural Golden Visa program itself is technically ongoing for five years, your residency permit requires renewals every two years.
What are the opportunity costs involved in Portugal's Cultural Golden Visa?
Portugal’s Cultural Golden Visa offers residency for a low €200,000 investment (in low density areas), but there are trade-offs in terms of opportunity cost.
This is effectively a sunk cost, as you’ll miss out on potential returns from investing elsewhere, and the money might be tied up in the project.
While you don’t need direct involvement, you could sacrifice the satisfaction of being actively involved in cultural endeavors.
If Portuguese residency and supporting cultural projects are your priorities, this visa could be ideal. If maximizing returns is key, explore other Golden Visa options.
Can holders of the Portugal Cultural Golden Visa work or study in Portugal?
Yes, holders of the Portugal Cultural Golden Visa can work or study in Portugal. The visa itself doesn’t require the holder to do either.
There are other benefits to the visa besides residency, such as visa-free travel within the Schengen Area and the possibility of applying for Portuguese citizenship or residency after five years.
What documentation is required for a Portugal Cultural Production Golden Visa application?
A Portugal Cultural Golden Visa application requires documentation proving your financial capacity (bank statements etc.) and the chosen cultural project’s details (description, budget). Most importantly, this project needs approval from DGArtes or Instituto de Conservação e Restauro. Personal documents like passports, birth certificates, and police clearances are also needed. Consider consulting an immigration lawyer for the latest requirements and project approval guidance.
