Golden Visa through the cultural option at this moment is restricted to pre-approved projects by the competent entity.
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What is the process of making a cultural contribution in order to get the Portuguese golden visa?
Specifically, can I get a letter from the institution that I plan to make a donation to in order to be able to transfer the money from my hometown? Does the government potentially provide such document?
Answers
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The artistic or cultural project to invest in needs to be selected from a list of eligible projects by the government. The funds must first be transferred from your foreign bank account to a Portuguese bank account from which the investment will be made. Once the investment has been made, the government will issue a statement proving the investment so that you can apply for your Golden Visa.
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The cultural Golden Visa application process is as follows: An eligible entity and investor are interested in a project. The project must have a solid maintenance capacity for a five-year period. The project is submitted for approval before the Bureau for Cultural Strategy, Planning, and Assessment of the Ministry of Culture (GEPAC). GEPAC forwards the project to the Minister of Culture, who has ten working days to assess the project’s eligibility. If the project is deemed eligible, the investor completes their investment, sending proof of the transfer document to GEPAC. The investor should also forward other documents required to prove the investment, such as documents identifying the investor who made the transfer, the declaration from the beneficiary, proof of the transfer of money from a foreign bank account to a Portuguese bank account, etc. GEPAC issues a declaration that is submitted in the Golden Visa application, proving the investment has been made. This will be used before SEF. After the investment is completed, the investor is provided with a declaration from the beneficiary.
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The investment through the cultural contribution, under the terms of art. 3, al.d), vi) of DL. no. 23/2007, of July 4, works with a transfer of capital in the amount equal to or greater than € 250,000. For this type of investment, you must demonstrate that you have made the investment in the minimum amount required, and may do so individually or through a sole proprietorship by shares of which you are the partner. You must submit the following documents: Statement from a credit institution authorized or registered in national territory with the BP, attesting to the international transfer of capital in the amount equal to or greater than 250 thousand Euros to a bank account of which you are the holder; declaration issued by the Office of Cultural Strategy, Planning and Evaluation, after having heard the Department of Culture with attributions over the sector, attesting the effective transfer of capital. If the investment is made through a sole proprietorship by quotas: certificate of the commercial register, which shows that the Applicant is the partner. According to art. 6 and art. 10 of Order No. 2360/2017, of March 20, you must submit the application to GEPAC (Office of Strategy, Planning and Cultural Assessment) for prior assessment of the action in question. GEPAC will forward the request to the Minister of Culture competent in the area for which the support is intended, and this assessment is made within a maximum of 10 working days, after which it is sent back to GEPAC. Once the activity to be supported is confirmed by GEPAC, the support can then be made by bank transfer to the entity responsible for the activity. After the support (which must be made by a single donation), you must then request from GEPAC the statement proving the bank transfer to the entity that was the target of the competent body's assessment. GEPAC, if it verifies that all the required documentation is in compliance, will issue the declaration indicated above. Pursuant to article 12 of the aforementioned Order, beneficiary entities must keep an updated map of the initiatives that may be supported organized and accessible for consultation by potential interested parties. GEPAC must be informed of the map, whenever it is updated. GEPAC will publish the list of initiatives eligible for support on its website, in accordance with the updated information provided by the beneficiary entities.
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