The Portuguese Film and Audiovisual Institute (ICA) and the Centre National du Cinéma et de l’Image Animée (CNC) signed in Cannes a new three-year agreement concerning the Portuguese-French co-production fund launched in 2014.
Cultural investment allows obtaining a Residence Permit for Investment (ARI /Golden Visa).
The general rules governing the granting of Residence Permit for Investment (ARI / Golden Visa), in force from 8 October 2012, enable third country nationals to obtain a temporary residence permit to conduct business activities with visa waiver to enter national territory.
The specific rules applicable for the issuance, by GEPAC, of the declaration attesting the effective transfer of capital for the purposes of ARI in the field of Culture, have now been established. The Portuguese Office of Strategy, Planning and Cultural Assessment (GEPAC) is responsible for the certification of such investments.
The Regulation of the Tax Incentive for Film Production is already in full force.
The Tax Incentive for Film Production was created by Decree-Law No. 22/2017, of February 22 and offers a refundable tax credit (corporate income tax) of 20% to 25% of the costs of production in Portugal, depending on the characteristics of the project.