June 18, 2021 - Comments Off on Arts & Cultural Heritage – First Golden Visa issued to EDGE client
We are proud to announce that one of our clients has become the first investor to obtain residency in Portugal through the Golden Visa category of Arts and Cultural Heritage. Our client selected to make a generous donation to the renowned Serralves foundation and has just recently seen his residency application fully approved by the Portuguese Immigration Services.
EDGE worked closely and in strong cooperation with Fundação Serralves and with GEPAC, the Department of the Ministry of Culture in charge of these matters, in the effective and practical implementation of this investment option. In fact, although this investment option exists within the Golden Visa programme since 2015, the absence of specific regulations and challenges around the procedures caused that only now the first investor in this category has obtained residency.
We believe that this approval is only the first of many to come and we are already working with more investors that have selected to make donations to different institutions in Portugal as a way to obtain their residency through the Golden Visa programme.
The Golden Visa programme establishes since 2015 that residency is granted to investors that transfer € 250,000 towards "...investment or support to artistic production, recovery or maintenance of national cultural heritage... ". In the event the entities that carry out such activities are located in low density income/population areas, the investment amount is reduced by 20% to € 200,000
Edge International Lawyers