Support Fund For Tourism And Cinema And The Incentive For Major International Events
Decree-Law no. 45/2018 of 19 June created the Support Fund for Tourism and Cinema ("Fund"), which is represented by the Portuguese Tourism Institute ("Turismo de Portugal"). One of the purposes of the Fund is to grant support to programmes to strengthen Portugal's position as a tourist destination. Against this background, it was acknowledged that one of the ways to boost Portugal's image as a tourist destination would be to attract and put on major international events.
As a result, Order no. 196/2018 of 5 July approved the Regulations on the Incentive for Major International Events through the Fund, which was given an initial funding of 10 million.
Specifically in the area of culture, any events which, because of the international profile they achieve, help to promote Portugal internationally as a tourist destination are eligible for the incentive. The promotors of projects benefiting from the incentive will be public bodies charged with carrying out the projects, or private bodies that have the right to organise the event in question. For this purpose, the promotors must be qualified to carry on the activity in question. They must also be in compliance with their financial obligations, including tax and social security.
For a project to obtain the incentive, it is necessary to demonstrate that it will have a significant impact on Portugal's international profile as a tourist destination, based on providing proof of the geographic scope of publicity for the event, the attendance it achieves and the media recognition of the participants. Among other matters, it will also be necessary to demonstrate that at least 10% of the financing has already been secured.
The evaluation of the projects takes into account the international recognition of the event, the frequency with which it is held in Portugal, its contribution to raising the profile of the country, and the level of exposure in the international media.
Support is provided in the form of refundable incentives (with or without remuneration), non-refundable incentives and mixed incentives. In the case of refundable incentives, the maximum period for...
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