versiones_1Investment in art and culture can be an excellent way to support a sector, the survival and autonomy of which requires large resources.

Patronage can be approached as a private or institutional investment, and often results in the creation of art collections.

The legislation is aware of the need to encourage patronage to give continuity to projects, as well as artistic and cultural movements. For this reason, it is fostered by establishing a series of tax advantages for investors, usually in the form of tax deductions.

Art sponsorship also tries to encourage the cultural sector by gaining indirect benefits that translate into some kind of return for the sponsor. This kind of support is frequently used by big companies and institutions that plan, within their lines of marketing, a system of brand consolidation and the creation of a corporate identity, by investing in areas outside their core business. The rentability that these sponsors seek is usually of an intangible nature, and it aims to create emotional associations within consumers or customers, by linking the brand to activities that have a social or cultural impact.

Thinking about it?

Artworld Law can help you to design a program of patronage and sponsorship in art and culture, and advise one on what the indirect benefits are. These benefits are associated with the development of corporate branding through cultural sponsorship, and the tax regime applicable to these forms of investment.

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