Derry will join Sheffield, Norwich and Birmingham in bidding for the title.
The four cities now have until 28 May to develop and submit their full and final bids with the winning city due to be announced in June.
The aim of the UK City of Culture is to build on the success of Liverpool, who won the European Capital of Culture in 2008.
It is expected that the successful city would see economic and social benefits which could leave a lasting legacy.
The winner could host events such as the Turner Prize, BBC Sports Personality of the Year and the Brits.
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