DATE: 02 / 04 / 2024
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NEWS // Portugal Creates Cash Refund for High-Budget Films and Series
DATE:
This month, Portugal has unveiled a 30% cash refund incentive to attract higher-budget film and TV productions.
This cash refund is in addition to the existing cash rebate of 25% – 30%, known as the Tourism and Cinema Support Fund (FATC).
Administered by the Instituto do Cinema e Audiovisual (ICA), the Portuguese national film agency, these incentives aim to establish Portugal as a premier filming destination.
The goal is to integrate productions organically with Portugal’s rich heritage and diverse landscapes, while providing a boost to the local film industry and economies.
Below we outline the two different opportunities available.
CASH REBATE (2018 – Present)
- Applies to Film, Audiovisual and VOD Productions: National, Foreign and Co-Productions.
- Incentive is aimed at small to medium sized productions.
- Support rate of 25-30%, on qualifying Portuguese expenditure.
- Percentage is determined by a ‘Cultural Test’ – focusing on the characteristics of the project.
- Minimum expenditure in Portugal: € 500,000.00 for fiction or animation projects | € 250,000.00 for documentary or post-production projects.
- Allocation on a first come first served basis.
- Two calls per year – projects are selected by decreasing order of classification in the cultural/production test.
- Payments made in advance and in installments.
- Annual allocation for the cash rebate – €14mil.
- Maximum incentive allocated per project – €1,5m.
CASH REFUND (Est. April 2024)
- Addition of a second scheme, aimed at larger budget productions.
- The schemes cannot be combined.
- Applies to Film, Audiovisual and VOD Productions: National, Foreign and Co-Productions.
- Cash Refund of 30% on the first €2m of qualifying Portuguese expenditure, for productions that carry out at least €2.5m of eligible expenses in Portugal.
- Allocation on a first come first served basis.
- Maximum incentive allocated per feature film or series season – €6mil.
- Maximum incentive allocated per episode – €3m.
- Annual allocation for the cash refund – €20mil.
- Payments made on completion of project.
With its stunning backdrop, skilled crew, world-class facilities, and now powerful financial incentives, Portugal is poised to become one of Europe’s brightest film-making hubs.
Applications for this year’s cash rebate incentive opened on April 1, 2024 while the window for the cash refund applications will open soon.
Interested in filming in Portugal? Get in touch: connect@stage5films.com
References and further reading:
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