The Next Step In International Film Sets
WRITTEN BY GONCALO ROCHA
The next step in International Film Sets: Portugal announce a 30% Cash Refund Incentive Program to Elevate Film and TV Productions.
In a strategic bid to position itself as a prime destination for high-budget film and television productions, Portugal has unveiled a groundbreaking 30% cash refund incentive program. Designed to complement the existing cash rebate scheme, known as the Tourism and Cinema Support Fund (FATC), this initiative marks a significant leap forward in Portugal's efforts to attract top-tier projects to its picturesque landscapes and vibrant locales. Not only do producers get a return on their investments after Filming but governments also aquire tax from lending money and resources to these productions.
Ana Marques, the executive director of the Portugal Film Commission mentions “The cash rebate will be for small and medium-sized productions and the cash refund for productions with higher budgets,”. This dual approach aims to cater to a diverse range of filmmakers while incentivizing larger-scale ventures to choose Portugal as their filming destination.
Under the new program, eligible productions stand to benefit from a generous 30% cash refund on the first €2 million of qualifying Portuguese production expenditure. To qualify, productions must undertake a minimum of €2.5 million in eligible expenses within Portugal. The program operates on a first-come, first-served basis, with a cap set at €6 million for feature films and per season, and €3 million per episode for television series.
In contrast, the existing FATC cash rebate offers a refund ranging from 25% to 30% of qualifying expenditure, contingent upon a cultural test score. Certain qualifying expenses may even be eligible for a refund at a rate of 40%. The FATC rebate requires a minimum qualifying expenditure of €500,000 for fiction works and €200,000 for documentaries and post-production endeavors, with a project cap set at €1.5 million.
The timing of these initiatives couldn't be more opportune, as applications for this year's cash rebate incentive program opened on April 1, 2024, with the window for cash refund applications slated to open soon thereafter. Both schemes are overseen by the Instituto do Cinema e Audiovisual, ensuring transparency and efficiency in the application process.
Recent successes underscore Portugal's burgeoning appeal as a filming destination. Notable productions, such as HBO's highly anticipated "House Of The Dragon" and Netflix's "Damsel," featuring the talented Millie Bobby Brown, have chosen Portugal as their backdrop, further solidifying its reputation as a preferred location for international filmmakers.
By introducing this innovative cash refund incentive programme, Portugal is not only attracting high-budget productions but also nurturing a thriving film and television industry within its borders. With its diverse landscapes, rich cultural heritage, and logistical support from the Portugal Film Commission, the country is poised to emerge as a powerhouse in the global entertainment landscape.
In conclusion, Portugal's bold move to unveil a 30% cash refund incentive program signals its unwavering commitment to fostering a dynamic and competitive environment for film and television production. As filmmakers worldwide set their sights on Portugal's shores, the stage is set for a new era of cinematic excellence in this picturesque European gem.