Greek cash rebate reaches 35%
Following the success of the investment incentive for audiovisual works the Greek cash rebate has been raised to 35%
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WHAT IS EKOME
National Centre of Audiovisual Media and Communication
The National Centre of Audiovisual Media and Communication – EKOME S.A. was founded by Law 4339/2015 of the Ministry of Digital Policy Telecommunications and Media. It is a legal entity operating under private law and supervised by the Ministry of Digital Policy, Telecommunications and Media, with a mission to foster and promote public and private initiatives, foreign and domestic, in all sectors of the audiovisual industry. The creation of EKOME addresses modern challenges in the audiovisual market, mainly in audiovisual production but also in education, research and archives digitisation.
A REGULATORY FRAMEWORK FOR THE SUPPORT OF PRODUCTION OF AUDIOVISUAL WORKS IN GREECE
FOUNDED IN 2017
CREATIVE
HUB
HUB
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SERVICES & SECTORS
EKOME supports the audiovisual sector by
INVESTING
Investing in the production of audiovisual works
in Greece, through the provision of investment incentives (35% cash rebate scheme Law No.4487/2017).DIGITISING
Preserving the audiovisual heritage
through the digitisation of archives (public and private entities, natural and legal persons).EDUCATING
Developing audiovisual and digital education
and communication (media intelligence, youth education, training of professionals).No 4
THE GREEK CASH REBATE
EKOME welcomes the Greek Cash Rebate
In August 2017, the Greek Parliament adopted a Law of the Ministry of Digital Policy, Telecommunications and Media (Law No. 4487/2017) introducing a cash rebate scheme covering eligible costs for national and international audiovisual productions. In September 2018 the Law was amended and today the Greek cash rebate amounts to 35% on eligible expenses incurred in Greece. The updated legislation provides a more flexible floor for TV series (starting at €30,000 per episode) and a new minimum for digital games (€60,000) while projects are financed without a cap. Furthermore, the Greek cash rebate can now serve as a collateral for producers to obtain funds through the Greek banking system.
Who
MAY APPLY/PARTICIPATE
Undertakings established or having a branch in the Greek territory, operating to produce a/v works, foreign producers of a/v works contracted with an undertaking established or having a branch in Greek territory and operating for the purpose of producing a/v works and undertakings for the production of a/v works in the context of cross-border production.
How
TO APPLY
Applications are submitted all year long, via EKOME through an electronic system guaranteeing smooth, fast and transparent processing and are processed all year long. Applications are accepted no later than 2 months before the beginning of production or post-production.
Why
APPLY/PARTICIPATE
Financing of the rebate is guaranteed through the Greek Public Investment Programme and amounts to a total of €75m available for the years 2018 to 2022. The amount is payable no later than six months after the completion of production works provided that all prerequisites of Law No. 4487/2017 have been met.
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