What is the new Cash Rebate scheme
The implementation of Act No. 4487/2017 for the production of audiovisual works in Greece is a decisive step towards attracting film, television, documentary, animation producers and digital games developing companies to invest in the Greek creative sector. Following an amendment of the law in September 2018, today the rebate amounts to 35% on the eligible expenses incurred in Greece for all beneficiaries. The updated legislation provides a more flexible floor for TV series (starting at €30,000 per episode with a total minimum of €100,000) 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.
Financing of the rebate is guaranteed through the Greek Public Investment Programme and amounts to €75 million available for the years 2018 to 2022.
- A good start
applications may be made for international and domestic productions and/or co-productions. The rebate supports feature films, documentaries, TV drama series, animation films and digital games that choose Greece as location in either principal photography and production development and/or post-production stage.
- A smooth and timely procedure
applications are submitted all year long, no later than 2 months before the beginning of production and/or post-production, via EKOME S.A. to an electronic system guaranteeing smooth, fast and transparent processing.
- And... it's a wrap!
the amount is payable no later than six months after the completion of production works provided that all prerequisites of Act No. 4487/2017 have been met.