Updated: Jun 7
In Greece, in recent years, there has been a system of particularly attracting funding for audiovisual productions. It is the Cash Rebate program (by Ministry of Finance), to which applications can only be submitted by domestic companies (for example by FilmPartner), even on behalf of foreign production companies.
The program accepts applications until December 31, 2025.
The application for affiliation is submitted electronically along with the supporting documents.
The legal beneficiary of the aid may be a foreign undertaking, following a relevant contract with the domestic production company.
To apply for the inclusion of investment projects, a fee is required, the amount of which is set at 0.0005 of the total cost of the expenses requested for financing.
Eligible costs for financing are the costs to produce an audiovisual work, which take place in Greece and do not exceed 80% of the total production cost of the audiovisual work.
Eligible costs shall mean the following:
a. expenses for royalties, such as script, soundtrack.
b. costs for any kind of provision of services directly related to the production of the audiovisual work, such as accommodation and food, travel, equipment rental, studios, post-production services.
c. the wage costs of jobs for the implementation of the investment project.
d. costs of supplying materials.
For the calculation of the total eligible cost of production, the following restrictions shall apply:
a. the premiums and the cost of providing guarantees shall be considered in their entirety, with a maximum eligible cost equivalent to 5% of the total eligible cost of production.
b. the remuneration for script and music rights, as well as the remuneration of the director, the screenwriter, the two protagonists, the producer for all the qualities he holds in the production of the audiovisual work, shall be counted to 35% of the total eligible cost and may not exceed this percentage.
c. expenditure on financial assets, fixed assets, and depreciation thereof, such as technological equipment, land, and buildings, borrowing costs, bank charges, are not included in the total eligible cost of production.
d. marketing, promotion, and communication costs are not included in the total eligible costs of production.
The subsidy rate amounts to 40% of the eligible costs, offering a more flexible framework for the inclusion of TV series (with a minimum of €15,000 to €25,000 per episode for eligible costs). Cumulatively, all episodes can be funded up to €12,000,000.
The aid of the present may be combined with other State aid (Tax Relief), with the limitation that the total state aid granted does not cumulatively exceed 50% of the total cost of production of the audiovisual work.
The grant is paid within two (2) months, from the completion of the relevant completeness check (completion of the project and submission of the necessary documentation) directly, through electronic payment, to a bank account of the entity of the investment project.
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