Tag Archives: incentives

The 40 % incentive is now even more attractive to animation and postproduction

Minimum expenditure required is brought down

In Tenerife, international feature films, series or animation productions can enjoy 40 % tax deduction. To be eligible, animation productions or films post-produced on the Island need only spend a minimum of 200,000 euros, instead of one million euros required up till now, which still applies to the rest of Spain. This major cut is included in Law 8/2018, of 5 November on the modification of the Canary Islands Economic and Tax Regime.

What are the basic requirements for international productions to benefit from the 40% incentive? First of all, the total budget has to amount to two million euros and a local production company to provide production services must be hired. If the film is shot on the island, a minimum of one million euros expenditure is required. However, if it is an animation production or only post-production is carried out on the island, the minimum amount required goes down to 200,000 euros. There is a wide range of eligible expenditure for shoots including all that related to the production of the film, from screenplay, first location scouting to editing and final cut. Lists of eligible expenditure for shoots and for animation are available.

There are plenty of excellent local production companies for this type of projects. Learn about them on the Film Commission’s professional directory. To find out more about tax incentives for film production in Tenerife, please see our film commission’s website.

 

More info:

film@webtenerife.com

+34 647 346362

www.tenerifefilm.com

 

Studio Indie Capital Partners offers tax rebate management and financing

 

The company has opened an office in the Canary Islands to attract productions and offer the tax benefits available in the region

Studio Indie offers production and post-production services through their three lines of business: Studio Indie Production, Studio Indie Service, and Studio Indie Capital Partners.

 

In 2015 several film companies and professionals joined together to set up Studio Indie, a film consortium based on the Canary Islands with the aim of attracting national and foreign productions that wish to benefit from the tax advantages offered by the Canaries tax regime.

The partners at Studio Indie are Babieka and Kanzamán, production and service production companies respectively; Cinelab, experts in post-production and technological solutions; and Jesús del Cerro, director and producer with wide experience in film and television production.

Why choose Studio Indie?

International presence: Studio Indie has offices in Spain, Romania, France, Morocco and Monaco among other countries. Studio Indie attends all the national and International film markets and festivals.

Funding: in Studio Indie “we are part of your project”. They get involved in the funding and co-investment thanks to the tax breaks available in the Canary Islands. They manage the TAX REBATE and EQUITY FUND. They are also present in very competitive production areas like Romania.

Experience: their partners include companies with wide experience in film and television international productions who have been working for over twenty years.

References:

-“Uruguay” 2016. Director: Jesús del Cerro (Studio Indie). Producer: Actoire du Film

-“Cold Skin”. 2015. Director: Xavier Gens. Producer: Babieka

-“Far From Here”. 2015. Director: James Pillon. Producer: Studio Indie

-“Pregnant in Romanía”. 2015. Director Jesús del Cerro. Producer: Studio Indie

-“The Second Best Exotic Hotel Marigold” (2014). Producer: Babieka.

-“Tomorrowland” (2014). Director: Brad Bird. Producer: Babieka

-“The Dictator” (2012).Director: Larry Charles. Production Services: KANZAMAN

-“Greenzone” (2010). Director: Paul Greengrass. Production Service: KANZAMAN.

Studio Indie Capital Partners has been a member of Tenerife Film Commission since February 2016.  With the several projects in progress on the Islands right now we wish to position ourselves as the benchmark for film production in the Canary Islands in the future.

Studio Indie Capital Partners

Tel: +34 661 490 352

Mail: luisfanjul@studioindie.com

C/ Méndez Núñez, 52 – 2º izda. 38002 Santa Cruz de Tenerife, Islas Canarias

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