Incentives for Foreign Producers
The aim of the Department of Modern and Contemporary Culture is to promote Cyprus as an ideal location for film production, as well as to promote Cypriot films both domestically and abroad. Their stand can be found each year at the International Short Film Festival of Drama, the Thessaloniki International Film Festival, the Cannes International Film Festival, the Berlin International Film Festival, the Clermont International Short Film Festival and the Annecy International Animation Film Festival.
The Department, through ongoing studies and the development of measures and incentives, aims to methodically broaden cinema activity on the island, to attract foreign film productions and to maintain the interest of private companies and investors, both foreign and domestic, to invest in the audiovisual sector. For more information, please view our Film Production Support Program.
Cash Rebate and Tax Credit Incentives
Foreign production companies that opt to film in Cyprus may be eligible to choose between cash rebate (up to 40%) or tax credit (up to 50%) and can also benefit from tax discounts on investments (up to 20%) made on equipment and infrastructure, and VAT returns on expenditure in scope.
For more information visit: https://www.investcyprus.org.cy/