NICOSIA: Cyprus has launched a new government scheme that will provide producers with incentives, cash rebates and/or tax credits of up to 35% on qualifying production expenditure. Tax allowances of 20% for investment in infrastructure and equipment are also planned.
Investors will also receive continuous support concerning permits and importing and exporting equipment. A continuous flow of information will be available during film production.
The Cyprus Investment Promotion Agency (Invest Cyprus) announced that foreign and local film industry professionals are now eligible to be part of the scheme. Special cultural criteria must be met to qualify.
Application forms and more information about the scheme can be found on Film in Cyprus.