FILMING IN GREECE - 40% CASH REBATE
The implementation of Law 4487/2017 was a decisive step towards attracting investment through the production of films, television series, documentaries, animation, and digital games in Greece.
The updated legislation (Law 4704/2020) raises the cash rebate to 40%, provides a more flexible floor for TV series (€15,000-€25,000 per episode), a new minimum for digital games (€30,000), and includes documentaries (€60,000) and short films with a minimum of €60,000, while projects are financed without a cap (the higher the investment capital, the higher the cash rebate).
Furthermore, the Greek cash rebate can now serve as 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. From April 2018 to September 2020, 86 applications have been included in the cash rebate programme (43 domestic and 43 international productions). The total of invested capital in the country amounts to €90 million while the total cash rebate subsidy amounts to €30 million.
The cash rebate for the audiovisual industry in Greece is administered by the National Centre of Audiovisual Media & Communication (EKOME S.A.)
What is eligible for cash rebate
The cash rebate for audiovisual works production supports feature films, documentaries, television series, animated films and digital games that choose Greece as location in either principal photography and production development and/or post-production stage. The rebate does not apply to music concerts, recorded performances, sports events and shows, reality shows, recorded events, commercials, infotainment shows etc.
Who is eligible for the cash rebate?
Eligible to apply for cash rebate in Greece are companies which are established or have a branch in the Greek territory and operate in order to produce audiovisual works, foreign producers of audiovisual works who are contracted with a company established or having a branch in Greek territory and operating for the purpose of producing audiovisual works and companies for the production of audiovisual works in the context of cross-border production.
Important Note: Applications should be submitted only by the Greek partner company. However, beneficiary and applicant may not necessarily coincide. Namely, a beneficiary may be the Greek producer, co-producer or production service provider, or their foreign partner.
When is the cash rebate payable?
The cash rebate is paid to producers no later than six months after the completion of the production and/or post-production in Greece, provided that all prerequisites of the legislation have been met.
Application no later than 10 days before the beginning of production and/or post-production of the work in Greece.
The amount is payable no later than six months after the completion of production works provided that all prerequisites of laws No. 4487/2017, No. 4563/2018 and No. 4704/2020 have been met.
We can offer our Film and TV production services as well as help with the Greek authorities for the 40% cash rebate scheme.