The implementation of the cash rebate system for the production of audiovisual works in Greece is a decisive step towards attracting film, television, documentary, animation producers and digital games developing companies to invest in the Greek creative sector.
The Greek cash rebate amounts to 35% on the eligible expenses incurred in Greece for all beneficiaries. Producers will have access to state aid once they pass the cultural test and spend at least €100,000 in the case of feature films or documentaries and €60,000 in the case of digital games in eligible expenses in Greece. Moreover, the updated legislation provides a more flexible floor for television series, starting at €30,000 per episode, with a minimum of all eligible expenses at €100,000, while projects are financed without a cap. The cash rebate will be available to producers no later than six months after the completion of production, provided that all prerequisites of the law have been met.
The cash rebate for the audiovisual industry in Greece is administered by the National Centre of Audiovisual Media & Communication (EKOME S.A. www.ekome.media).
Financing of the rebate is guaranteed through the Greek Public Investment Programme and amounts to a total of €75m available for the years 2018 to 2022.
What is eligible for cash rebate?
The cash rebate for audiovisual works production supports feature films, documentaries, TV drama 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 commercials, reality TV shows, TV games, sports or current affairs shows.
Applications may be made for international and domestic productions and/or co-productions to obtain a 35% cash rebate on the sum of eligible expenses incurred in Greek territory.
Who is eligible for the cash rebate?
Eligible to apply for cash rebate in Greece are undertakings 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 an undertaking established or having a branch in Greek territory and operating for the purpose of producing audiovisual works and undertakings 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.
The Greek cash rebate can now serve as a collateral for producers to obtain funds through the Greek banking system (please consult www.ekome.media)
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 law have been met.
|Type of aid
|The rebate can be combined with other aid schemes provided that total state financing shall not exceed:
– 50% for domestic productions or co-productions
– 60%, in case of cross-border productions with EU members
– 70%, in case of “difficult” audiovisual works as defined in Law No. 4487/2014
* EU funds (EURIMAGES or MEDIA) are not included in the above maximum rules
|Minimum amount of eligible expenses:
€100,000 for feature films/ documentaries
€60,000 for digital games
€30,000 per episode for TV series, with a minimum of total eligible expenses at €100,000
|Application no later than 2 months before the beginning of production 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 and No. 4563/2018 have been met.
|Cultural test||Applications are considered on a cultural test point-system basis, according to the type of audiovisual work. More specifically, for:
Fiction and documentaries: at least 20 out of 50 points should be met.
Animation: At least 16 out of 40 points should be met.
Difficult work: At least 10 out of 20 points on top of the above.
|Application Process/ Deadlines||Applications are submitted via an electronic system guaranteeing smooth, fast and transparent processing.
Applications may be submitted via EKOME S.A. and processed all year long.
EKOME S.A. – National Centre of Audiovisual Media and Communication www.ekome.media
firstname.lastname@example.org / T+30 214 4022 500
email@example.com / T+30 214 4022 503