Russia launches Cash Rebate production support incentives for foreign film companies
Cash Rebate is a reimbursement of a portion of the costs incurred by a film company during filming in a certain territory. Now in some regions of Russia there is a system of subsidies for Russian film companies. The introduction of Cash Rebate for foreign film companies will expand the cinematic capabilities of the regions and increase the attractiveness of Russia for foreign filmmakers.
The program is designed for four years. Until the end of 2019, it is planned to allocate 70 million rubles (1 065 000 $ at the exchange rate on August 23, 2019) for rebates. In 2020, the budget will spend 700 million rubles (10 640 610 $ at the exchange rate on August 23, 2019) for these purposes, and in 2021 and 2022 the amount will be increased to the annual 1.5 billion (22 637 100 $ at the exchange rate on August 23, 2019). Foreign companies will be compensated from 30% to 40% of expenses.
The operator of the program will be the “Russian Export Center”, which will create an expert group, which will include representatives of the Ministry of Culture and Film industry. The Cash Rebate will be available to feature films and documentaries, as well as cartoons and series.
Primorsky Region is territorially located in the Asia-Pacific region and is a leader among Russian regions in the number of filming of Asian film projects. The introduction of the Cash Rebate program for foreign film companies will help to attract more filmmakers from the Asia-Pacific countries to the region. Filming international projects contribute to direct investment in the region and increase the tourist attractiveness of the Primorsky Region.
Producers or production companies of any nationality with:
- Projects with a minimum of 5 shooting days in Primorsky Region
- International or Russian-international co-production projects
- Feature films, documentaries, series and mini-series.
SOURCE: Primorye film commission
To read more about Primorye Film Commission’s incentives, please check Primorye Film Commission