Cyprus Film Industry Incentive Scheme - January 2019
In September 2017, the Cyprus Council of Ministers approved a scheme for the promotion of the Republic of Cyprus as a filming destination. The scheme, called ‘Olivewood’, will close in December 2020 and has an annual budget of €1.5 million.
The scheme, which is line with EU law, offers a combination of financial and tax incentives:
- Cash rebate
- Tax credit
- Tax allowance for investment in infrastructure and equipment
- Reimbursement of VAT on expenditure
To learn more about the incentives encouraging international producers to choose the Island as their next filming destination, click here.