The Film Industry in Cyprus – A Blooming Sector

STELIOS AMERICANOS & CO LLC | View firm profile

The film industry constitutes a complex and ever-flourishing sector in the global economy. The industry’s operation occupies multifaceted stages, engages a selection of distinct stakeholders and experts and presents plenty opportunities for all parties who choose to get involved. Committed to boosting this highly promising sector, the government of the Republic of Cyprus introduced a package of incentives, encouraging international producers to choose Cyprus as their next film destination.

The report covers:

  • production companies that opt to film in Cyprus to choose between cash rebate or tax credit
  • benefit from tax discounts on investments made on equipment and infrastructure and VAT returns on expenditures
  • film schemes for every jurisdiction and incentives offered under the Cyprus Film Scheme
  • the way the film industry operates and provides an insight into the multitier process of film production
  • the legal aspect of the film industry and lawyers’ supportive and facilitative role is appreciated in relation to each stage of film production

This report draws on the opportunities that film sector presents in Cyprus, along with the legal challenges for the actors involved.