Film Industry Services
Cyprus is fast emerging as a film production destination, thanks to an attractive package of incentives introduced by the government, encouraging international producers to choose the island for filming, in order to grow and boost the film industry.
The scheme consists of a combination of grants for the approved applicants:
- Cash rebate (up to 45% on eligible expenditures incurred in Cyprus)
- Tax Credit
- Tax Deduction for Investments in infrastructure and equipment
- Return of VAT on expenditure
- Film Incentive Advisory: Consultation and guidance on Cyprus’ film incentives, including eligibility assessments, application preparation, and compliance support to secure rebates, tax credits, and VAT refunds.
- Corporate Services: Incorporation and administration of production companies, SPVs and co-production entities in Cyprus, including registered office, directorship, and secretarial services.
- Legal & Compliance Services: Drafting and negotiating production agreements, talent contracts, and advising on IP matters.
- Immigration & Work Permit Assistance: Handling applications for visas and work permits for international cast and crew, including long-term stays.
- Digitized preparation and maintenance of proper books and records in every major currency
- Preparation of periodic management accounts
- Preparation of Trial Balance showing the amount of each Ledger Account
- Preparation of Nominal Ledgers showing the movement of each ledger account
- Monthly debtor / creditor reports and ageing analysis
- Reconciliation and analysis of bank accounts
- Conversion of accounts in accordance with IFRS standards
- List Item #3
