WHY COLOMBIA ?
Colombia offers a cash rebate or cash reimbursement for films partially or totally produced in Colombia (long feature films, TV movies, documentaries and animation). Said reimbursement is wired to Producer 5-6 months after last eligible payment is made in Colombia (i.e. end of production wrap or post production period). Payment is made to any bank account designated by Producer.
- 40% for “film services” (services related to audio-visual pre-production, production or post-production including artistic and technical services).
- 20% for “film logistics services” (those that are provided for hotel, catering, and transportation) of the amount spent in the country.
- Net average of approx. 30% of total local spent.
The cash rebate applies to services provided by Colombian entities or persons that are domiciled or residing in the country.
- The project in question shall entail expenditures in film services or film logistics services of minimum approximately USD 496,000 for 2020.
- The project shall be submitted by its producer, legal person or entity.
- The project will be evaluated by the Colombia Film Promotion Committee (CPFC for its Spanish acronym) according to the purpose of Law 1556: To develop Colombia’s film industry, as well as promote tourism and the country’s image.
- The project shall entail total or partial filming in Colombia. As for animated work, this item refers to carrying out production work in the country.
- The producer shall sign a contract stipulating the obligations, conditions, and requirements for the reimbursement to be given and the amount thereof.
- Film services for non-national projects shall be contracted through a Colombian film services companies (previously registered at the Film Office of the Ministry of Culture).
- The funds for use in services shall be administered by a trust established in Colombia, through an administration trust or standalone trust.
- Lastly, in order for the reimbursement to be disbursed, there must be approval by an auditing company established in Colombia, which shall also be engaged by the producer.
The expert opinion, certificate or report issued by the auditing company shall be sent directly to the administering entity.