J.v. looks to tap coin for Canaries projects
MADRID — Madrid-based production company Intuition Films has teamed with the Canary Islands’ Blex Ideas to create IntuitionBlex.Founded by Javier Bello, Blex Ideas is a consultancy and communications agency in Tenerife, the largest of the seven Spanish Canary Islands. With offices in Miami, Madrid and Tenerife, IntuitionBlex will lever the Islands’ tax breaks, the most advantageous in Spain. IntuitionBlex aims to attract international shoots to the Islands and produce its own movies, TV content, commercials, documentaries and multiplatform products. It can tap a host of tax deductions: an 18% RIC Reservation of Canaries Investment tax break; a local sales tax of 4%, vs. Spain’s 18% VAT sales tax; and up to 38% tax breaks on movie investment by private financial investors, grouped in an Economic Interest Association (AIE). The last is available for international shoots that have a Spain-based co-producer. “For location shoots, the Canary Islands are a near paradise, offering an infinite range of landscapes from snow to desert and white- and black-sand beaches,” said Patrick Juarez, Intuition Films’ managing director. Canary Islands’ regional government is interested in attracting more international shoots, he added. Warner Bros. and Legendary Pictures’ “Clash of the Titans” and “Wrath of the Titans” shot in Tenerife using AIEs. One of Intuition’s earliest productions, to roll partially in the Canaries, is “Hitsville,” an action thriller set up with Arena Audiovisual. Screenplay is by Josep Ciutat, his first feature gig. Intuition Films is owned by Ele Juarez’s Intuition Media.