×
You will be redirected back to your article in seconds

Canary Islands Lure Shoots With a New Whopping 40% Rebate

Spain’s Canary Islands, located in the Atlantic 100 miles west of Morocco are home to some of the planet’s most eerie and beautiful landscapes – which is why the archipelago has been attracting filmmakers for many years. But the industry also travels there to take advantage of a super-generous 40% rebate on qualified spend.

The incentive for international productions was increased from an already ample 35% earlier this summer. The territory now ranks among the most financially attractive locations for shooting movies. The benefits extend to feature films, documentaries, animation projects and TV series.

To qualify, a film’s minimum spend should be 1 million euros, or about $1.2 million, and the minimum budget must be 2 million euros, or approximately $2.3 million.

The project cap is 4.5 million euros, or about $5.3 million, and there’s a compensation cap of 100,000 euros, which is about $120,000.

To take advantage of the incentives, producers need to employ the services of a Spanish production company with tax domicile in the Canary Islands and registered with Spain’s Instituto de la cinematografía y de las artes audiovisuales (ICAA).

In addition to the incentives and the landscapes, the Canary Islands offer an ideal climate for filmmaking and a well-developed production infrastructure.

Recent productions shot in the territory include “Allied” (2016), “Jason Bourne” (2016), “In the Heart of the Sea” (2015), “Exodus: Gods and Kings” (2014) and “Fast & Furious 6” (2013).

Incenitves
40% Rebate on qualified spending
$1.2m Minimum spend
$2.3m Minimum budget
Information courtesy of EP Financial Solutions, a production incentive consulting and financial services company.

More Artisans

  • Spider-Man Homecoming

    Film and TV Productions Are Using Drones for Scouting Locations, Lighting and More

    Since a ruling by the Federal Aviation Administration in 2014 that cleared the use of drones in film and TV production, the acquisition of footage by these unmanned flying machines has become de rigueur for aerial shooting in cases when cranes or aircraft are impractical or unsafe.  As such, drones have been greeted enthusiastically not [...]

  • MTV The Challenge

    How 'The Challenge' Relied on Global Crew to Pull Off Plane Game

    Thirty-three seasons into MTV’s “The Challenge,” the reality competition series has spawned a band of traveling producers and engineers who fly around the world to create one-of-a-kind games. This includes placing cameras, smoke elements and a puzzle inside a plane that was suspended more than 30 feet above water. Executive producer Justin Booth joined “The [...]

  • Chaz Ebert DePaul CHA Documentary Filmmaking

    Chicago Program Gives High School Girls Lessons in Documentary Filmmaking

    At the upcoming Cannes Film Festival, three of the projects screening in the Short Film Corner — “Birthday,” “Phenomenally Me” and “Without Dying” — will be products of the DePaul/CHA Documentary Filmmaking Program, a six-week course co-sponsored by the Chicago Housing Authority in which high school girls learn filmmaking from graduate students and faculty of [...]

  • Steven Spielberg55th Annual CAS Awards, Inside,

    Cinema Audio Society Sets 2020 Awards Show Three Weeks Earlier

    The Cinema Audio Society has moved its 2020 awards show ahead by three weeks to Jan. 25 due to the compression of the season. It will be held at the Intercontinental Los Angeles Downtown. The CAS Awards recognize sound mixing in film and television, outstanding products for production and post-production, as well as the recipient [...]

  • Rocketman Elton John Biopic

    'Rocketman' Production Team Took the Fantasy Route With the Elton John Biopic

    Paramount has high hopes for “Rocketman,” the Elton John biopic starring Taron Egerton as the legendary performer. Premiering at the Cannes Film Festival on May 16, the film comes on the heels of Fox’s massively successful Freddie Mercury movie “Bohemian Rhapsody” and could capitalize on audiences’ newly discovered interest in rock star stories that transport [...]

  • Burbank-based Barnstorm VFX Studio Expands to

    Barnstorm VFX, Creator of Visuals for Amazon’s ‘The Man in the High Castle’ and Other Shows, Expands to Vancouver

    Barnstorm VFX, the company behind the visual effects on Amazon Studios’ “The Man in the High Castle” (pictured above), “HBO’s Silicon Valley” and CBS’ “Strange Angel,” has opened a new facility in Vancouver, British Columbia. The move positions the boutique digital effects, design and production shop to take advantage of expanding work north of the [...]

More From Our Brands

Access exclusive content