• Cyprus Film Industry Incentive Scheme

Cyprus Film Industry Incentive Scheme

In September 2017, the Cyprus Council of Ministers approved a scheme for the promotion of the Republic of Cyprus as a filming destination. The scheme, called ‘Olivewood’, will close in December 2020 and has an annual budget of €1.5 million.

The scheme, which is line with EU law, offers a combination of financial and tax incentives:

  • Cash rebate
  • Tax credit
  • Tax allowance for investment in infrastructure and equipment
  • Reimbursement of VAT on expenditure

To learn more about the incentives encouraging international producers to choose the Island as their next filming destination, click here.