Incentives & Tax Rebates in the Canary Islands

The CANARY Islands Film Incentive program offers a unique opportunity for film production companies looking to take advantage of the tax incentives provided by being an insular and outermost territory. With Spanish regulations that have several unique features, the program provides a tax deduction of up to 50% of the first million euros spent on production, with a 45% deduction on any amount exceeding this threshold. With a current maximum deduction limit of 10 million euros per production (expected to increase to 18 million pending approval), this program offers a valuable opportunity for film production companies.

In order to be eligible for the tax deduction, film production companies must meet several requirements. First, the production must receive the Canarian audiovisual production certificate, which is awarded by the relevant government authority. There is also a minimum shooting requirement in the Canary Islands, which varies depending on the type of production. Finally, the production company must be registered in the Canary Islands Film Company Registry, maintained by the local government.

The CANARY Islands Film Incentive is an ideal opportunity for film production companies looking to reduce their tax liabilities and take advantage of the unique resources and location of the Canary Islands. With a focus on providing tax incentives, this program can help film production companies achieve their goals and reach a wider audience. If you’re looking to film in the Canary Islands, don’t miss out on this exciting opportunity. Contact us today to learn more about the CANARY Islands Film Incentive program and how we can help you take advantage of all the benefits it has to offer.