Romanian govt. launches Office for Film and Cultural Investments to attract studios
Romania recently launched the Office for Film and Cultural Investments to encourage studios to produce films in the country.
The Ministry of Culture also announced the launch of a new call for projects dedicated to the production of audiovisual works that will begin on July 25.
“Despite all the obstacles and administrative incapacity manifested since 2018, thanks to a team of valuable people, we have succeeded in making the Office for Film and Cultural Investments operational, and Romania is now among the European countries with a functional scheme. Our colleagues at the Office for Film and Cultural Investments are prepared for the 2024 session of the program to attract investments in the production of audiovisual works in Romania,” said culture minister Raluca Turcan cited by G4Media.
“On July 25 we are launching the new call for projects, with numerous international companies already eager to start filming in Romania. By 2026, we estimate that we will attract more than EUR 350 million in direct investments through the cash rebate program, which will operate according to a modernized, fast, and 100% digital procedure,” she added.
The minister also announced that payments for four of the outstanding requests will be executed by July 22. All projects from the 2018, 2019, and 2020 sessions will also be processed and reimbursed in the next two months.
“This is not just about an institution; it is about the country's international image, which already has proven potential in professionals and filming locations. There are only a few days left until the first anniversary of this cultural institution, and we are proud to say that despite all the challenges, we have succeeded!” added the culture minister.
In addition to managing the cash rebate scheme, the Office aims to promote cultural and artistic values internationally, support the development of international cooperation in the cultural field, and stimulate investment in cultural projects and infrastructure in Romania.
The government began reviving the cash rebate system for the film industry in May 2023. The country had such a scheme in earlier years but paused it over the pandemic.
According to Film New Europe, the minimum local spend for the rebate is EUR 100,000 for a feature film over 60 minutes, EUR 100,000 for each episode of a series, EUR 50,000 for a documentary, and EUR 15,000 for a short film, animated film over 5 minutes, or animated series. The 30% cash rebate on local eligible expenditure is up to EUR 10 million for a single project, and it can be accumulated with other state aid: up to 60% for EU coproductions and 100% for difficult films.
Eligible projects include short, medium, and long fiction films, series and miniseries, artistic documentaries, and animated films. Non-eligible projects are soap operas, sitcoms, commercials, and video games.
(Photo source: Raluca Turcan on Facebook)
