Montenegro Offers Foreign Movie-makers Rebates


News
29 Dec 14

Montenegro Offers Foreign Movie-makers Rebates

Following the example of Serbia and Croatia, Montenegro has its eye on promoting the country as a cost-effective, high-quality and competitive location for making films.

Dusica Tomovic
BIRN

Podgorica

Montenegro’s government has adopted a new Bill on Cinematography, which contains financial incentives for foreign producers aiming to film in the country.

Under the new law, foreign producers filming in Montenegro will have the right to a refund of up to 20 per cent of the money they invest.

They will also be allowed to import equipment for recording without paying customs duties and taxes.

Foreign producers will need to invest at least 100,000 euros in shooting in Montenegro to obtain a refund, the new regulation says.

Also, to obtain conditions for this preferential treatment, foreign filmakers must have “at least one feature film that was shown to the public”.

Promoting the country as a movie-making destination is widely recognized these days in the region as an lucrative opportunity to generate income.

In 2011, Serbia launched a package of filming incentives with a 15-per-cent cash rebate on offer for producers of feature films, TV shows and documentaries who spend at least 2 million euros. A new, higher 20-per-cent rebate has been made available since 2013.

Croatia also uses the model of a 20-per-cent return on spending, while Hungary offers a tax credit of 20 to 25 per cent.

Source: Balkan Insight (Montenegro)