The Spanish Institute of Cinematography and Audiovisual Arts has recently published the repayment grant scheme for Spanish films released in 2013 (following the broad definition of “Spanish film” set forth in the Spanish Cinema Act, which may include certain European films).
The repayment grants amount to a total of €36 million. The maximum amounts which can be granted per film are the following, provided they do not exceed 50% of the total costs of the film or 75% of the investment made by the producer:
- General amortization grant: €400,000.
- Complimentary amortization grant: €1.2 million.
- Combined amount of the aforementioned grants: €1.5 million.
It must be noted that cinema productions which started being filmed between 1 January and 30 June 2010 may obtain general amortization grants up to €800,000. Additionally, the total cap for repayment grants is increased to €2 million for these films.
Some further limitations apply to film production companies (or corporate groups of film production companies that have a significantly similar shareholding structure) which request public grants for various films. In those cases, the maximum amount which may be granted (aside from the aforementioned limits) will be: (i) for independent production companies, 15% of the total amount of repayment grants to be given (i.e. €36 million) and (ii) 10% of said total amount for other production companies.
These grants may be requested up to 22 July 2015.