Reed Smith Client Alerts

The Greek Government improves the existing cash rebate (35%) programme by launching a 40% cash rebate with no cap per project  making Greece an attractive destination for international and local film and TV programs.

Authors: Anthony Poulopoulos Christina Nikiforaki Doretta Frangaki

After the successful handling of the first wave of the coronavirus pandemic the Greek Government wants Greece to be seen as, not only a safe environment with beautiful locations, but also as a financially attractive destination for international film and TV productions. 

In an ambitious move to attract international productions in Greece, the new law, 4704/2020, increases the cash rebate from 35% to 40% of the eligible expenses, and provides that such rebate is no longer capped (the higher the investment capital, the higher the cash rebate). The minimum thresholds of the eligible expenses are also reduced, making it possible for productions with lower budget to be eligible for the rebate as well. 

The new law provides a more flexible floor for TV series (€15,000-€25,000 per episode), a new minimum for video games (€30,000), and includes documentaries and short films with a minimum of €60,000. Furthermore, the Greek cash rebate can now serve as collateral for producers to obtain finance from Greek banks.