Incentives - 20% Reimbursement
Special legislation has been passed in Iceland which aims "to enhance domestic culture and promote the history and nature of Iceland" by temporarily supporting motion pictures and television programmes produced in Iceland. Reimbursements are offered for film and TV production costs incurred in Iceland. Producers can apply for reimbursements from the State Treasury of 20% of the costs incurred in the production of films and television programmes in Iceland. When more than 80% of the total production cost of a motion picture or television programme is incurred in Iceland, the reimbursement is calculated on the basis of the total production cost incurred within the European Economic Area. The reimbursement scheme does not cover production of commercials or music videos.
See a translation of the reimbursement legislation online.
?European content classification?Since Iceland is a member of the European Economic Area, films and television programmes made in Iceland receive European content status. This entitles Icelandic productions to be classified as European material when released in Europe, without affecting any quotas on the release of non-European content material there.
The MEDIA Program of the European Union
Through Iceland's membership of the European Economic Area, films and television programmes made in Iceland can receive grants for development and distribution and promotion of Icelandic projects and for training of professionals offered by the MEDIA Program of the European Union.
EURIMAGES
Iceland is a member of Eurimages, the Film Fund of the European Council which is based on the European Convention on Cinematographic co-production. Thus Icelandic producers can apply for production grants for European co- productions.
Examples of productions
Examples of productions in Iceland benefiting from the refund:
Iceland within Reach
Iceland is located midway between Europe and North America. The country maintains highly efficient and regular air and sea links with both continent. Shipping of cargo is easy with regular liner sailings to and from major ports in Europe and the USA. Shipping takes 3-4 days to Europe and 7-8 days to North America. Flight times are 2-3 hours to major gateways in Europe and 5-6 hours to the east coast of North America. Keflavik is the main international airport and a border point for entering Europe under the Schengen Agreement, is in the southwest, located about 50 km west of the capital, Reykjavik. In the domestic market, air services operate regularly (daily) to main regional towns.
Read more about Iceland