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PRODUCTION COMPANY CANARY ISLANDS
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The Autonomous Community of the Canary Islands is, due to its geographical location and its idiosyncrasy, a privileged place that offers the best opportunities for any type of film company to make a feature film, a short film, a documentary, advertising, etc... Its clear blue skies and the lack of rainfall favour sunny days with many hours of light; being the place with the most hours of light in Europe. Some enclaves in the Islands reach 4,800 hours of sun per year, ideal for the filming of a unique and unrivalled audiovisual product. The variety of landscapes that can be found on each island, makes them a place of extraordinary and incomparable film locations. They are called "The Fortunate Islands" for a reason.
From CAMALEON PRODUCTION COMPANY we offer you and your company the possibility of carrying out your film project in any island of the Canary Islands, where you can take advantage of the excellent opportunities offered by this unique territory: its scenic enclaves, company tax deductions, aid and subsidies offered by the Government of the Canary Islands. These features are especially advantageous compared to the rest of the national territory.
CAMALEON PRODUCTION COMPANY has the most modern film equipment and the most qualified professionals to carry out any film project; we have technical personnel with proven experience and dedication to ensure the film productions we carry out have every guarantee of success. We also have our own camera equipment, lighting, and grip. We are available for your company to advise and carry out your film project in any island from the Canary Islands. Contact us and we will offer you and your film company a personal service that will meet your expectations.
What locations can the Canary Islands offer your company?
Each island in the Canary archipelago offers a diversity of landscapes and intrinsic particularities, a wide range of geographical contrasts that make this territory an incomparable and original film set, very attractive for your film company. From the extensive forests in Las Palmas de Gran Canaria Island, La Palma Island or El Hierro Island; to the spectacular beaches in Fuerteventura Island, south of Las Palmas and Santa Cruz de Tenerife Island. The Canary Islands also offer volcanic landscapes in Lanzarote Island or La Palma Island, they all configure a diverse landscape that encompasses all location possibilities for any film company. The Canary Islands offer an infinite number of places in which any film creation carried out will be a guaranteed success.
CAMALEON PRODUCTION COMPANY has Location Managers within our company crew at your disposal to choose the most suitable island or place in the Canary Islands to shoot your film. We can give you and your film company advice on where to carry out each film venture; in addition to developing any necessary complementary skill, so that the feature film, short film, television series or documentary is a guaranteed success for your company. We offer the human resources and necessary means to carry out your film in any island.
What advantages does shooting your film in the Canary Islands offer your company?
The advantages of filming in the Canary Islands are: first of all, a variety of landscapes. Its unique enclaves, with an unmatched climate in Europe that allows great possibilities of script and photography, are perfect to carry out any film venture. These are the services, combined with a team of professional, technical and human resources with proven experience, CAMALEÓN PRODUCTION COMPANY offers to its clients.
Second but not least, are the economic advantages your film services company can benefit from in the Canary Islands. These are: tax deductions, aid and subsidies your film company could obtain from filming in a Canary island; which we will specify in more detail later. To inform, advise and carry out the necessary procedures, CAMALEÓN PRODUCTION COMPANY has a specialized team in these matters. Our company would contribute to make your film project possible from the beginning, looking for company financing sources if necessary and carrying out the procedures to get all tax deductions, as well as aid and subsidies for your company (both on a state and regional level).
Finally, you can enjoy its gastronomy, its people, its culture, and attend one of the most famous festivals in the world: Santa Cruz Carnivals in Tenerife Island or in Las Palmas de Gran Canaria. The ideal complement for your film venture in the Canary Islands. We are waiting for you at CAMALEÓN PRODUCTION COMPANY.
What can CAMALEÓN PRODUCTION COMPANY offer to the Producer's company who wants to know the tax relief he is entitled to in his film production?
From CAMALEÓN PRODUCTION COMPANY we offer your company the advice to know, in-depth, what requirements your film services company must meet to apply for tax deductions in the Canary Islands. Our company offers qualified personnel to inform you about the requirements you must comply to obtain the necessary certificates, what's essential to be entitled of tax relief, and the necessary procedures to obtain such certificates.
Likewise, we can help your company obtain the subsidies that the Government of the Canary Islands offer, study if the budgets provided for each modality are met, and inform you of the deadlines and published requirements. We can manage any request for aid and subsidies for your film services company. Also, we could advise your company on how to get the tax incentives offered by the Government of the Canary Islands, and obtain the financing your film company needs.
What subsidies can your company obtain for a film project made in the Canary Islands?
A film venture made in the Canary Islands can obtain two types of aid or subsidies. Both bring tax advantages. The first one comes from the State (provided by Spain), and the other one is granted by the Government of the Canary Islands. Each aid or subsidy, and consequent tax incentive, is provided by the corresponding legislation, whether state or regional.
Aid and subsidies granted by the Spanish State for a film production company:
The Aids and Subsidies for any film services company granted by the Spanish State are regulated by Law 55/2007, of December 28, on Cinema. The legislative framework developed in Ministerial Order CUD / 769/2018, of July 17, by the that the regulatory bases of the aid provided for in Chapter III of the aforementioned Law 55/2007 are determined, the structure of the Administrative Registry of Cinematographic and Audiovisual Companies is the following:
-Aids for film services companies are compatible with the receipt of others for the same purpose, as long as the joint amount does not exceed the limits established for each subsidized activity, and without prejudice to the incompatibility.
-The aid for the film project is non-transferable.
-The requirements that the beneficiaries of the Aids and Subsidies granted by the Government of Spain for film services productions are listed, including the most relevant:
Cinematographic films or other audiovisual works, including those made as co-production with foreign companies subject to these grants, must have Spanish nationality or be in a position to obtain it. The requirements to obtain the certificate of Spanish nationality are sought.
Cinematographic films or other film service must prove their cultural character, by obtaining the corresponding cultural certificate, granted by the Institute of Cinematography and Audiovisual Arts (ICAA) establishing the requirements for obtaining it.
-The requirements for film productions in a co-production regime with foreign production companies are set.
Likewise, the obligations of the beneficiaries of the aid and subsidies, general and specific obligations according to each type of aid or subsidy, are required.
The Aids and Subsidies granted by the Spanish State for feature films, short films, and documentaries about the project can be of two types, General and Selective Subsidies, and are incompatible with each other. In the same budget year, each film services company may only participate in one of these two options, although the same film project may be submitted to different selection procedures in the same aid line, in the same or different budget year, and with a maximum of four selection processes. Selection in the event that you opt for general aid, and three processes in selective aid.
The total amount of aid and tax incentives received by an audiovisual company in Spain, may not exceed 50 percent of the cost recognized by the Institute of Cinematography and Audiovisual Arts (ICAA), and the amount received by each producing company or a group of related companies may not exceed 10 percent of the amount allocated in each year to each of the lines.
In order to obtain the General and Selective Grants, the accreditation of cultural character in each film project will be an essential condition.
The purpose of the General Grants is to finance the costs for film projects that can obtain Spanish nationality with proven cultural character, and meet certain requirements according to the fiscal year. These requirements and criteria may vary, so it is essential to have a film services company like CAMALEÓN PRODUCTION COMPANY, who can help you not only with the production work, but also with the cumbersome and complicated bureaucratic issues inherent in any audiovisual project. It is also possible to access Selective Grants for the financing of documentaries, incorporating new filmmakers and experimental film projects. As with General Aid, the amount of aid, application deadlines, requirements, and procedures may vary each year and will be specified by Ministerial Order published in the BOE. CAMALEÓN PRODUCTION COMPANY also offers you advice and collaboration to access General Aid.
Aid, subsidies and tax deductions granted by the Canary Government to a film company:
The Aids and Subsidies provided by the Community to the film services sector, are regulated in its most recent legislation by the Order of July 10, 2020, promulgated by the Government of the Canary Islands. These call for subsidies for your film services company to make: feature films, television series, fiction, animation or documentaries, which will approved through urgent processing.
As beneficiaries of these Grants, individuals or a legal company constituted as independent film services companies can choose to certify that they have a permanent branch or office in the Autonomous Community of the Canary Islands at the time of the call. With a minimum of at least one year of seniority in cases of the production actions of cinematographic feature films and the completion of audiovisual work, provided that they are registered as audiovisual producers in the Canary Islands Registry of Audiovisual Companies or in the Registry of Cinematographic and Audiovisual Companies of the Ministry of Education, Culture and Sports, and develop their usual activity in the Canary Islands. Regulated in the Annex of this standard the conditions to be a beneficiary in co-production. CAMALEON PRODUCTION COMPANY collaborates with an independent Canarian production services company that will help you meet the necessary requirements to be a beneficiary of this aid.
What tax deductions can be obtained for a film project made in the Canary Islands?
The Canary Islands have the most important tax deduction and incentive system for your film services company in Europe. Its Economic and Fiscal Regime, validated by Spanish and European regulations, makes the Canary Islands its own and special legal-fiscal framework, where you can benefit from tax deductions unparalleled in the rest of Spain and throughout Europe, these are:
-50% -45% tax deduction for investing in Spanish productions or co-productions. This is for projects of national nature that are made in the Canary Islands and obtain the Canarian Certificate of Audiovisual Production, 50% percent on the first million euros, and thereafter 45%, with a maximum deduction of 18 million euros. To obtain these tax benefits for your company, in addition to obtaining the Canarian Certificate of Audiovisual Production, it is necessary that the film company registers in the 'Canary Islands Audiovisual Companies Registry' and meets a series of requirements depending on the project. Audiovisual: real image feature films, real image series, documentaries, and animation works. Also, a series of conditions must be met in the hiring of personnel. In the case of a co-production, the Canarian producer's contribution must be greater than 20% of its cost. The basis of the deduction will be made up of the cost of production, as well as the costs for obtaining copies and the advertising costs paid by the producer, up to the limit for both of 40% of the production cost. This total will be reduced by the amount of subsidies received to finance the investments that generate the right and the deduction. At least 50 percent of the deduction base must correspond to expenses incurred in Spanish territory. Will be able to benefit investors whose company headquarters of economic activity are in the Canary Islands. The tax deduction amount is the tax credit that is deducted from the corporate tax (IS) share. If there is not enough quota to apply the totality of the deduction, the rest pending can be deducted from the quotas in the Corporation Tax of the following years.
-50% -45% direct deduction for international productions. Producers that live in the Canary Islands and make a foreign audiovisual project (production service companies), benefit from a deduction of 50% of the first million eligible expenses and 45% of the rest of the expenses in the Canary territory. Eligible expenses incurred in the Canary Islands must reach at least one million euros, except in the case of animation and post-production, which will be 200,000 euros. This incentive is limited to a maximum deduction of 18 million euros Foreign productions are understood to be audiovisual productions such as feature films, fiction, animation, and documentary films and series that are not classified as Spanish. The productions that generate the right to this deduction must have a minimum overall cost of at least 2 million euros.
Company expenses incurred in the Canary Islands directly related to production may be deducted, whether they are creative personnel expenses, expenses derived from the use of technical industries and other suppliers, including pre-production, production, and post-production. Producers or production service companies that have a fiscal domicile in the Canary Islands, are registered with the Institute of Cinematography and Audiovisual Arts (ICAA), and have executed a foreign film or audiovisual work may benefit. The amount of tax deduction (50-45% of eligible expenses) is deducted from the Corporation Tax quota as of the tax period in which the production service ends.
-Special Canarian Zone (ZEC): A company that develops any activity related to the film sector can be established as a ZEC entity and pay a reduced tax rate of 4% in Corporation Tax, instead of the general rate of 25 % in force in Spain, provided that a series of requirements are met: Be a newly created entity or branch; that at least one of the administrators is resident in and island of the Canary Islands; make a minimum investment of 100,000 euros in tangible and intangible fixed assets in a period of two years from when the company is registered ZEC (Flexible Amount by Contract Volume); create at least five jobs in the first six months of the activity, maintaining this annual average throughout the life of the film company in the ZEC; that at least one of the administrators resides in the Canary Islands; and constitute the corporate purpose, within the scope of the ZEC, to carry out authorized activities. The activities authorized within the framework of the Canary Islands Special Zone (ZEC) are Production, film production services, assistance in filming and post-production, photography and advertising, and film distribution. The benefits obtained by a ZEC entity are a Reduced tax rate in Corporation Tax of only 4%; an exemption in the Tax on Patrimonial Transmissions and Documented Legal Acts; an exemption in the IGIC to the import (as much of the raw material, as of investment material or finished products); an exemption in operations between ZEC entities; application of the International Double Taxation Agreements, and exemption at source from withholding for repatriation of capital applying the parent-subsidiary Directive; and removal of the restriction on the application of the deduction for internal double taxation of dividends. This ZEC tax incentive is compatible with other tax incentives for film production that are detailed on this website.
- Each island also has other tax instruments for your film company that act as incentives for the ordinary operation of companies, regardless of the activity sector. They are therefore perfectly applicable to film production companies. Unless indicated, they are compatible with the specific and general mechanisms described above: Reserve for Investments in the Canary Islands (RIC)
This tax incentive enables a reduction in the tax base of Corporation Tax of up to 90% of the undistributed profit. Film production companies can capture this reserve from other companies to invest in their film productions as long as they obtain the Canarian Certificate of Audiovisual Work seal granted by the Government of the Canary Islands. The Reserve can be reflected in feature films, short films, and fiction, animation, or documentary audiovisual series, as long as they have been produced in the Canary Islands. Deduction for R&D and Deduction for IT: up to 75% A deduction is applied for activities classified as Research and Development directly carried out in the Canary Islands: a 45% deduction of eligible costs compared to 25% in mainland Spain and the Balearic Islands (up to 75.6% in the first years of execution of the R&D project). Likewise, the deduction for Technological Innovation in the Canary Islands amounts to 45% in the Canary Islands (12% in the Peninsula and the Balearic Islands). In the case of insufficient quota, the Tax Agency may be requested to monetize the remaining amount not deducted.
How can “CAMALEON PRODUCTION COMPANY” contribute to your film project?
CAMALEÓN PRODUCTION COMPANY, in addition to its team or collaboration in any film project, offers to inform you in more detail about these possible incentives and tax deductions for your film company; either as a producer or as a mere investor who wants to participate in the audiovisual film field. We advise film services companies and non-profit cultural entities on how they can obtain tax advantages. We manage the application for subsidies and aid granted by the Canary Government, and help you find the financing your project needs, collaborating so that it can be carried out.