ABOUT

For CINA the applicable projects within AG Studios scope include: films, series, and post – production. Note: Post-production alone is included in this benefit.

  • Up to 35% of the value of foreign investment made in Colombia for production services.
  • 5% of the value of the certificate payback to the Colombian film commission prior to certificate issuance, meaning that the certificate net value is up to 33,25% of foreign investment.
  • Net average value of approximately 28,6% of total local expenditure.

FFC: With this benefit, foreign production companies can get back 40% of their film
service expenses and 20% of their logistic expenses in Colombia. This incentive,
however, depends on government funds to be disbursed into a pool each year to
finance the rebate.

For the FFC the applicable projects within AG Studios scope include: films, series, and post-production. Note: post-production alone is not included.

  • 40% for “film services” (services related to audio-visual pre-production, production or post-production including artistic and technical services).
  • 20% for “film logistics services” (those that are provided for hotel, catering, and transportation) of the amount spent in the country.
  • Net average of approximately 30% of total local expenditure.

AG STUDIOS COLOMBIA

INITIAL STEPS & REQUIREMENTS:

To apply for either one of the incentives, it is important to keep the following in mind:

  • The project is required to guarantee that filming, whether in its entirety or partially, will take place in Colombia.
  • For the CINA incentive, post-production only projects require a minimum expenditure of 1,800 times current Colombian Minimum Wage.
  • In Colombia, international production services must be hired through a Colombian film services company. (Example: AG Studios).
  • The foreign production company will be required to submit a certain series of documents during the application process. AG Studios will guide the client through the application process and indicate the list of required documents.
  • The project will be evaluated by the Colombian Film Promotion Committee (CPFC).
  • Additional terms and conditions will be discussed in further detail once the process starts.

ONCE THE PROJECT GETS APPROVED:

  • For the project to be assessed, an initial deposit of 40 Colombian Minimum Wages (USD amount depends on exchange rate) must be paid directly to Colombian film commission.
  • A signed contract, outlining the obligations, conditions, and requirements, between the foreign production company and Colombian film commission, is a prerequisite for the incentive to be granted and the funds to be disbursed.

PROJECT EXECUTION AND REIMBURSEMENT REQUIREMENTS:

  • Funds Administration: All expenditures in production services must be managed and certified through a trust fund established in Colombia.
  • Audit Certification: A locally established auditing company, hired by the foreign production company, is responsible for auditing and certifying all expenses.
  • Timeline for Feature Film Production (Only): The contract’s execution period for Feature film production-only projects is set at 9 months.
  • Timeline for Feature Film Production and Post-Production: For projects involving both Feature film production and post-production, the contract’s execution period is set at 18 months.
  • Timeline for Series Production (Only): Series production-only projects must be executed within a timeframe of 12 months.
  • Timeline for Series Production and Post-Production: For projects encompassing both Series production and post-production, the contract’s execution period is set at to 24 months.
  • Timeline for Post-Production (Only): Post-Production projects must be executed within a timeframe of 18 months.