The island nation is wooing international film makers as a sunny and cheaper alternative to Los Angeles
More International Productions Expected to Shoot in Cyprus
The Cypriot film incentive scheme run by Invest Cyprus – CIPA (Cyprus Investment Promotion Agency) has an annual budget of 25 m EUR (initially 1.5 m EUR). The scheme provides Cypriot and foreign producers cash rebates and/or tax credits of up to 35% on qualifying production expenditures and it also provides tax allowances of 20% for investment in infrastructure and equipment on the Island.