Wednesday, September 22, 2021

Colombia Passes New Film Law to Promote Foreign Shoots

The Colombian Congress passed a new Film Law to benefit both local and foreign companies shooting in the country. The new legislation aims to “promote the national territory as a location for Films” and creates the Colombia Fimaciones Fund, which will receive donations, transfers and contributions. An initial COP $25 billion (USD $14 million) will be provided by the State, said Minister of Culture Mariana Garces – who wrote the project – to the Senate’s Press Office.

An equivalent of 40% of the costs will be granted to film companies that shoot projects using Colombian film service providers and actors. Eligible productions can be only partially shot in Colombia, and will also get a 20% return on accommodation, catering, and transport costs provided local companies are contracted.

“This new Law will benefit the entire Colombian film sector: both producers and providers for production and post-production services. The contact with international technical and artistic teams will not only benefit companies but also Colombian technical and artistic crews, which will become better and more competitive internationally,” said Garces.

- Advertisement -

Five international productions are expected to land in Colombia as a result of this, with an approximate investment of USD$30 million.

The bill had been publicly supported by President Juan Manuel Santos last February, on his speech on the opening night of the Cartagena Film Fest. The new legislation adds to the 2003 Film Law 814, which boosted Colombian film production in recent years by establishing tax deductions for investors and a State Film Development Fund.

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

Related Articles

Why electric cars will take over sooner than you think

Q REPORTS (BBC) I know, you probably haven't even driven one...

Is it all Greek to you? Coronavirus variants get new names

(REUTERS) Coronavirus variants with clunky, alphanumeric names have now been assigned...
- paying the bills -

MOST READ

- paying the bills -

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!