Hellenic Film and Audiovisual Center announces a total of 1.030.374,80 euros selective fund support for projects at Production, Development and Screenwriting stage
Cash Rebate-FTV
Percentage of investment return and state aid cap
Investment projects for audiovisual works, which qualify for funding under the CRGR-FTV scheme, shall be supported by the Greek State through a 40% return of the value of the eligible production costs implemented within the Greek territory and not exceeding eighty percent (80%) of the total production cost for the entirety of the audiovisual production work (eligible production expenses).
The total subsidy is granted as a lump sum and may reach up to eight million euros (EUR 8.000.000,00) per audiovisual work, with the possibility of increasing up to ten million euros (EUR 10.000.000,00) for strategic investment projects of national importance, subject to approval by the competent authorities.
Eligible beneficiaries
The following entities qualify as beneficiaries under the CRGR-FTV aid scheme:
For Action A:
(a) Large enterprises that have an establishment or branch in the Greek territory or will be active in Greece at the time of aid disbursement, operating with the purpose of:
(i) the production and/or executive production of audiovisual works; or
(ii) the production of audiovisual works in the context of cross-border production;
(b) Foreign audiovisual production companies with a permanent establishment or statutory seat in countries that are not classified as non-cooperating states within the meaning of Article 65(3) of the Income Tax Code (Law 4172/2013), provided that, for the purposes of this scheme, they enter into agreements with a company established in Greece or having a branch in Greece, operating as executive producer of audiovisual works or part thereof. The contracting company under point (b) may be a Small or Medium-sized Enterprise (SME) and may be considered a co-beneficiary of the aid.
For Action B: Small and Medium-sized Enterprises (SMEs) that:
(a) have an establishment or branch in Greek territory or will be active in Greek territory at the time of aid disbursement, operating with the purpose of: i. the production and/or executive production of audiovisual works; ii. the production of audiovisual works in the context of cross-border production; or,
(b) will have been operating in the Greek territory at the time of aid disbursement for the same purposes and will incur eligible costs in Greek territory.
The two actions of the CRGR-FTV scheme support the production of stand-alone audiovisual works, covering both production and post-production activities.
Eligible undertakings must be established in Greece, have a branch, or plan to develop a presence in the country, and must be registered under the following core audiovisual activity codes:
- 59.11 – Motion picture, video and television programme production activities
- 59.12 – Motion picture, video and television programme post-production services
The scheme supports projects implemented in Greece, in line with European state aid rules, with the aim of strengthening the country’s audiovisual sector and attracting international productions.
Moreover, at the time of commencement of the investment project and at such time the aid is granted, undertakings shall be of one of the following forms:
a) sole proprietorship;
b) legal person or legal entity with commercial operation;
c) co-operative;
d) business operating in the form of a joint venture, on the condition that it has been registered in the General Commercial Registry (GEMI), states the commercial activity it carries out in its Statutes, and has declared the above-mentioned relevant activity code numbers. Companies in the process of establishment or merger are required to complete the publicity formalities prior to the start of the investment project.
Beneficiaries must also be registered in the Register of Beneficial Owners prior to the submission of the funding application. Sole proprietorships, foreign companies, as well as companies listed on a regulated stock exchange, are exempt from this requirement.
Total minimum eligible costs implemented in the Greek territory (minimum local spending)
For an investment project for an audiovisual work with fictional or creative documentation (documentary) content to qualify for funding under the CRGR-FTV aid scheme, the total eligible costs implemented within the Greek territory, regardless of applicant size, must amount to at least:
- Theatrical or television films with fictional content:EUR two hundred thousand (200.000,00).
- Films with creative documentation (documentaries) content: EUR sixty thousand (60.000,00).
- Theatrical or television short films: EUR forty-five thousand (45.000,00).
- Television mini-series up to sixteen (16) episodes in length with fictional content: EUR one hundred and twenty thousand (120.000,00) per episode produced for their first two (2) seasons.
- Television series with fictional content which are not mini-series: EUR thirty-five thousand (35.000,00) per episode produced for their first two (2) seasons. A maximum of one hundred and fifty (150) episodes qualify for the first season. The second season of the qualifying series may include up to twenty-five (25%) percent more episodes than the approved episodes of the first season.
- Τelevision series with creative documentary content : EUR twenty-five thousand (25.000,00) per episode, with a maximum number of episodes as specified in case 5 for two (2) seasons.
Types of audiovisual works not eligible for the aid schemes of the CRGR-FTV
(a) videotaped or filmed artistic performances and events, such as theatre, opera, dance, music; (b) any form of sports broadcast, sports review or coverage of sports match or event; (c) informative, news, news review or informatory shows and programmes; (d) various entertainment programmes, talk-show programmes and televised interviews; (e) advertising messages, telemarketing shows and social messages; (f) programmes with pornographic content; (g) programmes presenting or promoting various corporate, entertainment and cultural events; (h) purely educational programmes and distance learning and information programmes; (i) programmes showing lack of respect for human dignity and programmes that include or promote discrimination based on sex, racial or ethnic origin, nationality, religion or belief, disability, age or sexual orientation; (j) television or telephone games.
Eligible expenses
Eligible expenses are those incurred and paid by the beneficiary for the implementation of the investment project in the Greek territory and documented by invoices or equivalent supporting documents, including for example:
(a) above-the-line expenses relating to the fees of the screenwriter, the director, the two lead cast roles (A and B), as well as music rights;
(b) below the line costs for all kinds of services directly related to the production of the audiovisual work, such as accommodation and food, transportation, rental of equipment and studios, procurement of materials, purchases of equipment and consumables that are not fixed assets, wage costs for the jobs necessary for implementing the investment project;
(c) post-production costs, such as editing, visual effects, sound editing, connected to the investment project for the production of an independent audiovisual work;
(d) other production costs;
(e) costs related to the improvement of accessibility for people with disabilities;
(f) subcategories for contingency costs are eligible only under Action A of this scheme.
(g) for Action A only: invoices issued by foreign individuals or entities for director’s fees and the two lead cast roles are eligible, provided that such entities are not established in non-cooperating states within the meaning of Article 65(3) of the Income Tax Code (Law 4172/2013); the total value of such costs may not exceed 20% of the total eligible costs (excluding VAT).
Restrictions on Eligible Costs
a) all premiums and guarantee costs shall be counted in total and the maximum eligible cost shall be five percent (5%) of the total eligible production cost;
b) fuel costs shall be eligible up to a maximum of two percent (2%) of the total eligible costs as presented in the funding application;
c) the music rights, as well as the fees of the director, the screenwriter and the two lead cast roles shall be calculated up to thirty percent (30%) of the total eligible cost;
d) the fee of the executive producer shall be eligible up to a maximum of ten percent (10%) of the total eligible cost;
e) the following shall not be calculated in the total eligible production cost:
ea) the cost for financial assets, fixed assets and depreciation thereof, such as technical equipment, plots and buildings, lending costs, bank expenses;
eb) the cost for marketing, promotion and communication actions;
ec) costs related to the use of pre-existing equipment owned and used by the production company.
Starting date of cost eligibility
The starting date of cost eligibility shall be the day of submission of the application for qualification. Production costs for a pilot of an independent audiovisual work shall not be included in these costs. In the event that works start on an investment project before the aforementioned date of the application for qualification, with the exception of pre-production activities which do not constitute the start of an investment project, the entire investment project shall become ineligible to receive funding from any of the aid schemes.
Application submission – Evaluation process
Applications for qualification of an investment project under the CRGR-FTV aid schemes shall be submitted electronically by the beneficiary through the State Aid Information System (OPSKE) of the Ministry of National Economy and Finance, using TAXISnet credentials, up to ten (10) days prior to the start date of the investment project. The beneficiary shall designate an OPSKE project coordinator (natural person) for the specific action in its profile.
The evaluation of each application is carried out by two (2) independent evaluators appointed by the competent authority of the Granting Authority. The evaluation covers both the completeness and legality of the application, as well as its content, including the investment plan, sources of financing, compliance with the applicable aid rules, and the assessment of cultural criteria.
The evaluation process is completed within three (3) months from the submission of the application to the information system. Each evaluator assesses the application in full and issues an Evaluation Report.
The evaluation process is hereafter particularly strict and no extension for resubmission, completion or correction of supporting documents or data shall be granted after these thirty (30) working days. An extension to the deadline may be granted only in extraordinary or unforeseen circumstances or due to demonstrable fault of the public body which delays the issue of the relevant documents.
The applicant undertaking may request the issuance of a letter of intent by the Granting Authority upon successful completion of the completeness and legality evaluations, namely within thirty (30) business days from the submission of the application. The Granting Authority (H.F.A.C.-Creative Greece) shall issue the letter of intent, subject to the successful completion of the evaluation by the appointed evaluators and the issuance of the relevant decision qualifying the investment project for the aid scheme.
A single appeal may be submitted electronically via the State Aid Information System (OPSKE) within ten (10) days from the day following the notification of the evaluation results. Appeals may be filed against: (a) the outcome of the application following the evaluation process; and (b) the decision approving the evaluators’ conclusions, where its content differs from that of the application.
Appeals constitute administrative appeals within the meaning of Article 25 of the Code of Administrative Procedure (Law 2690/1999) and are examined based on the information available at the time of the initial decision. The decision on the appeal is final and no further administrative appeal is permitted.
Monitoring and Verification of the Investment Projects
The monitoring, control and administrative support of investment projects, from their inclusion in the aid scheme until the final disbursement of the aid, are carried out by employees of the Granting Authority, designated as Monitoring and Control Officers. These officers are responsible for ensuring compliance with the terms of inclusion throughout the implementation of the investment project, monitoring the beneficiary’s obligations, and maintaining effective cooperation with the beneficiary to ensure the proper and lawful completion of the project.
Amendments to Approved Investment Projects
Amendments to approved investment projects are permitted during their implementation and until completion, upon application by the beneficiary, provided that the project continues to meet the eligibility and evaluation criteria of the scheme and its nature is not altered.
Amendments may concern exclusively:
(a) internal reallocation of eligible cost categories within the approved budget, without increasing the total approved eligible cost;
(b) amendments to the physical scope of the investment project, including changes related to cultural criteria;
(c) extensions of the project completion timeline, as defined in the approval decision. Such extensions may not exceed six (6) months or, in cases of force majeure, a period equal to the duration of the interruption or delay, subject to appropriate justification;
(d) amendments concerning the beneficiary, including merger, spin-off or transfer by universal succession during the implementation of the investment project;
(e) increases in the eligible cost budget of up to ten percent (10%) within the approved budget in cases of unforeseen circumstances, applicable only under Action A.
All amendments are considered material and are subject to approval by the Granting Authority.
Applications for amendment shall be accepted provided that the general terms and conditions for qualification of the project for funding continue to be fulfilled and their nature is not altered.
Any new application by the same operator regarding the amendment of the terms of the decision qualifying the work for funding with the same content shall not be examined in substance and is archived. Applications resubmitted within the provided deadlines in compliance with the observations of the competent Evaluation Committee shall not be considered new applications.
Amendments hereof shall not apply to eligible costs on invoices that have been issued by natural or legal persons or other legal entities having their registered office or permanent establishment in a foreign country (foreign invoices).
The addition of new television series or mini-series episodes regardless of content cannot be the subject of an application for amendment of an existing investment project and shall require a new application for qualification for funding. Any new applications for additional television series or mini-series episodes to an existing season shall be considered an application for a second season.
The amendment in the total number of shooting days or the total number of days of other production operations included in the qualifying investment project, if done within the time limits of implementation of the investment project and keeps intact or does not significantly alter the place of shooting as described in the investment project that qualified for approval, shall be submitted as part of the final Report of the certified auditor and shall not require the issuance of a relevant amendment decision by the Granting Authority. Any amendments in accordance with the above shall require that all the necessary legal procedures for obtaining permits and declaration – notification of change of work schedules in accordance with labour legislation are maintained.
Certification of Completion and Disbursement of the Subsidy
The beneficiary may submit a request for verification and certification of the completion of the investment project at any time within six (6) months from its completion, as defined in the funding approval decision or any granted extension. The request is submitted electronically via the State Aid Information System (OPSKE), accompanied by the final audit report and supporting documentation.
The Granting Authority verifies the submitted documentation, including compliance with financial, technical and cultural criteria, within a period of up to thirty (30) working days. Where necessary, additional information or clarifications may be requested.
The completion of the investment project is certified by a formal decision of the Granting Authority following the relevant recommendation of its services.
The subsidy is disbursed within three (3) months from the issuance of the certification decision, by electronic transfer to a bank account of the beneficiary, as specified in the funding approval decision, and may not be assigned to third parties.
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Legislation in effect
In August 2017, the Hellenic Parliament passed a law (4487/2017), implementing the 25% cash rebate programme for the production of domestic and international audiovisual works. Since September 2018 (4565/2018) the cash rebate was raised to 35% and July 2020, the Hellenic Parliament passed a law (4704/2020) raising the Greek cash rebate that covers part of the eligible costs for national and international audiovisual productions in Greece, up to 40% with flexible terms for TV series and digital games and may serve as collateral for producers to obtain funds through the Greek banking system.