CYPRUS

In order to be considered Eligible Expenditure for Production, the expense element must be created during the production of the audiovisual project within the Republic of Cyprus.

Productions are required to fill out a pre-approval application, which can be found at the Film in Cyprus website. The Applicant, pursuant to the incentive for cash rebate or tax credit, is obliged to commence filming and relevant activities in the Republic of Cyprus in relation to the Approved Production within 24 weeks from the date of issuance of the temporary approval certificate. The Application must be made on the relevant application form for cash rebate or the form for tax credit, fully completed, taking into consideration the assessment criteria together with the supporting documents.

For qualifying production expenditures incurred in Cyprus by natural or legal persons from third countries and which are related to the implementation of productions, the company is entitled to a refund of VAT.