Andrei Zinca, founder, Double 4 Studios (www.double4studios.com) and producer of the “Romania Welcomes Hollywood” panel at AFM last year, today announced the approval of a 20-25% rebate for films shot in Romania. The highly anticipated initiative discussed at the 2017 panel that featured Zinca, award-winning producer Ada Solomon, Skydance Media US vice president of production Robert Bernacchi, Fame Film Romania co-owner Andrei Boncea, Castel Film Studios producer Bogdan Moncea and Board Member of Romanian National Film Centre Mihai Fulger.
In April 2018, the Romanian Government adopted a memorandum for implementing the production incentive scheme to attract foreign investment to the local film industry, creating the means for the government to ratify the bill, which is expected to be adopted by June 2018.
Newly-appointed Romania Prime Minister Viorica Dancila quickly made this important move that will attract international filmmakers to choose Romania as a favorite film production destination. An annual budget for the incentives will be utilized and considered on a first come, first served basis. Cash back for each production is projected to be capped and would require a minimum investment threshold, with eligibility only if the territory expense is above 500,000€.
For more information, visit www.double4studios.com