According to the ICA, from today onwards, film and audiovisual producers can access the first phase of applications for the 2024 Tourism and Cinema Support Fund (FATC), with an allocation of seven million euros, and whose criteria for assignment is no longer that of the order in which the request was entered.
The FATC access regulations were changed in response to what happened in previous years, when the available funds only covered the first applications that were received, leaving dozens of applications out.
In 2023, for example, the first phase of applications exhausted the planned budget, of around 7.6 million euros, in just a few minutes: Of the 50 applications received, only 12 projects were financed.
The second phase did not open, with the guardianship deciding to reevaluate the program and distribute the available amount, of six million euros, to the projects that had been left out in the first phase.
FATC was created in 2018 with an incentive mechanism (‘cash rebate’) to support cinematographic and audiovisual production and capture of international filming for Portugal, having supported Portuguese projects, such as “Rabo de Peixe”, and international projects in which Portugal emerged as a local co-producer, such as the film “Fast and Furious 10”.
After a reevaluation and approval of an extension of the FATC until 2026, the Government changed some rules for admission to the incentive, namely in the eligibility requirements, with the order of entry being just one of the criteria, of a point system.
“Exceptionally, in the calendar year 2024, the deadline for submitting applications for the first phase is 60 days”, reads the regulations. The maximum amount of support per project is 1.5 million euros.
The second phase of FATC applications must begin by September 30th.
For this year, the Government created an incentive (‘cash refund’), applications for which also open today, and which is complementary to the FATC incentive, with a maximum amount of 20 million euros.
This incentive is intended to support productions “that carry out at least 2.5 million euros of eligible expenses in national territory”, reads the regulation.
By comparison, in the case of the FATC incentive, the granting of support depends on eligible expenses in Portugal of at least 200,000 euros or 500,000 euros.
The new incentive is intended to be awarded to film and series projects with a larger budget and that take into account, for example, cultural value, percentages of filming in national territory, whether or not the Portuguese language is used, project sustainability, cast participation, technical teams.
The maximum amount to be allocated to each project is six million euros per cinematographic or audiovisual work.
Source: LUSA | April 1, 2024
Tags: Applications film audiovisual production incentives open today
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