Latvian Co-financing programme for foreign film shooting in Latvia (Latvian co-financing fund)
Co-financing programme (Latvian co-financing fund) is targeted for granting the State budget for co-financing the filming of foreign films in Latvia - administrated by the National Film Centre of Latvia. The co-financing programme (Latvian Co-financing Fund) is open to Latvian and foreign productions planning to shoot in Latvia, and its objective is to encourage foreign investments in Latvia, create new jobs, develop the Latvian film industry and promote Latvia internationally. Latvian Co-financing programme was established in 2013. The national programme was designed given the positive example of similar co-financing programme for foreign productions planning to shoot in the capital city of Latvia Riga, namely Riga Film Fund, funded by the City Council.
Up to 25% of film related expenditure can be obtained as cash rebate when filming is completed. The eligible costs of the programme include transport, rental of premises and technical equipment, accommodation, public facilities, construction facilities, artistic and administrative work, encouraging foreign film crews to shoot in Latvia. Projects that want to be supported must fit the following criteria: full length fiction, TV films and documentary films with the minimum budget of 700 000 EUR that have confirmed financing of at least 50% of the total budget. It is possible to combine both Latvian co-financing Fund and Riga Film Fund cash rebate schemes.
Increase of the foreign productions in Latvia – films which are using Latvian locations as well as the creative force – Latvian filmmakers and film technicians.
State budget: EUR 2 266 556 from 2013 to 2016 (2013 – EUR 397 674, 2014 – EUR 426 862, 2015 – EUR 796 010, 2016 – EUR 646 010).
10 foreign film projects have been supported from 2013 to 2015. The co-financing programme attracted investment of 5,2 million EUR. The total – 0,7 million EUR in support was paid as the cash rebate. Although this type of instrument facilitates the creation of jobs in the film industry, fosters development of hospitality, catering and transport services and many more, a large scale impact assessment of the Programme has not yet been done.