Support Schemes
SUPPORT SCHEMES
Support schemes
There are two ways in which filmmakers in Iceland can seek official financial support: by applying for grants from the Icelandic Film Fund and by applying for reimbursement for 20% of production costs incurred while filming in Iceland.
Further, Iceland is a member of the MEDIA Program of the European Union, of Eurimages, the European fund of the council of Europe based on the European Convention, and the Nordisk Film & TV Fond. Iceland is also party to a co-production agreement with Canada and bi-lateral co-production agreements with Britain and France.
Since Iceland is a member of the European Economic Area, films and television programmes made in Iceland generally receive European content status. This entitles Icelandic productions to be classified as European material when released in Europe, without affecting any quotas on the release of non-European content material there.
APPLICATIONS TO THE FILM FUND
Production companies that are registered in Iceland can apply to The Icelandic Film Fund for financial support.
The Icelandic Film Centre operates according to law (link in Icelandic only) dating from 2003. When dealing with funding applications for film or television projects, the Centre follows Regulations on the Icelandic Film Fund set by the Ministry of Culture and Education. The Regulation in whole can be found here.
The Regulation concerning The Icelandic Film Fund stipulates the following:
„The Icelandic film fund shall operate under the auspices of the Icelandic Film Centre. The role of the Icelandic Film Fund is to promote Icelandic filmmaking by providing financial support. An Icelandic film is a film which is produced and sponsored by Icelandic parties or is a co-production of Icelandic and foreign parties. A project supported by the Icelandic Film Fund must have connections with Icelandic culture unless special cultural grounds exist for deceiding otherwise.“ (Chapter one, article one of the Regulation).
For further enquiries please contact the Icelandic Film Centre´s Head of Production and Finance at:
sigurros(at)icelandicfilmcentre.is.
FILM IN ICELAND - 20% REIMBURSMENT
Special legislation has been passed in Iceland which aims "to enhance domestic culture and promote the history and nature of Iceland" by temporarily supporting motion pictures and television programmes produced in Iceland. Reimbursements are offered for film and TV production costs incurred in Iceland. Producers can apply for reimbursements from the State Treasury of 20% of the costs incurred in the production of films and television programmes in Iceland. When more than 80% of the total production cost of a motion picture or television programme is incurred in Iceland, the reimbursement is calculated on the basis of the total production cost incurred within the European Economic Area. The reimbursement scheme does not cover production of commercials or music videos.
Applying for the 20% reimbursement is a straightforward procedure. Applications are sent to the Ministry of Industry and must be submitted before commencing production. A committe appointed by the Minister of Industry deals with the reimbursement applications.
Please note that to be eligible for the 20% reimbursement scheme, production companies are required to be registered in Iceland.