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Canary Islands Attract Production With Exotic Locations, Generous Rebate

Variety logo Variety 5/5/2017 Variety Staff
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A collection of seven islands and smaller islets located in the Atlantic Ocean 62 miles west of Morocco may seem to be an unlikely destination for major filming projects, but the Canary Islands have long attracted movie productions with their stark landscapes, picturesque villages and favorable climate. The archipelago, an autonomous territory of Spain, also offers a generous 35% rebate on qualified spend.

The islands are a major tourist destination as well, pulling in over 12 million visitors a year who flock to sample their white-sand and black-sand beaches, ocean views, and looming volcanoes – which have also served as backdrops for multiple films. Urban locations include the twin capital cities of Santa Cruz de Tenerife and Las Palmas Gran Canaria.

Incentive specifics are as follows. A 35% rebate is available for qualified spend. This requires a minimum spend of €1 Million, or approximately $1.09 million. The project cap is €4.5 million, or about $4.9 million, and the compensation cap stands at €50,000, or about $54,500.

Recent large feature films shot in the Canary Islands include “Jason Bourne” (2016), “Allied” (2016), “Wild Oats” (2016), “In the Heart of the Sea” (2015), “Exodus: Gods and Kings” (2014) and “  Fast & Furious 6” (2013).

Incenitves
35%Rebate on qualified spending
$1.1mMinimum spend
$4.9mProject cap
Information courtesy of EP Financial Solutions, a production incentive consulting and financial services company.

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