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Chile launches incentive for international audiovisual productions

InvestChile - May,6,2024

The IFI Audiovisual offers an attractive incentive for foreign productions, reimbursing up to 30% of qualified expenses incurred within the country, and 40% for those productions that are made entirely in regions outside the Metropolitan region.

cine produccion audiovisual

The Ministry of Economy, Development and Tourism in collaboration with Corfo and the Ministry of Culture, Arts and Heritage, announced the relaunch of the Support Program for High Impact Audiovisual Investments (IFI Audiovisual).

This program offers an attractive incentive for international productions, providing a reimbursement of up to 30% of qualified expenses, capped at US$3 million, incurred within the country, and 40% for those productions that are made entirely in regions outside the Metropolitan region.

Creative Industries Promotion

IFI Audiovisual seeks to promote the production of high-impact foreign audiovisual productions in Chile, which in turn promotes the growth of professional and job opportunities both in this sector and in other related ones.

The Economy, Development and Tourism Minister, Nicolás Grau, stressed that «this subsidy not only increases investment in the film industry, but also strengthens Chile's image at the international level.»

In addition, he explained that «the funds can be used to cover filming, artistic production, assembly, copyright management and post-production, among others.»

Who can apply?

Foreign legal entities responsible for the creation of an audiovisual work, which is developed wholly or partially in Chilean territory, and participate directly, or through a co-execution agreement with a national production company.

In the second case, foreign companies that apply must be majority investment percentage contributors.

The call will be open until December 31, 2024. The application form and legal basis can be found at the Corfo website here.

A clear incentive is being provided to position Chile as a leading destination for international film production, thus promoting its rich diversity of landscapes and local talent on the global stage. Learn more about the incentives for filmmaking in Chile.

Learn more about this topic here

Topics: Global services- Creative industries



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