Today, lights, cameras, and actors are coming to the Central American country following the introduction of Panama’s New Film Incentive for Video Productions. A greater incentives program for international film production companies that provides an investment rebate of 25% for foreign productions investing more than $500,000 in expenses on Panamanian soil.
This new incentive has already attracted many big TV reality shows, who are taking advantage of this rebate. TV shows like MTV’s The Challenge, are examples of big production companies who have found Panama an attractive location for these reality tv shows.
Panama offers a great climate all year round and paradisiac tropical locations, from rainforest jungles to white sandy beaches on both of their coasts, the pacific ocean side, and the Caribbean Oceanside.
But hold on your horses, this film incentive has some requirements to comply with in order to be eligible for the rebate. One of the main requisites is that the production needs to be supported by a reputable local production company, that can offer the experience and legitimacy to conduct such production.
So, a local production company, certified by the local authorities, is one of the main requisites to comply with the Panamanian Film Incentive, hence obtaining the 25% cash rebate.
Our agency was able to confirm a handful of local production companies that are certified to offer this incentive. We found 40 Grados Producciones, as being the most qualified to offer professional support, as they have already assisted many international productions under their belt, including one for an important Polish production company that shot a high budget, long-term production under their assistance.
Until the end of 2022, there have been over 80 international productions shot in Panama, a number that certainly will be increasing with this new film incentive.
Read more articles like this one here. Another Superyacht Arrives in Panama – Le Bellot
