2020 Cyprus Country Report

Film Production
Sector Profile
JOINING
THE A-LIST
Cyprus has attracted significant interest from the global film community
in the last two years, following the launch of its fiscal incentive scheme.
Despite the devastating impact of the coronavirus pandemic on the
international film industry, the future of Cyprus film and the appeal of
the island as a versatile filming location continues to look bright.
Cyprus has set its sights on claiming a
stake in the international film industry
by providing the right incentives
to maximise its untapped potential
as a filming location, along with the
multitude of other competitive advantages
it offers as an investment
destination.
The country has garnered the attention of international
film producers and placed itself firmly
on the world cinematic map as an interesting and
cost-effective film location. The official launch of
its long-awaited incentive framework in 2018 established
the island as a new Mediterranean film
location branded ‘Olivewood’ and promptly attracted
multimillion-budget movies headlining
Hollywood stars such as Nicolas Cage and William
Baldwin. These films employed more than 400
Cypriot film professionals proving the scope of
crew and talent available in the country to cater to
international big-budget film productions. Since
then, producers from Hollywood, Bollywood and
many other European countries have been eyeing
up the island for future productions thanks to the
significant perks provided by the scheme.
The local industry, albeit small in size, is also
flourishing with talent and ideas. Films shot
and produced in Cyprus have been screened at
the Cannes and Venice Film Festivals, and have
won awards and acclaim at the Tribeca, Quebec
and Palm Springs Film Festivals over the last few
years.
Due to the Covid-19 pandemic, 2020 has seen
major film release dates and many film festivals
cancelled or postponed, both local ones like the
Cyprus Film Days Festival and prestigious international
ones like the Cannes Film Festival, and
productions all over the world have ground to a
halt. There is no denying these are challenging
times for the creative industry, but the long-term
future remains bright. Cyprus has long been on
the radar of the international film community
and hosts a solid local industry with international
expertise to support the growth of this sector.
This, coupled with the introduction of one of the
most advantageous fiscal incentive schemes, presents
a new opportunity for Cyprus to promote
itself as a top filming destination and to enter the
international audiovisual market with an attractive
proposition.
KEY
contacts
Invest Cyprus
www.investcyprus.org.cy
Cyprus Film Commission
www.film.investcyprus.org.cy
88 Country Report CYPRUS 2020