Romania revamps film cash rebate to 30% after paying off debts
10 reported
Romania has relaunched its film cash rebate program at 30% after pausing it due to outstanding debts, according to Valentin Savu, manager of the Office for Film and Cultural Investments (OFIC). The OFIC was created in 2024 to restructure the program, and the last of the country’s outstanding debts have now been repaid. The revamped incentive offers a 30% cash rebate on eligible expenses, with a €10 million ($11.5 million) cap per project and a €55 million ($63.4 million) annual budget. Since the program relaunched in July 2024, an estimated 70 film and TV projects have been or are being approved for eligibility, with nine already fully paid out. Industry professionals report that confidence is returning, with more projects being discussed and budgeted for the second half of the year. The program’s efficiency and reliability are seen as key to the industry’s future direction.
What’s reported
Romania paused its cash rebate program due to outstanding debts and suffered a production drought.
The Office for Film and Cultural Investments (OFIC) was created in 2024 to restructure and relaunch the program.
The last of Romania’s outstanding debts have been repaid.
The revamped incentive offers a 30% cash rebate on eligible expenses, with a €10 million ($11.5 million) cap per project and a €55 million ($63.4 million) annual budget.
OFIC can sign financing agreements until the end of 2026 and pay reimbursements until the end of 2028; talks are underway to extend the program three more years.
Since July 2024, an estimated 70 film and TV projects have been or are being approved for eligibility, and nine have been fully paid out.
Productions have had budgets ranging from €1 million-€3 million ($1.2 million-$3.5 million) to over €20 million ($23 million).
Past productions lured by incentives include Netflix’s “Wednesday” and Sky Studios/Canal Plus’ “Django.”
Bogdan Moncea of Castel Film Studios and Iuliana Tarnovețchi of Alien Film report increased interest and project discussions.
The Transilvania Intl. Film Festival runs June 12-21.
Key figures
Valentin Savu, manager of the Office for Film and Cultural Investments (OFIC)
Bogdan Moncea, head of production at Castel Film Studios
Iuliana Tarnovețchi, of Bucharest-based Alien Film
Tudor Giurgiu, veteran director-producer and TIFF founder
Cristian Mungiu, auteur who won a second Palme d’Or at Cannes for “Fjord”
Sources: Variety
