Chile is encouraging international audiovisual productions with an attractive tax incentive program

The relaunched Support Program for High Impact Audiovisual Investments (IFI Audiovisual) provides reimbursements of up to 30% of qualified expenses, capped at US$3 million, for foreign productions made in the country. Furthermore, the program offers a 40% reimbursement for productions entirely made in regions outside the Metropolitan region.

The IFI Audiovisual aims to promote high-impact foreign audiovisual productions in Chile, leading to the growth of professional and job opportunities in this sector and beyond. The subsidy boosts investment in the film industry and enhances Chile’s international image. The Ministry of Economy, Development and Tourism collaborates with Corfo and the Ministry of Culture, Arts and Heritage to implement this program.

Foreign legal entities can apply for a program that supports the creation of audiovisual work in Chile. The work must be developed wholly or partially in Chilean territory, and the applicant must participate directly or through a co-execution agreement with a national production company.

The foreign company must be the majority investment contributor if applying through a co-execution agreement. Applications will be accepted until December 31, 2024, and can be found on the Corfo website. This program aims to position Chile as a primary destination for international film production, promoting the country’s diverse landscapes and local talent globally. Discover more about the incentives available for filmmaking in Chile.

Source: InvestChile

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