Foreign producers can apply for state support for film production in Latvia

From June 10 to July 10, 2024, foreign film producers can submit their projects for the state budget co-financing competition managed by the Investment and Development Agency of Latvia (LIAA).

"The film industry offers substantial added value, as the investment provided through Latvian co-financing is expected to return to the state budget upon project completion. We are delighted that companies like Netflix plan to develop their projects in Latvia. Since 2022, Latvia has successfully attracted EUR 23 million in investments through this programme," stated Raivis Bremsmits, Director General of LIAA.

In addition to the current requirements, a film's budget plan requires that the value-added tax contribution to the state budget is at least 14% of the total eligible costs to qualify for Latvian state support. Furthermore, state co-financing will cover 20% of the eligible expenses outlined in the co-financing agreement. Additionally, the project must generate at least €5 in exports for every euro of planned co-financing, promoting sector growth, increasing export turnover, and enhancing Latvia's economic image.

LIAA, along with industry professionals, participates in the Berlin and Cannes Film Festivals every year to promote filmmaking opportunities. Several producers planning to realize their projects in Latvia were also approached this year. One of the most prominent foreign productions to have received state support is the TV series SISI, which has been in production in Latvia for several years.

The funding allocated for the 7th round of the competition is €500,000. For more information and to apply for support, visit https://business.gov.lv/en

The competition seeks to attract foreign investment to the Latvian film industry and other sectors by providing support for producing foreign films, including fiction, animation, documentary, and television films, within Latvia.