The Faroe Islands has dramatically increased its film reimbursement cap per annum from EUR25,000 (200,000 DKK annually) to EUR540,000 (4m).
A new government was elected in December. However, it is still finalizing the rules for reimbursement. However, it is expected to go into effect in March. It offers a 25% rebate for budgets above EUR500,000. A 35% incentive may be available for larger productions.
Located halfway between Scotland in the Northeast Atlantic and Iceland in the North Atlantic, the Faroe Islands (population 53,000) are an archipelago consisting of 18 mountainous islands. Tina i Dali Wagner has been lobbying for an increase in the cap since she assumed the role as head of the Film Institute. She stated that there are at least three to five projects coming from abroad at an advanced stage who would like to shoot in the Faroe Islands. Some of them want to shoot later in the year.
Local productions with some intenational investment will also be eligible for reimbursement.
“The government can see that it’s not just supporting films, it’s an investment that creates an industry,” she added.
The best example of an industry boost so far has been Torfinnur Jakupsson’s
Trom, a Danish-Faroese co-production that was the first major TV drama shot in the Faroes. REinvent funded and sold the seres, which have been aired internationally on Viaplay (Nordic region, USA and Japan), the BBC in the UK, ZDF/Arte Germany and France, AMC+ in Latin countries and SBS Australia. The Faroe Islands have lost several major shoots due to a lack of an incentive. Although the US studios had scouted Faroe Islands for major projects, they have not yet committed to production. The island provided a famous backdrop for James Bond film
No Time To Die, where the climax happened at Safin’s lair on Poison Island.Transformation
The reimbursement is administered by the ministry of trade; the ministry of culture has also this week boosted the funding for a smaller local film fund and the Film Husid’s operating budget.
“It’s really exciting, this really will change things in the Faroe Islands,” said Dali Wagner.
“It’s really thrilling, this really will alter things in the Faroe Islands,” stated Dali Wagner.
The Faroe Islands participate in the European Film Market in the Martin Gropius Bau as part of the Scandinavian Films group. A delegation of 20 filmmaking talent are in town for meetings.
“We came to Berlinale 2019 to announce our Film Institute, we had new films and projects to discuss, as well as Anton Petersen’s
Love acts, now in production and Sakaris Stora’s second feature The Last Paradise on Earth currently in post. Additionally, Andrias Hoggeni plans to follow his Cannes-selected short with debut feature Anything For Her, he hopes to shoot in 2023.Brouhaha Entertainment team talk “insane” 12 months, new Kristen Stewart, Helen Mirren projects