After almost a decade of entering force Law 1556 of 2012, better known as the film law for the promotion of the national territory, and thanks to its extension for another 10 years, the possibilities for audiovisual production and export services in the country are increasingly attractive to global industry, which now finds itself with a well-trained union to execute projects that can get important benefits within the framework of application of this law.
The extension not only affects its validity period, but now covers products that were not considered in their first stage. A couple of years ago it was necessary to do tricks to present non-cinematographic works of an audiovisual nature to the Colombian Film Commission so that they could be included in the select group of beneficiaries of the 1556, which has changed since 2020, expanding its coverage to any audiovisual content that meets the requirements of time, national spending and established budget, this is how series (television, premium or web), video games, music videos, reality, shows, commercials and other formats were sheltered among the beneficiaries of this normative.
When we talk about the changes of 1556, there is another important aspect, the appearance of the CINAS. Previously, there was only the Cash Rebate, a reduced capital stock approved annually in the national government plan and limited by the national budget, that left many projects out when the resource was copied. The CINAS, (Audiovisual Investment Incentives certificates), meanwhile, are a tax discount on investment in Colombian audiovisual talent, logistics and services. Although it has a bag with an investment cap, this second option boosted the industry, since it admits a greater number of beneficiaries.
The support that the law offers, in terms of economic benefits and its natural and cultural conditions, makes Colombia an ideal setting for producers from all over the world and investors to find what they need in the execution of a project.
As executive producer of Studio AYMAC, a company with which we carry out production services, I’m convinced of the viability and economic benefits that international producers and investors find profitable when deciding to execute a project in the country.
With Studio AYMAC, we have entered the field, making available not only our experience, technical and artistic quality but also the conviction that we can be your allies in the search for the best for each project, so if you want to count on us, we invite you to contact us in the production and post-production stage of your work so that we can evaluate together the possibilities that you will find in our national industry.
To close this article, which is just an appetizer, I invite you to consider the Colombian market –for the currency exchange, the sunsets, the short distances with varieties of locations and climates, the VAT exemption and the reimbursement of audiovisual services expenses, and logistics of 35% in CINAS and 40% in audiovisual services and 20% in logistics in Cash Rebate-, evaluate your possibilities, consider our industry that besides all these aspects is at the forefront of technology and quality.
Create a quality product and receive budget savings and a return on investment.
Don’t forget to contact us if you have questions about your chances of benefiting from this law. Request your first COMPREHENSIVE ADVICE FOR THE PRESENTATION AND ENFORCEMENT OF FILM LAW through the email firstname.lastname@example.org – It’s totally FREE -.