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Cyprus Launches Competition For Feature Film Production Funding

The South-Eastern Europe Cinema Network (SEECN) has unveiled an exciting opportunity for filmmakers through a competition aimed at funding production plans for feature films among its member countries. Announced by the Cyprus Ministry of Culture’s Department of Contemporary Culture, this initiative seeks to support and enhance the creative output of the regional film industry.

Funding Details and Goals

The SEECN competition offers substantial financial support, with funding amounts ranging from €6,000 to €10,000, contingent on the network’s financial capacity. The goal is to boost collaborative projects that promote cultural exchange and innovation in cinema. This funding aims to provide a significant boost to filmmakers, helping them bring their creative visions to life and reach a broader audience.

Eligibility Criteria

The competition targets feature films with a minimum runtime of 70 minutes, intended for theatrical release. To qualify, proposals must be co-productions involving at least two producers from the network’s member states, which include Cyprus, Greece, Serbia, Albania, North Macedonia, Montenegro, Kosovo, Romania, and Bulgaria. This requirement encourages cross-border collaboration, fostering a spirit of cooperation and shared cultural experiences.

Submission Requirements

Applicants must submit detailed proposals by 16 September 2024. Each submission should include:

  • A synopsis of the film
  • An extended summary
  • The full screenplay in both English and Greek
  • Additional documentation in English

Two identical, bound copies of the complete production folder are required for the application to be considered. The proposals will be meticulously reviewed at the network’s General Assembly meeting scheduled for November 2024.

Selection Criteria and Operation

The selection criteria focus on the project’s potential to contribute to the cinematic landscape, its cultural relevance, and the feasibility of the production plan. The Department of Contemporary Culture will provide additional information and support to applicants. Interested parties can contact the department via phone or email and access detailed guidelines and application forms on the Ministry of Culture‘s website.

Importance of the Initiative

This competition underscores the SEECN’s commitment to fostering cinematic excellence and supporting filmmakers in the region. By providing financial assistance and encouraging international co-productions, the initiative aims to elevate the standard of filmmaking and promote cultural dialogue through the arts.

Cyprus Showcases Its Business Advantages At 2024 London Event

Cyprus seized the opportunity to present itself as a premier destination for high-net-worth individuals (HNWIs) at the ‘Non-Doms: The Cyprus Private Client Offering Gathering 2024,’ held at the iconic London Stock Exchange. The event attracted over 150 participants, including professionals from the UK and experts from Cyprus, all gathering to explore Cyprus’ business advantages.

The gathering aimed to strengthen ties between the international investment community and Cyprus, highlighting the island’s competitive tax regime and wealth management opportunities. The central focus was Cyprus’ strategic appeal for non-domiciled residents, particularly as changes to the UK’s tax framework prompted many HNWIs to reconsider their tax and residency options.

A Shift in Global Tax Dynamics

With the UK government’s decision to abolish its long-standing non-dom tax regime, Cyprus stands poised to become an attractive alternative. The UK’s new residence-based system, set to take effect in April 2025, could direct more wealthy individuals and businesses toward jurisdictions like Cyprus, known for its fiscal benefits and strategic location in the Eastern Mediterranean.

Marios Tannousis, CEO of Invest Cyprus, and George Pantelis, former Director General of the Finance Ministry, addressed how Cyprus is uniquely positioned to capitalize on this shift. Their presentations underscored the island’s stability, tax benefits, and favorable environment for both personal wealth and corporate operations.

Key Highlights from the Conference

One of the highlights of the event was the panel discussion titled “Cyprus: A Destination of Choice for HNWIs, Their Families, Companies, and Employees.” Experts like Christos Neokleous, Consultant at Tsirides Law, outlined the simplicity of doing business in Cyprus, emphasizing the ease of setting up companies and understanding the regulatory environment.

Andreas Andronicou, Partner at PwC Cyprus, discussed the significant tax advantages for both individuals and corporations looking to operate from Cyprus, especially within the European and global markets. The country’s legal framework, based on the English Common Law system, was another focus, with Melina Dionysiou, Director/Head of Corporate at Totalserve, explaining its business-friendly aspects.

A Strategic Business Environment

Cyprus’ status as an international business hub is further reinforced by its competitive tax rates, skilled workforce, and advantageous legal system. These factors, combined with its prime location, make it an ideal choice for companies seeking to expand into new markets. Moreover, the conference highlighted the island’s growing appeal to foreign investors and companies, with opportunities ranging from tax-efficient corporate structures to residency-by-investment programs.

As the world moves toward greater tax competitiveness, Cyprus is keen to attract international clients seeking efficiency and flexibility. This year’s event comes at a crucial moment, as the UK’s changes to its non-dom tax regime create new openings for Cyprus to solidify its position as a leading destination for wealthy individuals and businesses.

Global Appeal for High Net-Worth Individuals

Cyprus’ tax benefits, wealth protection solutions, and modern legal structures were the focal points of the final panel, which also explored investment opportunities on the island. Experts such as Sara Eojourian, Head of Wealth Management at Athlos Capital, discussed the array of investment solutions that Cyprus offers, particularly for HNWIs. These services not only provide personalized wealth management but also come at competitive costs, making them an attractive option for international investors.

Conclusion: Cyprus, an Attractive Option for International Clients

In conclusion, Cyprus is increasingly recognized as a top destination for both high-net-worth individuals and international businesses. Thanks to its competitive tax system, business-friendly legal environment, and strategic location, Cyprus is solidifying its status as a prime hub for foreign investment. As global tax policies continue to evolve, Cyprus remains well-positioned to provide attractive opportunities for clients and businesses seeking stability, efficiency, and significant fiscal benefits.

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