The Jamaica Film Fund is a resource currently being developed for the purpose of encouraging the development of the local film industry. This kind of resource is being made possible to boost the support for filmmakers, animators and producers to realise content that is of international market standards and global in its appeal. The Fund is in the early phases of development and is expected to come on stream by 2021.
Film Financing & Incentives
Jamaica Film Fund
The CHASE Fund was originally enabled in 2002 from provisions from the betting and gaming industry but is now operated through The Consolidated Fund. The Fund currently allots 15 percent of its grants & contributions towards Arts & Culture and such applications may be made on an ongoing basis through its website for creative projects.
CHASE has already shown its support of the developing local film industry through its partnership with JAFTA and JAMPRO on the PROPELLA! script to screen programme to encourage emerging filmmakers. On a case by case basis local producers, content creators, animators and filmmakers may also submit proposals for all or part funding of projects or the research and development of projects. For The Arts, the Fund has particular focus on the improvement and maintenance of libraries, archives and documentation facilities and heritage sites. There is also support available through the Fund for specialised study and training in the area as well as other exhibition, creation and preservation activities which will preserve and document Jamaica’s culture.
Other Funding Sources
For filmmakers and screen-based creatives there is a wealth of resources available online. We have selected a few which are specifically focused on The Caribbean, new and emerging filmmakers and developing film cultures. There are also resources which provide tools for searching and finding the best fit for you. A few leads to start you off on finding funding for your projects have been included below:
- Development Bank of Jamaica – http://dbankjm.com
- EXIM Bank – http://www.eximbankja.com/
- Tourism Enhancement Fund – http://www.mot.gov.jm/agency/tourism-enhancement-fund
- Olffi – www.olffi.com – https://www.olffi.com
- World Cinema Fund – https://www.berlinale.de/en/branche/world_cinema_fund/wcf_profil/index.html
- The Hubert Bals Fund – https://iffr.com/en/hubert-bals-fund-0
- Women In Film/Netflix Finishing Fund – https://womeninfilm.org/film-finishing-fund/
- IFP Independent Narrative Lab – http://www.ifp.org
- Bertha BRITDOC Connect Fund – http://berthafoundation.org/storytellers/
- Bertha BRITDOC Documentary Journalism Fund – https://docsociety.org/bertha-journalism/
- Independent Lens – http://www.pbs.org/independentlens/
- IDFA Bertha Fund – https://www.idfa.nl/en/info/idfa-bertha-fund
- The Global Film Fund – https://www.globalfilmfund.org
The main incentive available to filmmakers and content creators for production are:
- The Employment Tax Credit (ETC) which reduces Corporate Income Tax liability. ETC provides for a maximum of 30 percent credit for local companies’ Pay As You Earn (PAYE) obligations, which can reduce income tax liability to as low as 17.5 percent.
- Bond Waivers for foreign productions. Foreign producers who register their productions with the Film Commission can access bond waivers on all approved equipment being imported temporarily.
- Duty-free importation on Equipment and Machinery and Productive Incentive Relief (PIR). The PIR allows filmmakers to import products for use in your productions without an import duty charge being applied. Musicians and filmmakers are the main beneficiaries of this incentive and can access it by signing up online for The Entertainment Registry. The Entertainment Registry lists creatives in the music and film industry which allows for confirmation as an industry professional. The PIR exemption however doesn’t preclude production companies from customs duty and Additional Stamp Duty. Under this incentive programme some of the types of goods that may be imported are tools of trade for the film and music industry. For more details on what goods and incentives are covered under the PIR visit Jamaica Customs.
- Double Taxation Avoidance Agreements (DTAAs), which govern the levying of taxes, by two or more jurisdictions, on the same asset or income.
Jamaica currently has a co-production treaty arrangement with Great Britain. It is one of the first treaties of this nature to be signed between the UK and a Caribbean nation. This treaty allows access to technical and financial resources for Jamaican productions. It also allows access for member states of the Caribbean Single Market Economy to benefit from this agreement through Jamaica. In turn it also allows Jamaica access to other countries who have signed co-production treaties with the UK. British producers who work with Jamaican producers will be able to access benefits such as tax breaks, pro bono production support and duty free importation.