The five-year Italy-Mexico co-production agreement comes into force.
The Chamber of Deputies and the Senate of the Italian Republic have approved the ratification and execution of the Film Co-production Agreement between the Government of the Italian Republic and the Government of the United Mexican States.
In order to receive the envisaged benefits, film co-productions (including animation and documentary projects) of any duration must be produced by Italian and Mexican producers and be available in at least Italian and Spanish language versions.
As indicated in Law No. 166 of October 28, 2021, co-productions must comply with the following conditions:
- For each film co-production, the proportion of the respective contributions of the co-producers may range from 20% to 80% of the total cost of the film co-production.
- In the event that the co-producers consist of more than one production company, the proportion of each individual company’s contribution may be 10% of the total cost of the film co-production.
- The minority co-producer must pay the balance of its financial contribution within 120 days from the date of receipt of the material necessary for the production of the version intended for the minority country. Failure by the minority co-producer to comply with this obligation shall result in the forfeiture of the film co-production without prejudice to the conditions for granting nationality to the majority country.
- Film co-productions must be made by directors, technicians, and artists of Mexican and Italian nationality or permanent residents of the United Mexican States or long-term residents of the Italian Republic, in accordance with their respective laws. As far as the Italian Republic is concerned, film co-productions may also be carried out by directors, technicians and artists who are citizens of the Member States of the European Union.
- For cinematographic co-production needs, the participation of technical and artistic personnel of different nationalities than those mentioned in paragraph “4” above may be admitted only exceptionally, upon agreement between the competent Authorities of the Parties.
- Film co-productions shall achieve an overall balance in artistic participation, financial contributions as well as technical means, studios and laboratories. The Joint Commission, provided for in Article XII of this Agreement, shall examine the existence of such balance and, in case it is not found, shall determine the measures deemed necessary to achieve it.