Film Co-Productions with Italy: the Best Partner Countries and Their Incentives Compared

Co-producing with Italy gives a film access to the Italian tax credit and Ministry of Culture funding, to Italian locations and crews, and to a wider European market. Whether a project qualifies as an official co-production, rather than a simple co-financing deal, depends on the legal framework linking Italy to the partner country; how much it is worth depends on the partner’s incentives. This guide compares Italy’s main partners on both. For the rules of the multilateral framework, see our guide to the European Convention on Cinematographic Co-production.

How an official co-production works

An official co-production is recognised by the competent authorities of each country involved: in Italy, the Direzione Generale Cinema e Audiovisivo of the Ministry of Culture. Once recognised, the film is treated as a national work in each country, and each co-producer can access the funding of its own country for its share. The legal basis can be a bilateral co-production agreement between Italy and the partner country, or the Council of Europe Convention on Cinematographic Co-production, for multilateral projects and for bilateral projects between Parties that have no bilateral agreement with each other. See our guide to Italy’s co-production treaties.

One rule applies to every incentive below: each country rebates only the spend made on its own territory, usually through a local co-producer or service company. A co-production does not let you claim one country’s incentive on the whole budget, and the same invoice can never be used in two countries.

Italy’s co-production partners compared

Rates and caps change every year, and thresholds differ by format. Confirm current rules with each national film body before fixing shares in a deal memo.

France, Germany and Spain

Italy’s main European partners are linked to it by bilateral agreements and by the European Convention:

• France — the Italy–France agreement is one of the most used in Europe, and the two countries run a bilateral fund for co-development and co-production. French co-producers combine CNC support and regional funds with the Italian tax credit, often with Eurimages on top;
• Germany — German co-producers bring the federal rebate and regional funds, which usually require spending in the region concerned: their obligations must be planned together with the Italian shooting and post-production schedule;
• Spain — Spanish co-producers access national and regional incentives, including the higher rates of the Canary Islands. Italy–Spain co-productions are frequent in animation and in projects aimed at Latin American markets.

Belgium: the Tax Shelter

Belgium’s Tax Shelter is different from every other incentive in the table. It is not a rebate paid to the production: Belgian companies invest in the film and receive a tax exemption in return. In practice it lets producers finance roughly 38–40% of eligible Belgian spend. It is open to Belgian productions and to international co-productions with Belgium, and requires a certified Belgian co-producer, which must make the eligible expenses within 18 months of signing the framework agreement (24 for animation). Belgium is a natural partner for post-production, and its regional funds can be added on top.

Poland, Romania and Central Europe

Poland offers a 30% cash rebate on eligible Polish costs, run by the Polish Film Institute on a first-come-first-served basis from 1 January each year, with a cap of PLN 15 million per project and a cultural test. A Polish partner or a registered Polish branch is required. The Institute also supports minority co-productions through a dedicated scheme with three calls per year, which makes Polish producers active partners for Italian projects. Poland is also where our Central and Eastern European network starts.

Romania relaunched its 30% cash rebate in 2024 under a new body, OFIC, and in 2026 extended it to 2029, while its new Cinema Law introduced support for minority co-productions. See our guide to the Romanian cash rebate.

Sweden and the Nordic countries

Sweden, Norway and Denmark have all converged on a 25% national cash rebate, with different thresholds and administering bodies; in Sweden the rebate is managed by Tillväxtverket, the Agency for Economic and Regional Growth, while regional funds such as Film i Väst co-finance projects that shoot or post-produce in their region. Italy has no bilateral treaty with Sweden, so Italy–Sweden co-productions are made under the European Convention. One point to check early: Nordic public funds generally require the application before principal photography.

Portugal

Since February 2026, Portugal’s incentives are combined in a single programme, SCRI.PT, with a budget of €350 million for 2026–2029. Below €2.5 million of Portuguese spend, a cash rebate of 25–30% applies, depending on a cultural test; above it, a cash refund of 30% on the first €2 million and 25% on the rest. Italy and Portugal also run a bilateral development and co-production fund.

United Kingdom

After Brexit, UK producers no longer have access to EU programmes such as Creative Europe MEDIA, but the United Kingdom remains part of the Council of Europe framework. Italy–UK official co-productions are therefore usually structured under the European Convention, alone or as part of a multilateral project. The UK’s own incentives and the Italian tax credit can then be combined, each for its own share of the production.

United States

The United States has no film co-production treaties, including with Italy, so a US company cannot be an official co-producer of an Italian film. US projects usually work with Italy through executive production services, with an Italian company accessing the tax credit for foreign productions; through co-financing of an Italian or European official co-production; or through a European structure in which the US company comes in as financier or sales partner.

Japan and South Korea

Italy and Japan signed a film co-production agreement in Tokyo on 28 June 2023, in force since 9 August 2024. On 7 September 2026 Italy and the Republic of Korea signed their first agreement, which will apply once ratified. It provides a 20–80% range, which both authorities can extend to 10–90%, and 10–70% for multilateral co-productions; it excludes purely financial co-productions; and it gives each co-producer a share of the original master while leaving intellectual property rights to the co-production contract. We analyse this clause in our article on MediaLaws (in Italian).

What every co-production agreement needs

• the title, authors, director and budget, with each co-producer’s financial, creative and technical contribution;
• ownership of the rights and of the master, territories and revenue sharing;
• the spending obligations of each country’s incentive and how they are allocated;
• cost overruns and savings, and what happens if recognition is refused in one country;
• decision-making, final cut and festival submission;
• credits, insurance and dispute resolution;
• clauses on the use of artificial intelligence, which Italian tax credit rules now require;
• a complete chain of title for the underlying rights.

Frequently asked questions

Which country is the best co-production partner for Italy?

It depends on the project. Belgium’s Tax Shelter suits post-production and French-language projects, Poland and Romania offer 30% cash rebates and lower costs, Portugal combines a cash incentive with a bilateral fund, and France and Germany bring the deepest public funding. The right partner is the one whose incentives match where the money will actually be spent.

Can I combine incentives from different countries?

Yes, in an official co-production each co-producer accesses its own country’s incentives for the spend made there. The same expenditure cannot be claimed twice, and total public aid is subject to State aid limits.

Is there a co-production agreement between Italy and Sweden?

No bilateral treaty. Italy–Sweden co-productions are made under the European Convention on Cinematographic Co-production.

Can a US company co-produce a film with Italy?

Not as an official co-producer, because the United States has no co-production treaties. A US company can work with Italy through executive production services and the Italian tax credit for foreign productions, as a co-financier, or as a sales and distribution partner.

Is the Italy–South Korea co-production agreement in force?

Not yet. It was signed on 7 September 2026 and will enter into force once both countries have completed their ratification procedures.

What is the difference between a co-production and co-financing?

In an official co-production each co-producer is recognised by its national authority, brings a creative and technical contribution and shares ownership of the film. In co-financing a partner invests money, usually in exchange for revenue or rights in a territory, without becoming a recognised co-producer.

Further reading

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