The VFX industry has seen recent mass migrations to tax-friendly locales overseas. Until now Belgium hasn’t been one of those major runaway destinations. But European film company uMedia has unveiled a new financing deal through its VFX division uFX offering up to 40% of a project’s VFX budget for work done in-house. CEO Adrian Politowski announced the sizable offer today in Cannes. Brussels-based uMedia has additional international offices in LA, London, and Paris but its new scheme is made possible by a Belgian tax shelter. Eligible productions must spend a minimum of €50,000 through Belgium and must be a feature film, a TV movie, a TV series or documentary with a majority of European cast, crew and financing in place. The company’s recent credits include work on the Weinstein Company’s Grace Of Monaco and DreamWorks’ WikiLeaks pic The Fifth Estate.
By JEN YAMATO | Wednesday May 15, 2013 @ 7:25pm PDTTags: Big Deals Film, Big Deals TV, Cannes, uMedia, VFX
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