Film financier invests in Belgrade studio
Following the Revenue's decision to close a tax partnership loophole used to fund a number of high-profile film productions in the UK, a leading film financier is investing in a film studio in Serbia.
Link: Treasury tightens grip on film tax
Grosvenor Park is going into partnership with Pink International Company, one of Serbia’s largest media groups, which is building a £11m studio in Belgrade.
Rising costs have been cited as the main reason for the decision to set up in the Eastern European city.
The film financier will take a share in the film studio in return for bringing productions from the UK across to the studio and for providing tax-effective financing.
Dan Taylor, managing director of Grosvenor Park told The Times the decision to invest in Serbia was ‘part of a growing development of alternative film production facilities outside of Western Europe’ driven by lower costs and less bureaucracy.