CASH REBATE
PIC Portugal Cash Refund Incentive (Big-Budget)
ICA (Instituto do Cinema e do Audiovisual)
Last verified 5 Apr 2026 · 14 days ago
30–40%
Cap per project
€20M
Min qualifying spend
€2.5M
Sessions/year
2
Payment timing
8 months
Reliability
Fair
Bankability
Selective
Rate conditions
↓ 25%Surplus above €2 million
Funding tracks
First €2 million
First €2 million of eligible expenditure
Up to €600,000
Surplus above €2 million
Expenditure above €2 million
Variable based on surplus
Territorial spend requirement
Production expenditure relating to production activities carried out in Portugal but contracted with service providers established in other EU or EEA states, up to a limit of 20% of the eligible expenditure in Portugal, is also considered eligible
Min €2,500,000 in territory
Overview
At the end of 2023, the State Budget Law for 2024 established a new incentive scheme for production: the Pic Portugal - Cash Refund Incentive.
Eligible formats
animation
Eligibility
Minimum €2.5 million eligible expenditure in Portugal required. Applicants must be companies subject to corporate income tax (IRC) with film/audiovisual production corporate purpose and be registered in the Register of Cinematographic and Audiovisual Entities. Cultural test score required.
● Co-production eligible● Service work eligible● Cultural test required● VFX eligible
Upcoming deadlines
25 Aug 2026Application deadline
3 Oct 2026Application deadline
Source: ICA (Instituto do Cinema e do Audiovisual) · verified 5 Apr 2026