WHAT IS ICOF ?
The International Co-Production Fund (ICOF) is a selective fund given by the Film Development Council of the Philippines (FDCP), through the Film Philippines Office (FPO). It provides a non-recoupable grant to qualified co-productions between Filipino companies and international partners, supporting the production of eligible projects and expanding their global reach.
- International co-production between the Philippines and any foreign country
- At least 60% confirmed funding by the time of application
- At least 10% equity share from the Filipino producer
- Production starts within a year (6 mos. for short films) from selection
- Project completion within 1 year and 9 months (1 year for short films) from selection
- The project is wholly or partly made in the Philippines, be it production (studio or location shoot), animation work, and/or post-production (visual effect, 3D conversion, editing, music and scoring, sound design, editing and mixing, voice overs and color grading, among others)
Filipino production companies, animation studios, or post-production studios that meet the following qualifications:
- Organized and registered as a business in the Philippines
- Co-producing an eligible project with a foreign production company.
- Holding at least a 10% equity share in the project.
- An active member of the FDCP National Registry.
-
No pending obligations and/or outstanding deliverables with the FDCP or any of its programs.
Note: An applicant shall be considered ineligible if the company, its proprietors, or its authorized representatives have any pending obligations and/or outstanding deliverables with the FDCP or any of its programs.
- Any genre, except pornography, provided it does not insult or negatively portray the Philippines, threaten national security, or promote violence.
All documents submitted shall be in English or accompanied by an English translation.
- Fully-accomplished application form.
-
Notarized co-production agreement between the applicant and the foreign co-producer/s reflecting the following:
- Partners announced in the financing plan
- Respective contribution
- Expected revenue streams
- Proof that the foreign co-production company is eligible to conduct business in their country (e.g. business permit)
- Letters of agreement from all declared confirmed financial sources
- Copy of the script (or project treatment for non-scripted formats)
- Project dossier with vision statements from the producer and filmmaker (must include logline, cast, mood board, storyboard, filmography, URL to teaser and/or inspired short film)
- A copy of the scriptwriters’ authorized agreement for original work, or authorization letter from the copyright holder for adapted work
- Recorded video pitch
- Certificate of registration from the FDCP National Registry for Companies (NRC)
If applicable:
- Distribution, transmission, broadcast plan or agreement (for projects with a distributor)
- Screening link to a minimum of 30 minutes rough cut (for applicants of post-production expenses)
- Accomplished cultural test with a passing score (for applicants of Cultural Bonus)
Qualified Philippine Production Expenditures (QPPE) refer to eligible expenses incurred in the Philippines for the production of the project, in accordance with ICOF guidelines. QPPE serves as the basis for determining the proper utilization of the grant and ensures the responsible and lawful use of government funds.
The following expenses are recognized as Qualified Philippine Production Expenditures:
- Rights acquisition
- Salaries, wages, and social contribution
- Technical goods and services
- Project related overheads
- Post-production and animation
- Accommodation
- Meals
- Transportation and travel expenses
- Legal costs
- Producer's fee, not exceeding ten percent (10%) of the total approved grant
Eligible projects shall be evaluated based on the following criteria:
- Degree of participation of the Filipino producer in the overall production of the project
- Global appeal and quality of the project
- Contribution of the project to the Philippine film industry and the economy
- The financial strength and stability of the project
- Promotion of Philippine culture and its territories
- Distribution potential and ability to reach audiences
Selected projects will receive funding ranging from:
- PHP 3 Mn to PHP 10 Mn (≈USD 51,000 to USD 169,000) for feature films
- PHP 1 Mn to PHP 5 Mn (≈USD 17,000 to USD 85,000) for documentary and short films
- PHP 4 Mn to PHP 10 Mn (≈USD 68,000 to USD 169,000) per season for series
Projects may also apply and qualify for supplementary bonuses.
ASEAN Bonus - A guaranteed PHP 1Mn (approx.USD 17,000) for projects co-produced with at least one other ASEAN country, aside from the Philippines.
Cultural Bonus - Projects that pass the Cultural Test (attached as Annex A) will receive:
- PHP 2 Mn (≈USD 34,000) for feature films or series
- PHP 1 Mn (≈USD 17,000) for documentary and short films
*Based on USD 1 to PhP 59 conversion
The application periods for submission for FPI are as follows:
CYCLE 1
Application period: FEBRUARY
Evaluation: MARCH
Announcement: APRIL
CYCLE 2
Application period: JULY
Evaluation: AUGUST
Announcement: SEPTEMBER
In the event that the Film Philippines Incentives budget for the year has already been exhausted, the succeeding application period of that year will be closed.
WHAT IS ICOF ?
The International Co-Production Fund (ICOF) is a selective fund given by the Film Development Council of the Philippines (FDCP), through the Film Philippines Office (FPO). It provides a non-recoupable grant to qualified co-productions between Filipino companies and international partners, supporting the production of eligible projects and expanding their global reach.
- International co-production between the Philippines and any foreign country
- At least 60% confirmed funding by the time of application
- At least 10% equity share from the Filipino producer
- Production starts within a year (6 mos. for short films) from selection
- Project completion within 1 year and 9 months (1 year for short films) from selection
- The project is wholly or partly made in the Philippines, be it production (studio or location shoot), animation work, and/or post-production (visual effect, 3D conversion, editing, music and scoring, sound design, editing and mixing, voice overs and color grading, among others)
Filipino production companies, animation studios, or post-production studios that meet the following qualifications:
- Organized and registered as a business in the Philippines
- Co-producing an eligible project with a foreign production company.
- Holding at least a 10% equity share in the project.
- An active member of the FDCP National Registry.
-
No pending obligations and/or outstanding deliverables with the FDCP or any of its programs.Note: An applicant shall be considered ineligible if the company, its proprietors, or its authorized representatives have any pending obligations and/or outstanding deliverables with the FDCP or any of its programs.
- Any genre, except pornography, provided it does not insult or negatively portray the Philippines, threaten national security, or promote violence.
All documents submitted shall be in English or accompanied by an English translation.
- Fully-accomplished application form.
-
Notarized co-production agreement between the applicant and the foreign co-producer/s reflecting the following:
- Partners announced in the financing plan
- Respective contribution
- Expected revenue streams
- Proof that the foreign co-production company is eligible to conduct business in their country (e.g. business permit)
- Letters of agreement from all declared confirmed financial sources
- Copy of the script (or project treatment for non-scripted formats)
- Project dossier with vision statements from the producer and filmmaker (must include logline, cast, mood board, storyboard, filmography, URL to teaser and/or inspired short film)
- A copy of the scriptwriters’ authorized agreement for original work, or authorization letter from the copyright holder for adapted work
- Recorded video pitch
- Certificate of registration from the FDCP National Registry for Companies (NRC)
If applicable:
- Distribution, transmission, broadcast plan or agreement (for projects with a distributor)
- Screening link to a minimum of 30 minutes rough cut (for applicants of post-production expenses)
- Accomplished cultural test with a passing score (for applicants of Cultural Bonus)
Qualified Philippine Production Expenditures (QPPE) refer to eligible expenses incurred in the Philippines for the production of the project, in accordance with ICOF guidelines. QPPE serves as the basis for determining the proper utilization of the grant and ensures the responsible and lawful use of government funds.
The following expenses are recognized as Qualified Philippine Production Expenditures:
- Rights acquisition
- Salaries, wages, and social contribution
- Technical goods and services
- Project related overheads
- Post-production and animation
- Accommodation
- Meals
- Transportation and travel expenses
- Legal costs
- Producer's fee, not exceeding ten percent (10%) of the total approved grant
Eligible projects shall be evaluated based on the following criteria:
- Degree of participation of the Filipino producer in the overall production of the project
- Global appeal and quality of the project
- Contribution of the project to the Philippine film industry and the economy
- The financial strength and stability of the project
- Promotion of Philippine culture and its territories
- Distribution potential and ability to reach audiences
Selected projects will receive funding ranging from:
- PHP 3 Mn to PHP 10 Mn (≈USD 51,000 to USD 169,000) for feature films
- PHP 1 Mn to PHP 5 Mn (≈USD 17,000 to USD 85,000) for documentary and short films
- PHP 4 Mn to PHP 10 Mn (≈USD 68,000 to USD 169,000) per season for series
Projects may also apply and qualify for supplementary bonuses.
ASEAN Bonus - A guaranteed PHP 1Mn (approx.USD 17,000) for projects co-produced with at least one other ASEAN country, aside from the Philippines.
Cultural Bonus - Projects that pass the Cultural Test (attached as Annex A) will receive:
- PHP 2 Mn (≈USD 34,000) for feature films or series
- PHP 1 Mn (≈USD 17,000) for documentary and short films
*Based on USD 1 to PhP 59 conversion
The application periods for submission for FPI are as follows:
CYCLE 1
Application period: FEBRUARY
Evaluation: MARCH
Announcement: APRIL
CYCLE 2
Application period: JULY
Evaluation: AUGUST
Announcement: SEPTEMBER
In the event that the Film Philippines Incentives budget for the year has already been exhausted, the succeeding application period of that year will be closed.
CYCLE 1
Application period: FEBRUARY
Evaluation: MARCH
Announcement: APRIL
CYCLE 2
Application period: JULY
Evaluation: AUGUST
Announcement: SEPTEMBER
In the event that the Film Philippines Incentives budget for the year has already been exhausted, the succeeding application period of that year will be closed.
