WHAT IS ICOF?
The International Co-Production Fund (ICOF) is a selective, non-recoupable grant that supports qualified international co-productions between Filipino producers and foreign partners, helping eligible projects access international opportunities and expand their global reach.
To encourage diverse collaborations, the program offers two co-production tracks that recognize different levels of Filipino participation in the financial and creative aspects of the production.
Minority Co-Production
The Filipino producer holds a minimum 10% equity share in the overall financing and has corresponding rights and/or ownership interests under the co-production agreement. Filipino personnel participate in key creative or technical roles.
Majority Co-Production
The Filipino producer holds the highest equity share, with a minimum of 20% of the total production budget, and has corresponding rights and/or ownership interests under the co-production agreement. Filipino personnel contribute across key creative and technical roles.
- International co-production between a Filipino producer and one or more foreign co-producers
- With rights and/or ownership interests corresponding to the Filipino producer’s equity share
- Have at least 60% of the total production budget confirmed at the time of application
- Commence production within a year from selection (6 months for short films)
- Project completion within 1 year and 9 months from selection (1 year for short films)
Minority Co-Production
Majority Co-Production
- Projects with the Filipino producer holding a minority equity share of at least 10% of the total production financing
- At least two (2) Filipino ATL or three (3) Filipino BTL personnel in key creative or technical production roles
- Distribution plan covering international release
- Projects with the Filipino producer holding the highest equity share, with at least 20% of the total production financing
- Filipino participation in at least two (2) of the following key creative positions: Director, Writer, or Lead Actor
At least five (5) Filipino personnel in key technical positions
- Distribution plan covering both Philippine and international release
- Foreign co-producer(s) with a minority equity share and corresponding creative and/or technical participation
Filipino production companies or animation studios that meet the following qualifications:
- Organized and registered as a business in the Philippines
- Co-producing an eligible project with one or more foreign co-producers
- Have completed at least three (3) film and/or TV projects within the last five (5) years, each having reached final completion and been publicly exhibited through theatrical release, television broadcast, streaming release, or official festival premiere.
- An active member of the FDCP National Registry.
An applicant is ineligible if:
- The applicant company, including its parent or subsidiary companies, proprietors, or authorized representatives, has any pending obligations or outstanding deliverables with the FDCP or any of its programs; or
- The applicant, its principals, or any parent or subsidiary company is subject to a three-year disqualification from applying for or accessing FDCP funding due to a breach of the MOA or the Guidelines governing a previously awarded ICOF project, including failure to properly account for or return grant funds when required.
- Any genre, except pornography, provided it does not insult or negatively portray the Philippines, threaten national security, or promote violence.
All documents must be submitted 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
- The respective equity shares, rights and/or ownership interests, and project-related involvement of co-producer/s, including creative, technical, or other contributions, as applicable
- The expected revenue streams and applicable revenue-sharing arrangements
- Proof that the foreign co-producer(s) is/are legally eligible to conduct business in their country
- Letters of agreement from all declared confirmed financial sources
- Copy of the script
- 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 (maximum of five [5] minutes)
- FDCP National Registry for Companies (NRC) registration certificate
- Distribution plan for Majority Co-Production
If applicable:
- Screening link to a minimum 30-minute rough cut, for applicants seeking funding for post-production expenses
- Accomplished cultural test with a passing score, for applicants applying for the cultural bonus
Qualified Philippine Production Expenditures (QPPE) refer to eligible expenses incurred in the Philippines for the production of the approved project. QPPE serves as the basis for determining the proper utilization of the grant and ensures the responsible and lawful use of government funds.
Only recognized QPPE, supported by appropriate documentation, shall be allowable for audit and charged against the grant.
The following expenses are recognized as QPPE:
- Rights acquisition
- Salaries, wages, and social contributions
- 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
All QPPE transactions must be in Philippine Peso, coursed through the grantee's company, and transacted with Philippine-registered businesses and/or Filipino individuals.
Eligible projects shall be evaluated based on the following criteria:
- Global Appeal
- Creative Merit
- Financial Strength and Feasibility
- Economic Merit
- Cultural Merit
- Co-Production Structure
- Distribution
Selected projects will receive funding ranging from:
Project Format
Minority Co-Production
Majority Co-Production
Feature Films / Series
Up to PHP 7M
(≈USD 113,000)
Up to PHP 13M
(≈USD 210,000)
Documentary / Short Films
Up to PHP 3M
(≈USD 48,000)
Up to PHP 5M
(≈USD 80,000)
Projects may also apply and qualify for supplementary bonuses.
ASEAN – Guaranteed PHP 1M (≈USD 16,000) for projects co-produced with another ASEAN-member country aside from the Philippines
Cultural – For projects that pass the Cultural Test:
- Up to PHP 2M (≈USD 32,000) for Feature Films / Series
- Up to PHP 1M (≈USD 16,000) for Documentary / Short Films
*Amounts are based on USD 1 : PHP 62 conversion. May vary based on prevailing foreign exchange.
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, non-recoupable grant that supports qualified international co-productions between Filipino producers and foreign partners, helping eligible projects access international opportunities and expand their global reach.
To encourage diverse collaborations, the program offers two co-production tracks that recognize different levels of Filipino participation in the financial and creative aspects of the production.
Minority Co-Production
The Filipino producer holds a minimum 10% equity share in the overall financing and has corresponding rights and/or ownership interests under the co-production agreement. Filipino personnel participate in key creative or technical roles.
Majority Co-Production
The Filipino producer holds the highest equity share, with a minimum of 20% of the total production budget, and has corresponding rights and/or ownership interests under the co-production agreement. Filipino personnel contribute across key creative and technical roles.
- International co-production between a Filipino producer and one or more foreign co-producers
- With rights and/or ownership interests corresponding to the Filipino producer’s equity share
- Have at least 60% of the total production budget confirmed at the time of application
- Commence production within a year from selection (6 months for short films)
- Project completion within 1 year and 9 months from selection (1 year for short films)
| Minority Co-Production | Majority Co-Production |
|---|---|
|
|
Filipino production companies or animation studios that meet the following qualifications:
- Organized and registered as a business in the Philippines
- Co-producing an eligible project with one or more foreign co-producers
- Have completed at least three (3) film and/or TV projects within the last five (5) years, each having reached final completion and been publicly exhibited through theatrical release, television broadcast, streaming release, or official festival premiere.
- An active member of the FDCP National Registry.
An applicant is ineligible if:
- The applicant company, including its parent or subsidiary companies, proprietors, or authorized representatives, has any pending obligations or outstanding deliverables with the FDCP or any of its programs; or
- The applicant, its principals, or any parent or subsidiary company is subject to a three-year disqualification from applying for or accessing FDCP funding due to a breach of the MOA or the Guidelines governing a previously awarded ICOF project, including failure to properly account for or return grant funds when required.
- Any genre, except pornography, provided it does not insult or negatively portray the Philippines, threaten national security, or promote violence.
All documents must be submitted 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
- The respective equity shares, rights and/or ownership interests, and project-related involvement of co-producer/s, including creative, technical, or other contributions, as applicable
- The expected revenue streams and applicable revenue-sharing arrangements
- Proof that the foreign co-producer(s) is/are legally eligible to conduct business in their country
- Letters of agreement from all declared confirmed financial sources
- Copy of the script
- 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 (maximum of five [5] minutes)
- FDCP National Registry for Companies (NRC) registration certificate
- Distribution plan for Majority Co-Production
If applicable:
- Screening link to a minimum 30-minute rough cut, for applicants seeking funding for post-production expenses
- Accomplished cultural test with a passing score, for applicants applying for the cultural bonus
Qualified Philippine Production Expenditures (QPPE) refer to eligible expenses incurred in the Philippines for the production of the approved project. QPPE serves as the basis for determining the proper utilization of the grant and ensures the responsible and lawful use of government funds.
Only recognized QPPE, supported by appropriate documentation, shall be allowable for audit and charged against the grant.
The following expenses are recognized as QPPE:
- Rights acquisition
- Salaries, wages, and social contributions
- 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
All QPPE transactions must be in Philippine Peso, coursed through the grantee's company, and transacted with Philippine-registered businesses and/or Filipino individuals.
Eligible projects shall be evaluated based on the following criteria:
- Global Appeal
- Creative Merit
- Financial Strength and Feasibility
- Economic Merit
- Cultural Merit
- Co-Production Structure
- Distribution
Selected projects will receive funding ranging from:
| Project Format | Minority Co-Production | Majority Co-Production |
|---|---|---|
| Feature Films / Series | Up to PHP 7M (≈USD 113,000) |
Up to PHP 13M (≈USD 210,000) |
| Documentary / Short Films | Up to PHP 3M (≈USD 48,000) |
Up to PHP 5M (≈USD 80,000) |
Projects may also apply and qualify for supplementary bonuses.
ASEAN – Guaranteed PHP 1M (≈USD 16,000) for projects co-produced with another ASEAN-member country aside from the Philippines
Cultural – For projects that pass the Cultural Test:
- Up to PHP 2M (≈USD 32,000) for Feature Films / Series
- Up to PHP 1M (≈USD 16,000) for Documentary / Short Films
*Amounts are based on USD 1 : PHP 62 conversion. May vary based on prevailing foreign exchange.
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.
