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Isle of Man firm Cains has been hired by the island's government to provide movie investment advice
The offshore jurisdiction has become a popular location for film producers seeking investment, and at the recent Cannes Film Festival in May the government announced it was to provide an extra £25m on top of the £16m set aside for film investment over the next three years. The government has also begun to invest at the pre-production stage. Andrew Fingret, a partner at Cains, will negotiate the value of each investment and its degree of security with producers, and investigate each film's chain of title. The government will provide a ceiling of 25 per cent of the budget as direct equity investment, which compares favourably with most external sponsors, such as the Film Council. A condition is that the film be made wholly, or in part, on the island.