Heinz Thym, formerly head of film co-productions and acquisitions for CLT Ufa International is setting up a Luxembourg film production company, T Films.
As a registered Luxembourg producer, T Films will be able to access the principality's generous local tax shelter schemes.
Through the 100%-owned T Films, Thym will seek to be involved in European and US productions which can benefit from the tax shelter scheme, allows a 25% rebate for productions shooting in Luxembourg.
Thym explains: "Shooting in Luxembourg has many advantages: the Duchy is small, central (and very safe'). The territory benefits from a very good studio and facilities infrastructure and production costs are much lower than in Germany, UK or France."
Thym is also busy setting up film projects through TR Pictures (TRP) a London-based joint venture with Hollywood writer/director Stewart Raffill, which was launched in Cannes this year. The first projects currently in the works are $16m family-oriented adventure film The Mammoth Hunters, Christmas fantasy tale The Wizard Wars and comic caper Smooth Operator. Another of TRP's projects, Bombers - the story of three former Irish terrorists hired to capture the most dangerous terrorist of them all, one Hassan Bin Raden - which was in pre-production, has had to be postponed.