Company Requirements
To be able to apply for this financing line, your company must meet the following requirements
- Be producers or private companies (self-employed entrepreneur or legal entity) whose purpose is musical activity.
- Have the status of a microenterprise or small business:
- Employ fewer than 50 people.
- Have an annual turnover or annual balance sheet that does not exceed 10 million euros.
- Demonstrate a minimum of two years of continuous professional activity, or four years of discontinuous activity. Alternatively, the administrator or majority partner must demonstrate this experience.
- Have tax residence in the Community of Madrid.
- Develop a main economic activity framed in the business or professional headings related to music, IAE 965 or similar for production, or IAE 355.2 for record publishing.
- In the case of co-production between several companies in Madrid, only the one that incurs the expense and holds the majority percentage may be a beneficiary.
- In the case of co-production with companies outside of Madrid, only the company based in Madrid may be a beneficiary, for the actual expense incurred.
- Groups of individuals or legal entities without their own legal personality (communities of goods, etc.) cannot be beneficiaries.
