The film is based on the Patricia Highsmith novel of the same title and set in Athens, where a con man (Mortensen) accidentally kills a politician, and then must go on the run with his wife (Dunst) and an American tutor (Isaac). Principal location shooting in Greece and Turkey will begin October 1.
Studio Canal and Working Title, which produced last year's critical and arthouse box office success "Tinker Tailer Soldier Spy," are partnering to produce.
Studio Canal executive VP Ron Halpern compares the story of "Two Faces of January" to other Highsmith novels and film adaptations "Strangers on a Train" and "The Talented Mr. Ripley." Like those titles, "Two Faces" features a dark, complex relationship between the two male leads.