How can I become shareholder of Incofin cvso?
The minimum amount required to become a shareholder is 130.20 Euros (1/20 share). Every investment must be a multiple of 130.20 Euros to buy a 1/20 share, or a multiple of 6204 Euros to buy full shares. It only takes three simple steps to subscribe:
I am a shareholder already. How do I subscribe to additional shares?
If you are a shareholder already, you do not need to fill in the subscription form again. Kindly deposit the desired amount into Incofin cvso’s account number (IBAN: BE16 8900 1429 2474 – BIC: VDSPBE91), mentioning your personal shareholder number as reference. You can find this number on the extract of the shareholders register which you received at the time of your previous investment. One week following receipt of your payment, you will receive an extract from the shareholders register to confirm your purchase.
Where do I find the subscription form?
You can find the subscription form on the page ‘invest’, or by clicking on this link.
What do I invest in?
You invest in a share of a cooperative company with social purpose. A cooperative company is a company composed of a variable number of partners (on this website we also use the word investor or shareholder) with variable contributions. In principle, a partner wanting to resign always has the possibility to do so. Only in a number of cases provided for in the articles of association, the Board of Directors can refuse or postpone a resignation. These shares are not negotiable and cannot be transferred, except with the prior approval of the Board of Directors. Want to find out more? Info and conditions.
What amount can I subscribe for?
That is up to you, as long as you make a minimum investment of 130.20 Euros (1/20 share).
Every investment must be a multiple of 130.20 Euros to buy a 1/20 share, or a multiple of 6204 Euros to buy full shares. There is no maximum but Incofin cvso may only issue shares up to 5 million EUR during a period of 12 months.
Are there costs to be paid?
No, you don’t pay any entry, exit or management fees.
What are the fiscal advantages?
Incofin cvso is a recognized microfinance development fund. That is why, as a private person and under certain conditions, you are entitled to a 5 % tax reduction on the amount you invest in Incofin cvso.
Moreover private investors enjoy an exemption of withholding tax on income from movable assets because Incofin cvso is recognized by the National Cooperative Council. From 2019 the first installment of 800 euros in dividends per taxpayer is now exempt from withholding tax. This exemption applies to all dividends, from both Belgian and foreign companies. But this exemption does not apply to dividends from investment funds and legal constructions. The exemption does apply to recognized cooperative companies such as Incofin cvso.
Dividends from recognized cooperative companies were already exempt from withholding tax for the first bracket of 190 euros (200 euros indexed 2019) dividends. This exemption of 190 euros withholding tax on dividends from the cooperatives is now integrated into the general new exemption for dividends.
How do I resign as a shareholder?
Would you like to resign wholly or in part as a shareholder? No problem. Apply for your resignation on this number: +32 (0)3 829 25 36.
You can resign during the first six months of each year (between 1 January and 30 June). If you ask to resign on 1 July or later in the year, you will have to wait until 1 January of the following year to be paid. This is laid down by law and it is impossible to deviate from this rule. In a limited number of cases provided for in the articles of association, the Board of Directors can refuse or postpone a resignation.
Within a few days following receipt of your request during the first half of the year, the money will be paid into the bank account number you gave us. If you would like the money to be paid into a different account, we will contact you first to verify that you are the owner of the bank account in question.
The sum that is paid back to a partner upon resignation or in case of the partial taking back of shares can never exceed the amount invested initially. Of course, dividends paid out are not taken into account.
The articles of association stipulate that the payment will equal the lower of the following two amounts:
There are no costs attached to admission or resignation.
My address or bank account has changed. What must I do?
In the event of a change of address or bank account, you are advised to notify this change as soon as possible by sending an e-mail to email@example.com.
In this e-mail you mention the change that has taken place as well as your old address or bank account number. That allows us to make the necessary adjustments. If your bank account number has changed, you will be requested to provide proof thereof. This can be done by means of a copy of an extract, a copy of your bank card or a letter from the bank.
Where can I find the annual report?
You can find our annual report here. It contains testimonies, milestones, information on our management and naturally also the financial report.
Where can I find the information note?
You can download our information note here. You can also ask to receive the information note free of charge and upon simple request by regular mail: Incofin Investment Management, Sneeuwbeslaan 20, postbus 2, 2610 Wilrijk, by e-mail: firstname.lastname@example.org, or by phone: 03 829 25 36.
In the information note you will find information on risk factors, the identity and the activities of the issuing institution, management, the financial information on the issuing institution as well as information about the issuance and the issued shares.
Is my data protected?
What is Incofin Investment Management?
Incofin Investment Management is the fund manager of Incofin cvso. Incofin IM has its headquarters in Antwerp (Belgium), and also has regional offices in Bogotá (Colombia), Nairobi (Kenya) and Phnom Penh (Cambodia). An international team of experts with ample experience in microfinance is employed at our offices.
Incofin IM is an impact investor who believes that local entrepreneurship and investments rooted in people’s everyday reality will lead to a sustainable advancement for developing economies. The fund manager uses the ‘Capital Plus’ approach: the creation of added value by a strong and close involvement in investments in the field.
Incofin Investment Management was founded in 2009 by Incofin cvso and the management.
What is technical assistance?
Incofin cvso offers technical assistance to financial partners in developing countries that are in need of customized support. This way these partners do not only receive financial but also technical support. Microfinance experts are called on for this. They share their knowledge with the staff members. Thanks to this specific assistance these institutions are better able to help more people with a low income. In the impact story of FATEN in Palestine you can read how our technical support works.
What is microfinance?
Microfinance is an umbrella term for financial services such as credits, deposit books and insurances for people who only have very limited access or no access at all to commercial banks due to poverty, lack of a steady income, or due to the fact that they live in very isolated areas.
Local entrepreneurship is stimulated by giving people access to financial services. This may lead to sustainable advancement. According to Muhammad Yunus, Nobel prize winner and pioneer behind the concept of microfinance, this is the basic idea of microfinance:
Funds such as Incofin cvso provide financing (loans or owner’s equity) to small and medium-sized microfinance institutions in developing countries. Those institutions support micro-entrepreneurs by giving them access to financial services (credits, savings products, financial transactions, training…).