How can I become shareholder of Incofin cvso?
You can become a shareholder from 130.20 euros (1/20th share). Each investment must be a multiple of 130.20 euros for 1/20th share, or a multiple of 2,604 euros for whole shares. You can register easily via the Incofin CVSO Portal.
Is it not quite clear? Do not hesitate to contact us by phone on +32 (0)3 829 25 36 or send an e-mail to info@incofincvso.be.
I am a shareholder already. How do I subscribe to additional shares?
You can easily subscribe to additional shares via the Incofin CVSO Portal. Is it not very clear? Do not hesitate to contact us by phone +32 (0)3 829 25 36 or by e-mail info@incofincvso.be.
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 development fund for microfinance. That is why, as a private individual, you are entitled to a tax reduction of 5% on the amount you invest in Incofin cvso under certain conditions.
Furthermore, private investors enjoy an exemption from withholding tax. For the (income) year 2024, the first bracket of 833 euros in dividends per taxpayer is exempt from withholding tax. This exemption applies to all dividends, from both Belgian and foreign companies. However, the exemption does not apply to dividends from investment funds and legal structures. The exemption does apply to recognized cooperative companies such as Incofin CVSO.
The withholding tax on all dividends is withheld at source by Incofin. The recovery of the exempt withholding tax will have to be done via the tax return.
Incofin will provide an extract clearly showing the withholding tax percentages on the dividends you receive. You can then keep this as evidence for a possible question from the tax authorities.
Please note: The current recognition as an accredited development fund expired on December 31, 2024. The renewal application is currently in progress. The renewal has been requested for the period from January 1, 2025, to December 31, 2029. If the renewal application is not approved, you will not be eligible for the tax reduction. Given that Incofin CVSO continues to meet all the requirements for recognition as an accredited development fund and that the associated tax reduction has not yet been officially revoked, we are confident that this recognition will be renewed. However, in light of the recent communication by the federal government to abolish the tax reduction in the future, we wish to communicate transparently on this matter.
How do I resign as a shareholder?
Would you like to withdraw completely or partially as a shareholder? No problem. Log in to your account at “My Incofin cvso”. Indicate which shares you want to sell and we will ensure that you receive your funds within a few days.
You can withdraw during the first six months of each year (between January 1 and June 30). If you request to resign on July 1 or later in the year, you must wait until January 1 of the following year before you are paid. The law prescribes this and we cannot deviate from it. In a limited number of statutory cases, the Board of Directors may suspend or refuse a withdrawal.
The amount that a partner receives back upon withdrawal or partial repurchase of shares can never be more than the amount he or she originally invested. Dividends paid out are not included, of course.
The articles of association stipulate that the payment will be equal to the lower amount of the following two:
There are no costs associated with entry or exit.
My address or bank account has changed. What must I do?
Log in to “My Incofin cvso” and easily change your details.
Please note, some fields cannot be adjusted because they must match the data provided via ITSME.
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: info@incofincvso.be, 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?
Your privacy is important to us. Your data will be used only by Incofin cvso. They are never disclosed to third parties without your consent. Your data is kept by Incofin cvso and you can consult it at any time. Upon your simple request we remove these data from our records. You can find our Privacy Policy here.
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…).