The Curacao Heritage Fund
“Invest in vibrant Pietermaai Smal”
The Curacao Financial Group (‘cfg’) has launched the Curacao Heritage Fund (‘CHF’), a real estate investment fund that provides investors with a unique opportunity to participate in the preservation of the precious monuments and heritage of Curaçao while earning an attractive and stable return.
The first investment of the Curaçao Heritage Fund will be made in fully renovated UNESCO World Heritage properties with a stunning Dutch colonial architecture dated back to the 18th and 19th century, covering a total area of approximately 5,862m2 and situated throughout the Pietermaai Smal district.
The Pietermaai Smal district is characterized as an evolving, historic district where emblematic monuments have been restored and where one can enjoy a lively mix of bars, restaurants and businesses. Being one of the most visited areas in Curacao amongst locals and tourists, Pietermaai Smal is both wonderfully laid-back and surprisingly dynamic and is also known as the 'Soho' of Curaçao.
The Fund has been granted an Exemption from the Banking Supervision Act by the Central Bank of Curaçao and St. Maarten (CBCS), effectively allowing the Fund to raise capital by offering their bonds to the market of professional investors in Curacao and St. Maarten.
The bonds will be listed on the Dutch Caribbean Securities Exchange (‘DCSX’) and offer an annual interest rate of 5% (paid out quarterly) with a duration of 5 years. The bonds are collateralized with first mortgage rights on all real estate properties in the portfolio. The subscription period of the bond will start on the 9th of April and end on the 4th of May 2018.
Investors of the Fund will also enjoy attractive tax benefits based on the new tax ordinances enacted in 2017 containing incentives for investments in registered monuments and UNESCO World Heritgage properties located in Curacao. Interest and other income generated through this investment are exempt from Curaçao income taxes.
Amicorp Curaçao will function as the Bond Agent and the Paying Agent, Vidanova Bank as custodian, HBN Law Listing Advisory Services as the Listing Advisor for the DCSX and Baker Tilly as advisor on all tax matters for the Fund. Annual financial statements will be audited by BDO.
Please contact [email protected] / [email protected] or one of the following DCSX brokers; Amergeris Global Listing & Exchange Services, Banco di Caribe, Maduro & Curiel’s Bank or Vidanova Bank if you want to subscribe.