We are interested in the security of your investment, not just the return.
That’s why we invest in BC properties only, primarily on residential properties in major centres.
These are homes in our neighbourhood. This is a market we know.
These are the minimum requirements:
Income Tax Act, Section 130.1: Salient Rules
Investment funds are pooled and are used to fund mortgages, primarily on residential properties, primarily in Metro Vancouver and other major centres in BC. This is a market you know. These are houses you may drive by.
We distribute dividends quarterly. Dividends may be reinvested, or they may be paid out by direct deposit.
Requests are to be received by July 1 in order to participate in retractions to be processed on October 1 of each year. See Subscription Agreement package or Offering Memorandum for details.
A MIC’s annual net income is distributed in the form of dividends, which are treated as Interest Income for income tax purposes. We issue T5s for reporting investment income.
You will receive a quarterly statement in the mail, which will include portfolio highlights. Annual audited financial statements are available to shareholders on request.
Cove Mortgage Ltd, established in 1976, is one of British Columbia’s oldest private lending firms. Cove has long-standing relationships with numerous mortgage referral partners, providing a steady source of new mortgage opportunities.