Tag: Mortgage Investment Corporation
Tag: Mortgage Investment Corporation
Mortgage Income Fund Trusts and Limited Partnerships
A Mortgage Income Fund Trust could be established to give investors an opportunity to invest, indirectly through units of a trust, in Canadian mortgages and other...
Do MICs need to file an exempt distribution report for shares issued under a DRIP?
Should a Mortgage Investment Corporation ("MIC"), include exempt distributions of shares or other securities issued under a reinvestment plan (i.e. a DRIP or Dividend Reinvestment Plan),...
Can a lawyer act for both the lender and borrower?
In most conventional cases where the mortgage is not a "private" mortgage or loan transaction, there are no hard rules rather than good judgement and a...
A MIC’s Specified Shareholder, Related Persons and Prohibited RRSP Investment Considerations
The Question being asked is a brother or sister of a shareholder of a mortgage investment corporation (MIC) a specified shareholder (To qualify as a MIC...
MIC Foreign Investors & Withholding Taxes on Dividends
The Quick and Simple is that Yes, withholding taxes (usually 25% of gross amount unless subject to a tax treaty with the resident country of the...
Challenges in Starting a MIC: Paying Dividends
One of the biggest challenges in running a MIC is when you first realize that the investors who were once your private lenders are now expecting...
A MIC does not simply allow you to raise money from the public!
Mortgage Investment Corporations ("MICs") are on the rise in Canada. With many of these MICs the founders and managers are confused over what regulators may or...
Annual Maintenance and Reporting Requirements of a MIC, a Mortgage Investment Corporation
Annually a MIC that issues its shares through a prospectus and registration exemption under securities law and regulations (e.g. not publicly traded companies), will be responsible...
What If A Mortgage Goes Bad In A MIC? What are the Investment Benefits In A MIC?
Management of the MIC must be vigilant and selective with whom they lend to, and investors can inquire about whether the MIC in question will allow...
Securities Law & Regulations of a MIC, a Mortgage Investment Corporation
A “Trade” (i.e. selling shares to investors in this case) triggers the “Registration” requirement, even if the trade is not a “distribution”. Just because there is...
