Smartlands and White Asset Management announce a new partnership
April 22, 2021
London, UK, April 22: Smartlands and White Asset Management are pleased to announce they entered into a partnership to bring the Smartlands Asset Tokenization platform to real estate assets held within Corporate Investment Funds (CIFs).
White Asset Management is a licensed regulated asset management company in Ukraine that has carved out its niche in asset & wealth management for corporate and private clients. The Company following and participates in the development of financial innovations. Considering market trends and risks, White Asset Management provides long-term financial results for its clients. The total value of net assets under management as of January 1, 2021 was more than $20 million.
CIF is a legal entity, that is created in the form of a joint-stock company and is the issuer of the Fund’s shares. As a result of CIF’s activities, the Fund gains profit from operations with assets. This may be income from the sale of assets, rental payments, royalties, interest income, or dividends. These incomes can be reinvested in other assets or paid as dividends to participants. Another advantage is that the Fund can give loans to legal entities in which its share is 10% or more. Shareholders of the CIF are taxed only on receipt of dividends from the CIF or on the profit on the sale of their shares in the CIF.
This allows for an extremely tax-efficient structure to develop real estate assets and many real estate owners in Ukraine have bundled their property portfolios into CIFs to take advantage of the tax structure.
By entering into this partnership with White Asset Management Smartlands will be in a position to offer its platform asset tokenization opportunities to existing CIFs that have been created by White Asset Management and also to offer the same to new White Asset Management clients effectively introducing the Smartlands solution to a large captive audience of real estate portfolio owners in one stroke.
Smartlands is a digital investment platform with a proven use case for tokenizing shares in real assets. Smartlands develops alternative investments instrument offering for sale Initial Coin Offerings in asset-backed structures. The SLT is a cryptocurrency of the Smartlands ecosystem. It is limited to a maximum of 7.1mn tokens and runs on the Stellar open-source network.