Investment account

Smart solution for active investors

An investment account gives possibility to manage all your investments in securities and other financial instruments and to pay the personal income tax from capital gains only when amount withdrawn from the investment account exceeds invested amount.

Convenient investing in securities
Favorable tax payment options

Please be informed that starting with 17.09.2019, it is possible to prepare the statutory investment account statement on the Internet Banking site. Investment account statement can be used for filing tax returns with the State Revenue Service.

documentInvestment account instruction

If you’re a holder of the investment account, prepare the investment account statement on an annual basis to determine your potential tax liability for income from investment account.

Attention - the investment account statement may only be obtained and altered for the last 3 years.

An investment account is a specific solution for investors who actively buy and sell securities or other financial instruments and want to use special conditions of personal income tax (PIT).

documentTerms of Investment Account

You can deposit money in investment account and make transactions with various financial instruments, e.g. stocks, funds, bonds and etc., without worrying about declaring income and paying the PIT after each transaction.

According to the Law on Personal Income Tax, there is a possibility to make private investments in securities in two ways (from the aspect of paying the PIT). You can choose which way to use or even invest using both possibilities at the same time.

	Investment account	Securities account without an investment account
Declaring income and tax calculation	To be done in the beginning of the next year when amount withdrawn from the investment account exceeds deposited amount. Income must be declared and the PIT on it must be paid in the beginning of the next year under the annual income declaration only if amount disbursed from the investment account exceeds deposited amount. The PIT shall be paid on that excess. The timeframe for declaring (depending on the total annual income): 1 march - 1 June/1 April - 1 July.	To be done if profit is derived from each security sales transaction. To be declared depending on the amount of the income derived: for the income derived in a quarter of the current year (till the 15th date in the month following the quarter in which the income was derived) or for the income derived during the entire year (till 15 January next year). A special form (DK) is to be used to declare income. The next year, a summary declaration of the previous calendar year can be submitted, that can include losses from sales of other securities in the previous calendar year, thereby reducing PIT amount or receiving back a part of PIT paid already.
Reports for making the PIT declaration	The bank will provide the option to prepare the investment account statement for investor to be used as the basis for filling the annual income declaration.	The investor shall themselves prepare information for the declaration of income from capital gains. To prepare the information, it is possible to use securities account statement, which is available on the Internet banking or at any branch office.
Permitted and not permitted transactions	All transactions with securities are permitted except securities transfers.	All transactions with securities are permitted.

An investment account is intended for investing. Therefore, any transactions not related to investing, e.g. payments of e-invoices, using payment cards, making loan payments etc, are not allowed in this account.

Open investment account via Internet banking To open an investment account with Swedbank means to open a money account that, as of opening, is assigned the status of an investment account and a new securities account linked to it.
Deposit money in investment account.
Make investments Invest in stocks, bonds, investment funds, deposits or other financial instruments. Permitted instruments and transaction types are described in the law and the Terms of Investment Account.
Manage your investments: buy, sell, exchange and top up your investment account at any time.
Receive dividends and interest in the investment account. According to the Law, the taxable income from the investment account can be updated if the PIT has been already collected from the income derived or if income is not subject to the PIT.
Make withdraw from the investment account by transferring money from it to current account. The PIT must be calculated as soon as the total amount withdrawn exceeds the total amount deposited. Fees for account maintaining or transactions are not considered as withdrawal from the investment account.

An investment account falls under the current and securities account sections of the Pricelist.

Service		Price, EUR
Receiving
Account opening		Free of charge
Opening an additional account	Easier via Internet Banking	Free of charge
The first verification of documents for customers who hold a personal ID issued outside the EU, the EEA or Switzerland and do not hold a permanent residence permit issued in Latvia.		150.00
Setting up Swedbank's power of attorney for operating the account	Only in branches	6.00, incl. VAT
Setting up Swedbank's power of attorney	Only in branches	Free of charge
Using
Account maintenance		Free of charge
Maintaining an inactive account		7.11 a year
Fee for unauthorized debit balance		0% per annum
Other services
Inheritance document processing within 5 business days		12.00, incl. VAT
Serving with power of attorney issued by Swedbank	Only in branches	Free of charge
Serving with power of attorney issued by other institution	Only in branches	12.00, incl. VAT (first time) 6.00, incl. VAT (every next time)
Serving with power of attorney issued by Notary or Orphan's Court	Only in branches	6.00-12.00, incl. VAT
Closing
Closing an account	Easier via Internet Banking	Free of charge

The Bank does not calculate and pay interest on account balances to the Client.

Effective from 01.07.2018.

Effective from 01.03.2020

Service	Price, EUR
Receiving
Account opening	0,00-4,50 Via Internet Banking - Free of charge At branches - 4.50
Account statements
Statement of holdings	0,00-7,00 Via Internet Banking - Free of charge At branches – 7.00
Statement of transaction	0,00-7,00 Via Internet Banking - Free of charge At branches – 7.00
Monthly Securities Safekeeping Fees options Safekeeping fee is calculated based on the value of the portfolio on the last date of the calendar month. Securities are priced according to the month end prices of the Bank’s local agents, market price or nominal value. Bonds are priced at nominal value. Fees are debited on the 20th or later date of the following month from the Client’s cash account linked to the securities account. If Client only holds securities of Estonian, Latvian or Lithuanian companies under liquidation or bankruptcy proceedings according to the Nasdaq CSD SE data, no safekeeping fee is charged. ETF safekeeping fee equals to the safekeeping fee of its trading country. Safekeeping of Depositary Receipts (ADR, GDR) is subject to the respective DR Agent’s fees in addition to safekeeping fees.
Swedbank Group funds	Free of charge
Other investment funds, equities and bonds*
- Up to 30 000 EUR**	Free of charge
- From the value above 30 000 EUR**	0.008%
* Securities registered in Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Italy, Latvia, Lithuania, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, UK, USA and Depositary Receipts (ADR, GDR), Eurobonds. ** Swedbank Group Funds are excluded from the calculation of the portfolio value for safekeeping fee calculation.
Other countries	Subject to agreement
Other services options Tax relief at source / tax reclaim and general meeting services are subject to availability on each specific market. Maintenance fee of an owner account is charged in addition to monthly securities safekeeping fee. Owner account is an account in the name of the Client opened at Nasdaq CSD SE and used only on behalf of the specific Client. Owner account at Nasdaq CSD SE may be opened only at the branch office.
Owner securities account opening at Nasdaq CSD SE	50.00
Owner securities account monthly account maintenance	50.00
Tax relief at source / tax reclaim	Subject to agreement
Participation in general shareholder’s meeting	Subject to agreement
Closing
All securities account types	Free of charge
Transactions with securities	See Securities and Other Exchange-traded financial instruments
Transactions with investment fund units	See Investment Funds

Effective from 01.03.2020.

documentTerms of Investment Account

Investment account

Smart solution for active investors

Effective from 01.03.2020

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