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Investment account

Frequently asked questions

Investment account is a current account linked to any of investment services (such as Financial instrument account, Luminor Investor and/or Discretionary portfolio management service). It is used to transfer in funds for investment related transactions and deposit services.

Investment account offers several benefits:

  • Facilitates tax calculation
    Tax liability arises when amount withdrawn from the investment account exceeds total amount of funds deposited
  • Simplifies income declaration
    There is no need to calculate acquisition costs for each financial instrument
  • Opportunity to keep funds separately
    Keep funds for investment purpose separately from other savings
  • Investment account statement
    Receive investment account statement that could be used as the basis for filing annual income declaration

Investment account may be suitable for you if:

  • You are an active investor and plan to invest in financial instruments on a regular basis
  • You intend to invest only a lump-sum, but after a while plan to invest more or sell some of it
  • You want to reinvest gained income

Answer to this question lies in example that compares the use of Luminor Investor with current account and with investment account.

Investment account can be opened as per your request with at least one of the investment services provided by Luminor (Financial instrument account, Luminor Investor or Discretionary portfolio management service).

No.

Investment account pricelist falls under current account pricelist, which you can find here.

You can transfer in or withdraw funds from my investment account simply by making a payment within your own accounts in internet bank.

Investment account is intended only for services related to financial instruments and deposits. Therefore, any transactions not related to investing, e.g. using payment cards, making loan payments etc, are not allowed in this account.

Tax liability arises when amount withdrawn from the investment account in the previous taxation year exceeds total amount of funds deposited.

Amount withdrawn - Total amount of funds deposited = Taxable income

If the transfer is processed within services where investment account is linked to both sides. It is not allowed to transfer financial instruments to or from an account without investment account status.

Investment account

Disclaimer

All investments entail risks and may result in both profits and losses. Investors should carefully consider their financial situation in order to understand the risks involved and ensure the suitability of their situation prior to making any investment, divestment or entering into any transaction. You are responsible for your investment decisions; therefore, before making a decision you should get acquainted with all investor protection documents, including, but not limited to, description of financial instruments and related risks, prospects of funds or of financial instruments available here.
None of the information contained herein constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.
The information provided hereof is for informative purposes only and Luminor Bank AS Latvian branch waives any responsibility for expenses or loss, which may incur in case it does not tally with explanations provided by the State Revenue Service or another competent authority. To obtain additional information on taxation of income from deposits and investments Luminor Bank AS Latvian branch recommends that you consult the State Revenue Service or your personal tax advisor.