ISA / SAVINGS FUND FOR CHILDREN

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AlexEllgee
Posts: 1
Joined: Fri Sep 08, 2017 2:20 pm

ISA / SAVINGS FUND FOR CHILDREN

Post by AlexEllgee » Fri Sep 08, 2017 2:28 pm

Dear All

I do hope you are well and had a fantastic summer.

I had a quick question. In the UK we have a saving fund called an Junior Individual Savings Account https://www.gov.uk/junior-individual-savings-accounts

I am a British citizen but my son is finnish and living in Finland. I wanted to set up an ISA for him in the UK but was thinking it might be wiser to set it up in Finland.

Does anyone have any information about this?

Many thanks,

William



ISA / SAVINGS FUND FOR CHILDREN

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Tiwaz
Posts: 2592
Joined: Thu Nov 01, 2007 9:21 am

Re: ISA / SAVINGS FUND FOR CHILDREN

Post by Tiwaz » Wed Sep 13, 2017 11:11 pm

AlexEllgee wrote:Dear All

I do hope you are well and had a fantastic summer.

I had a quick question. In the UK we have a saving fund called an Junior Individual Savings Account https://www.gov.uk/junior-individual-savings-accounts

I am a British citizen but my son is finnish and living in Finland. I wanted to set up an ISA for him in the UK but was thinking it might be wiser to set it up in Finland.

Does anyone have any information about this?

Many thanks,

William
Just set up account for the kid and there you go.
To make more out of it, have regular deposits on the account and equally regular investments on index funds.
That is how my kids are set up. Can't remember if the funds are inside investment insurance envelope or not. Likely yes because they way it can be made that control of funds is released to child upon reaching maturity and investments can be shuffled inside the envelope without taxes.

I think old Warren is quite correct when noting that index beats all those fancy brokers out there.


Ice_Man
Posts: 32
Joined: Tue Dec 27, 2011 9:09 am

Re: ISA / SAVINGS FUND FOR CHILDREN

Post by Ice_Man » Thu Sep 14, 2017 11:17 pm

I think your child has to be living in UK to open an ISA?


Rosamunda
Posts: 10609
Joined: Fri Jan 02, 2004 12:07 am

Re: ISA / SAVINGS FUND FOR CHILDREN

Post by Rosamunda » Fri Sep 15, 2017 4:42 pm

And pounds sterling aren't worth much in euros at the moment! If you child is going to live permanently in Finland (crystal ball...!), it would probably make more sense to save in euros.


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