Do not invest more money than you can afford to lose.
GMO Click Securities, part of Japanese brokerage group GMO Clock Holdings, said on Monday it will start offering Junior NISA accounts, a type of tax-free investment accounts, with their commencement on 1 April, 2016. The broker has been accepting applications for opening of this type of account since 2 January, 2016.
Junior NISA account holders will be able to start trading as of 1 April. The broker will not charge any trading fees.
Nippon Individual Savings Accounts, or NISA, are offered by most banks and brokerages in Japan. The NISA model was introduced in 2014 and was based on a model used in the UK. For the first five years, all dividends and capital gains are expmpt from taxes. This type of accounts aims to encourage Japanese citizens to invest more in the stock market.
Junior NISA accounts will be available with the start of April this year. They are especially designed for individuals under 20 as parents and grandparents can invest on a child’s behalf. Junior NISA accounts are converted to regular NISA accounts once the account holder turns 20.
The maximum investment into a Junior NISA account is JPY 800,000 per a single year, while for adult NISA accounts the amount is JPY 1.2 million.
The GMO Click group consists of the holding company GMO Click Holdings, and its subsidiaries GMO Click Securities and FX Prime by GMO Corp., both based in Japan, Hong Kong-based GMO-Z.com Forex HK and GMO-Z.com Bullion HK, and London-based GMO-Z.com Trade UK.
Source: GMO Click Securities
