ISA equivalent for belgium

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dr52
dr52 Posts: 1 Newbie
in ISAs & tax-free savings
When I was doing some some lump sum investing research, I came across this wonderful ISA option that residents of the UK have at their disposal. I live and study in belgium and am not a citizen of the UK so naturally I "googled" ISA equivalent in belgium and Tax-free Savings in belgium. I got nothing. Would anyone reading this post know if such a thing exist here? I just want to make more than 1 percent the the banks give and know that even a small lump sum can make a difference in a 5 to 7 years plan.

Thank you

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  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
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    Why don't you ask a local bank or your equivalent of our inland revenue?
  • Plus
    Plus Posts: 433 Forumite
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    I'm no expert on Belgian taxes, but as I understand it the first EUR1900 of savings income is free of tax, and savings income above that is taxed at a lower rate of 15%. So there's less need for an ISA since much interest will be tax free already. This applies to accounts in Belgium, but there are/were moves to expand this to the whole EU. All Belgian accounts pay a 'fidelity premium' (small or large) for holding funds for more than a year, so you can build up savings in an account that still retains some degree of flexibility but earn a higher rate by not withdrawing it.

    I don't know the situation about investment taxes, but suspect the answer contains the word 'pension'.
  • jimjames
    jimjames Posts: 17,624 Forumite
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    dr52 wrote: »
    When I was doing some some lump sum investing research, I came across this wonderful ISA option that residents of the UK have at their disposal. I live and study in belgium and am not a citizen of the UK so naturally I "googled" ISA equivalent in belgium and Tax-free Savings in belgium. I got nothing. Would anyone reading this post know if such a thing exist here? I just want to make more than 1 percent the the banks give and know that even a small lump sum can make a difference in a 5 to 7 years plan.

    Thank you

    I think you'll find cash ISAs in the UK only pay around 1% anyway
    Remember the saying: if it looks too good to be true it almost certainly is.
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