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Degiro - 1.7.2020 04.19

MITÄ IHMETTÄ DEGIRO?

Tällainen meili tuli juuri:

We regret to inform you that trading Finnish shares via DEGIRO will no longer be possible for our Finnish clients. This is due to recently implemented changes in regulations and tax laws in Finland.

What does this mean for you?

You will not be able to increase your position in Finnish shares or enter into a new one, and if you have an open position in a Finnish stock, this will need to be closed before 1 October 2020. We will reimburse your transaction fees for closing these positions, which will be done after the deadline. Please be aware that positions that are still open after the deadline will be closed on your behalf by our Risk Department.

Also, for Finnish tax residents, the withholding tax (e.g. on dividend) on Finnish shares has been increased from 30% to 50%. This increase is due to an anti-abuse rule which has been put in place by the Finnish government, increasing the withholding tax rate for nominee registered shares for Finnish residents to 50%.

As DEGIRO makes use of omnibus accounts with a custodian to hold and safeguard your assets, your shares are registered with a nominee. Therefore, all Finnish shares held with DEGIRO that pay dividends are now subject to a 50% withholding tax rate.

We understand that this may not be a favourable situation for you and do apologise for any inconveniences this may cause.

You can still expect our brokerage services for all other markets.

We regret that we won’t be able to offer you Finnish shares anymore. However, if you invest in non-Finnish companies, then our exceptional combination of low fees, worldwide investment possibilities and a comprehensive platform will remain unchanged.

If you have any questions regarding this matter, please do not hesitate to get in touch with our Service Desk.

Kind regards

 

DEGIRO

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