What is a securities portfolio?

A securities portfolio is an investment account used to hold and manage financial instruments: equities, bonds, ETFs, investment funds, precious metals, etc... It allows you to invest freely in the financial markets and thus diversify your savings. The risk associated with the securities portfolio depends on the financial instruments in which you have invested. For more information, please refer to “A guide for investors” available at www.spuerkeess.lu .

Can I withdraw my money at any time?

The money invested in your securities portfolio is not locked and you can sell your financial instruments at any time via your online banking S-Net or your branch advisor. However, the counter-value of the financial instruments may have fallen at the time of the sale. Moreover, capital gains realised on shareholdings held for less than six months are subject to income tax in Luxembourg. For more information, please refer to “A guide for investors” available at www.spuerkeess.lu .

Are there any fees to pay when I buy/sell a security in a foreign currency?

If you buy or sell a security in a currency other than that of your current account (for example: a security priced in USD if your current account is denominated in EUR), an exchange fee of 0,10%, with a minimum of EUR 2,50 and a maximum of EUR 125, will be applied. To limit the impact of this fee when investing on the stock market, you can open a foreign currency account via the Store of your S-Net online banking. In this case, the exchange fee will only be applied when you transfer money from your foreign currency account to your current account in euros and not on each purchase/sale of securities.

What is the applicable tax treatment?

The taxation applicable to securities portfolios in Luxembourg is relatively favourable, particularly for retail investors, but it varies according to the type of income generated (capital gains, dividends, interest) and the length of time the securities are held. 1. Capital gains tax on securities If the securities are held for more than 6 months and do not represent a significant shareholding (<10% of the company's share capital), capital gains are not taxable. If the shareholding is significant (>10% of the company’s share capital), capital gains are subject to income tax. 2. Dividends Dividends are generally subject to a 15% withholding tax. 3. Interest Interest received is generally subject to a 20% withholding tax.

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*Excluding securities issued by Spuerkeess and lux|funds; VAT 17% to be added on securities and precious metals. **Up to maximum per order of EUR 25.000 (or counter-value in currency) for equities, ETF, UCITS investment funds and bonds, executed in S-Net or S-Net Mobile.

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Service includedCustody fee: 0,25% /year for securities* und 0,35% /year for precious metals*
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*Excluding securities issued by Spuerkeess and lux I funds; the VAT rate to be added is 14% for securities and 17% for precious metals. **Up to maximum per order of EUR 25.000 (or counter-value in currency) for equities, ETF, UCITS investment funds and bonds, executed in S-Net or S-Net Mobile.

For more information, please consult the document ‘Main bank fees’ , which also includes the standard fees applicable to transactions carried out in branches.

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A securities portfolio is an investment account used to hold and manage financial instruments: equities, bonds, ETFs, investment funds, precious metals, etc...

It allows you to invest freely in the financial markets and thus diversify your savings. The risk associated with the securities portfolio depends on the financial instruments in which you have invested.

For more information, please refer to “A guide for investors” available at www.spuerkeess.lu.
The money invested in your securities portfolio is not locked and you can sell your financial instruments at any time via your online banking S-Net or your branch advisor. However, the counter-value of the financial instruments may have fallen at the time of the sale. Moreover, capital gains realised on shareholdings held for less than six months are subject to income tax in Luxembourg.

For more information, please refer to “A guide for investors” available at www.spuerkeess.lu.
If you buy or sell a security in a currency other than that of your current account (for example: a security priced in USD if your current account is denominated in EUR), an exchange fee of 0,10%, with a minimum of EUR 2,50 and a maximum of EUR 125, will be applied. To limit the impact of this fee when investing on the stock market, you can open a foreign currency account via the Store of your S-Net online banking. In this case, the exchange fee will only be applied when you transfer money from your foreign currency account to your current account in euros and not on each purchase/sale of securities.
The taxation applicable to securities portfolios in Luxembourg is relatively favourable, particularly for retail investors, but it varies according to the type of income generated (capital gains, dividends, interest) and the length of time the securities are held.

1. Capital gains tax on securities
If the securities are held for more than 6 months and do not represent a significant shareholding (<10% of the company's share capital), capital gains are not taxable.
If the shareholding is significant (>10% of the company’s share capital), capital gains are subject to income tax.
2. Dividends
Dividends are generally subject to a 15% withholding tax.
3. Interest
Interest received is generally subject to a 20% withholding tax.

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