When you start investing, the first choice is often the most important: Which account should you use? The two most popular and tax-friendly choices in Norway are the Share Savings Account (ASK) and the Investment Account (often called Zero account).
"What you prepare for is what you will get."
— Florence Scovel Shinn
Are you preparing to buy American tech stocks, or will you stick to Norwegian companies? The answer to this determines which account is best for you.
Main differences
The big rule: ASK can ONLY be used for stocks and funds domiciled in the EEA (Europe). Investment Account (Zero) can be used to trade stocks worldwide!
Share Savings Account (ASK)
- Gives you shielding deduction automatically.
- You own the shares directly in your own name (you get voting rights at general meetings).
- Only for European stocks (EEA).
Investment Account (Zero)
- Can be used for stocks from all over the world, including the US and Asia.
- The account itself is an insurance product, so the bank is the formal owner, while you have the right to the value.
- Easier handling of withholding tax on foreign dividends.