Despite the war and unprecedented economic challenges, the financial sector of Ukraine is working "for the future". Soon individuals will have an opportunity to open personal investment accounts. This tool is aimed to facilitate the attraction of long-term investments into the economy, especially relevant for post-war reconstruction, as well as provide citizens with tax advantages for investing their own savings.

The practice of accumulating savings by citizens on personal accounts is widespread in Western countries, in particular, the USA, Canada, the UK, the EU, etc. The draft law "On Amendments to the Tax Code of Ukraine and Other Laws of Ukraine on Stimulating the Participation of Citizens in Investment Activities" No. 8111, registered in the Verkhovna Rada of Ukraine in early October, is intended to introduce a corresponding instrument in Ukraine.

The National Commission on Securities and Stock Market (NSSMC), as one of the interested state bodies, has already reviewed this draft law and provided comments. The regulator generally supports the proposed text of the document, provided that its individual provisions are finalized.

The innovations will allow stimulate the inflow of private investment in the development of the economy over a long period. Any individual will be eligible to open a personal account - medium-term (up to 3 years) or long-term (up to 7 years) to invest their own savings. The service of opening an account, its maintenance, acting as a tax agent will be performed by an investment firm. The key feature of investment accounts is tax advantages. Subject to compliance with all the requirements for the account functioning (validity period, not exceeding the limit of the amount of storage, withdrawal not earlier than the established term), the owner is exempt from taxation of profits received from operations on these accounts.

It is also important to note that funds on individual accounts will actively "work". The investment firm in the interests of the owner will be able to invest them in reliable capital market instruments. In the first stage, it can be: municipal, corporate bonds, shares traded on the stock exchange, bank certificates of deposit, open investment funds (specialized, diversified).

"We consider investment accounts as a promising financial direction that will be interesting for a wide range of investors. Especially those who previously did not dare to enter the capital markets. There will be a simple procedure for opening and closing an account. In addition, it will be possible to transfer it from one investment firm to another. The zero tax rate will allow the investor to choose between the instruments in which to invest, taking into account their nature and riskiness, while the tax component will be the same", says Yurii Boyko, Member of the NSSMC.

Thus, the introduction of investment accounts will benefit the state, business, citizens (account holders). The state will receive "long money" that will contribute to filling the capital markets with liquidity. Businesses will receive support and resources for development through investments in their securities, while citizens - a reliable tool for investing their own savings.