Investing in Child's name

henryd65

I want to take advantage of the ability to transfer eur 3,000 tax free to my children each year and I also want to buy shares, not funds, in their name using this money.

Is it possible to set up a trading account in Ireland for a child ?

OttoPilot

If you are under 18 I believe you can only hold shares through a nominee account with Davy stockbrokers (and probably most others). This is from their website.

What is a Nominee Account?

A Nominee Account is an account in which the named holder (the nominee) holds assets on behalf of another party (the beneficiary). All Davy Select accounts are held in nominee.

When you hold shares in a company through Davy Select the shares are registered in the name of Davycrest Nominees on the company's electronic share register. You remain the beneficial owner of the shares. All mailings from the Company are sent to Davycrest Nominees, who will notify you when necessary.

henryd65

Thanks OttoPilot,

I don't think that will work for me in relation to future CAT.

Looks like I may not be able to do this.