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Investing on behalf of a child

  • 23-07-2015 05:20PM
    #1
    Rader200
    Registered Users, Registered Users 2 Posts: 5 ✭


    Hi,

    I'm currently gifting my young child 3k per year (the tax free gift threshold), which I hope to continue for years to come - all being well. The savings (An post & bank) are held in his name. However, taking the longer term view on this, I'd like to invest in something other than a very low return deposit account.

    Can anyone tell me if it is possible to invest money in funds etc. other than deposit accounts that are held in my son's name? So far, I've been told that for a fund to be in his name, he must be 18.

    Thanks
    Tagged:


Comments

  • #2
    waldo
    Registered Users, Registered Users 2 Posts: 166 ✭✭waldo


    I set up a rabobank account for my toddler (only to lodge a cheque in his name). I requested a complementary investment account to match the savings account. I had no trouble buying funds in his name. This might be an option, esp some of their low cost index tracker type products


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