Junior NISA

A type of NISA for Japan-resident children aged below 20, summarised below:

• Annual investment limit of ¥800,000.
  • This is within the gift tax annual limit of ¥1.1 million.
  • The limit is per calendar year irrespective of when within the year the account was opened.
• Cannot be transferred to other financial institutions (unlike other NISAs).
• The JNISA began in 2016 and will end in 2023.
• The investments can remain invested tax free until the child turns 18, even after 2023.
• No withdrawals in principle until 18… however, when the JNISA ends in 2023, funds will be transferred to a regular securities account, where withdraws are permitted.

Credits

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Kuma