In case you haven’t heard of TBSZ before, it’s a system for long term investment accounts that act as tax wrappers, dropping your investment return tax from 15% to 10% after three years, and to 0% after five years of holding the investments. These tax benefits expand to Lightyear’s full product offering of over 3,500 stocks, ETFs, BlackRock Money Market Funds and gold in all available currencies.
As a Hungarian resident, you can open a free TBSZ in just a few clicks, straight on the Lightyear app. You can get started with a Lightyear TBSZ with just 25,000 HUF and there’s no extra fee for when you need to close the account and withdraw your money before the five years is up.
You can open one TBSZ per calendar year, for which taxes need to be filed at the end of every year. You can deposit money into your 2024 TBSZ all throughout this year, as the collection period ends on December 31st. After that, you can buy & sell using the money already in this year’s account, but for any new deposits, you’ll have to open up a TBSZ for 2025.
Adding free TBSZ to Lightyear’s product suite aligns with our mission to foster long term investing. Stock markets are a proven avenue to grow wealth over the long term and have historically shown to move upwards over the year. And if you can do that tax efficiently — well, that’s a match made in investing heaven!
Next up, we’ll be tackling another big ask from our Hungarian users, TBSZ transfers from other providers. And as always, if you have any feedback or product requests, don’t hesitate to get in touch with our team.
Disclaimer
Capital at risk. Terms apply, seek guidance if necessary. This is not tax advice.