What is an investment savings account?
An investment savings account (ISK) is a Swedish account type for holding securities. Instead of being taxed on your gain when you sell, the account is taxed annually on a standardised amount calculated from its value. You therefore do not have to report individual purchases and sales in your tax return.
How the tax is calculated
The capital base is an average of the account's value at the start of each quarter plus any deposits made during the year. That base is multiplied by the Swedish government borrowing rate as of 30 November of the previous year plus one percentage point, subject to a floor of 1.25 percent. The result — the standardised income — is taxed as capital income at 30 percent. Since 2025 there is also a tax-free base level. Both that level and the rate change from year to year, so check the current figures with the Swedish Tax Agency.
ISK and unlisted shares
Unlisted shares do not normally count as eligible investment assets and therefore may not be held in an ISK. To be eligible, a share generally has to be traded on a regulated market or a multilateral trading facility. If you own unlisted shares, ownership is instead recorded directly in the company's share register, or via a share depository if the company is connected to Euroclear. A further exception applies to large holdings: shares in a company where you control at least ten percent of the votes or the capital are not permitted in an ISK, even if the company is listed.