What is Individual Investment Account (IIA)-3

Individual Investment Account (IIA)-3 is a new type of individual investment account that replaced old-type accounts on January 1, 2024

Features of Individual Investment Account (IIA)-3

• Has no limits on the top-up amount
• Allows you to receive two tax deductions: one for annual contributions, the other for income upon closing the Individual Investment Account (IIA)
  
• Withdrawal of funds while retaining the tax deduction is still available only when closing the account. However, an exception has appeared — money can be withdrawn for expensive medical treatment* without losing the deduction
  
• Coupons and dividends are now credited only to the Individual Investment Account (IIA)
  
• By law, up to three new-type Individual Investment Accounts (IIA) can be opened
  
• The minimum account holding period will gradually increase to 10 years: in 2024⁠-2026, the holding period is 5 years; from 2027, it will increase by one year annually. From 2031, an Individual Investment Account (IIA) can be opened for a minimum of 10 years
  

From January 1, 2024, only Individual Investment Account (IIA)-3 can be opened. If you have an active old-type Individual Investment Account (IIA), you will not be able to open a new one. You must close the old account or convert it to the new one 

*Expensive medical treatment includes: treatment of cancer, stroke, acute myocardial infarction, tuberculosis, severe forms of hearing and eye diseases, aortic diseases, benign brain tumor, as well as heart valve transplantation