Individual Savings Account (ISA): Enrollment Period, Trust-Type/Entrusted-Type ISA, and Tax Benefits

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1.ISA Account (Individual Savings Account), Tax Benefits, Investment Strategy, Financial Products
2. ISA Account Subscription Period, Trust-type ISA, Investment advisory-type ISA, Tax Benefits, Individual Comprehensive Asset Management

3. ISA Account Closure, ISA Account Financial Management, Tax Benefits, Stock Investment

ISA accounts are financial products that have recently gained significant attention. In this article, we will delve into the subscription period of ISA accounts in detail. ISA accounts, or Individual Savings Accounts, offer the advantage of investing in a variety of financial products. Let's examine ISA accounts one by one.

What is an ISA account?
An ISA (Individual Savings Account) is an account designed to help individuals manage and invest their assets. This account is popular due to its tax benefits. Specifically, you can receive tax-exempt benefits up to a certain amount on profits earned through an ISA account.

Eligibility for ISA Accounts
Anyone over the age of 19 who is a resident can subscribe to an ISA account. Subscription is possible regardless of income, and only one account can be opened. Those working in agriculture are also eligible.

Subscription Period for ISA Accounts
The mandatory subscription period for ISA accounts is generally 5 years. However, under certain conditions, the subscription period can be shortened to 3 years. For example, this applies to young people aged 15 to 29 or those meeting specific income criteria. It is important to understand these conditions well before subscribing.

Types of ISA Accounts
ISA accounts can be broadly categorized into trust-type ISAs and investment advisory-type ISAs. Trust-type ISAs allow customers to choose and invest in various financial products. Conversely, investment advisory-type ISAs are managed directly by the bank, with assets managed according to the customer's investment style.

Advantages of ISA Accounts
The biggest advantage of ISA accounts is the tax benefits. Profits up to 2 million won per year are tax-exempt, and a 9.9% tax rate applies to any excess. Also, the annual payment limit is set at 20 million won, allowing for investment up to a maximum of 100 million won.

How to Subscribe to an ISA Account
To subscribe to an ISA account, it's advisable to first visit a bank or brokerage firm for a consultation. After the consultation, prepare the necessary documents to open the account. Generally, you may need an ID card and income verification documents.

Frequently Asked Questions about ISA Accounts
Many people have questions about ISA accounts. For example, there are many questions about whether you can cancel at any time after subscription, or what to do after the subscription period ends. ISA accounts can be extended even after the mandatory subscription period ends, but be aware that tax benefits may disappear upon cancellation.

Conclusion and Additional Information
ISA accounts provide a good opportunity to invest in a variety of financial products. Because of the significant tax benefits, it is advisable to develop and utilize a long-term investment plan. Additional information can be found on the official websites of each financial institution.

For more information on ISA accounts, please check the links below:

Hanwha Investment & Securities ISA Guide
Samsung Securities ISA (Individual Savings Account) Guide
What is a KB Kookmin Bank ISA?
We hope this article helps you subscribe to an ISA account.

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