My Stock Exchange: INR

• What is INR?
• An Individual Investment Account (INR) is a special type of account used for trading and holding financial instruments. Its key advantage is a highly favorable tax treatment, along with somewhat lower costs. However, these benefits come with certain limitations.
  
  An INR can only be opened by an individual who is a tax resident of the Republic of Slovenia. It can be opened only once in a lifetime and cannot be transferred to another person.
  
  Can we have both a regular trading account and an INR at the same time?
  Yes, you can have both. The only limitation is that funds cannot be transferred between a standard trading account and an INR.

• Who are INR providers?
• Providers can be companies licensed to perform investment services. Among them are all members of the Ljubljana Stock Exchange with headquarters in Slovenia, and the complete register of providers is maintained by ATVP at: https://www.a-tvp.si/seznami-in-registri/registri/register-ponudnikov-individualnih-nalozbenih-racunov-inr/

• What do I need to open an INR?
• Opening an INR is a simple process that is usually completed quite quickly. With most providers it is (or will soon be) possible to open it online, without visiting a branch.
  
  To open an INR you generally only need an identity document, a tax number, and a TRR number.
  
  You can open an INR only as a natural person if you are a tax resident of the Republic of Slovenia. You can open only one INR in your lifetime, but it is possible to transfer the account between individual providers.
  
  You do not need any special knowledge or experience to open an INR. During the INR opening process, the broker is obliged to provide you with extensive information, and in case of additional questions you can always contact them.

• Where can I invest?
• 
  INR sets certain restrictions regarding the types of investments and their geographical diversification.
  
  Within an INR you can invest in the following instruments:
  • Shares
  • Bonds
  • Treasury bills
  • ETFs
  • Mutual funds
  
  All instruments except mutual funds must be listed on a regulated market or MTF.
  
  INR also imposes certain restrictions on the geographical diversification of investments. Financial instruments must be admitted to trading venues in EU, EEA or OECD countries. At the same time, only ETFs or UCITS units are allowed that invest in issuers from these countries.

• How much can I invest?
• The law limits the total amount of contributions into an INR to 150,000 EUR. In addition, the law also defines the maximum amount an individual may invest in a single calendar year.
  
  In the first calendar year, a maximum of 20,000 EUR can be contributed into an INR, and in each subsequent calendar year an additional 5,000 EUR. Thus, the maximum contribution amount would be reached in 27 years.

• How to reach the maximum contribution amount faster?
• However, the law allows the possibility of faster contribution of funds. Each following year after the first year, you may invest an additional 5,000 EUR, but these funds may only be invested in domestic financial instruments. In this way, the maximum contribution amount into an INR can be reached significantly faster - in 14 years.

• Tax treatment
• The essential advantage of INR accounts is their tax treatment. An INR is the only type of account that enables long-term investing without paying tax - all returns are yours. The main tax advantages of INR accounts are:
  • Receiving dividends or interest on an INR account is not taxed (you receive the full gross dividend or interest on the INR)
  • Selling instruments at a profit is not a taxable event (you can switch investments without tax on the realized profit)
  
  These advantages apply until you withdraw money from the INR account. Upon withdrawal, a 15 % tax rate applies to the generated profit. However, one withdrawal every 15 years is completely tax-free if there are no other withdrawals. In this way, investing through an INR can achieve an effective tax rate of 0 %.

• Types of instruments and different tax treatment
• The favorable tax treatment via INR varies depending on the types of financial instruments. In general, the biggest difference compared to a trading account is seen with Slovenian shares and bonds.
  
  For Slovenian instruments, dividend or interest tax can effectively be 0 %, while with foreign instruments you must pay the foreign country’s tax (withholding tax).
  
  At the same time, within an INR you can trade without paying tax on realized gains even if you have not held the investment for 15 years. This advantage is less pronounced when investing in ETFs (where the structure of investments is automatically adjusted) or mutual funds, where your investments are adjusted by a professional or you can also switch between sub-funds without tax.

• Golden rules of investing
• An INR is an important benefit and particularly very favorable in terms of taxes for investors. However, following only the best tax treatment is not an investment strategy. An INR does not protect against losses, and all golden rules of investing still apply:
  • Invest only money you can afford to miss for a longer period
  • Consider your risk profile
  • Have realistic goals
  • Invest only in what you understand
  • Do not invest based on emotions
  • Diversify your portfolio
  • Watch costs
  • If something sounds too good, it probably is not true

• Typical types of costs
• As with a regular trading account, certain costs also arise with an INR. Costs are usually significantly lower, and in 2026 additional discounts are often available.
  Usual provider costs:
  • Account maintenance fees
  • Maintenance of instrument holdings
  • Trading commissions
  • Dividend payout fees
  Usual KDD costs:
  • Maintenance of instrument holdings
  • Corporate action processing fees
  • Trade settlement
  • Notification of dividend beneficiaries
  Usual LJSE costs:
  • Trading commission