Share savings account

A share savings account makes it easier and more favourable for you to save in shares and equity funds. Here you can buy and sell shares and equity funds, as well as exchange equity funds, without paying tax on profits as long as the profit is kept in the share savings account.

You can take out your cost price (acquisition value) at any time, tax-free. If you take out more than the cost price, the excess will be tax-liable after deducting any shielding deduction.

Taxable withdrawals are taxed as share income according to the applicable rates. A deduction for any losses cannot be made until the account is closed.

When you order a share savings account in DNB, you automatically get a bank account, a VPS account and a mutual fund account, all of which come under the share savings account.

All of the funds within these accounts will collectively constitute your share savings account in DNB.

You can use the deposits in your bank account to trade exchange-traded shares, equity certificates and equity funds in the share savings account. Do you want to withdraw money from the account, the money must be transferred to one of your other bank accounts in DNB.

When you buy Norwegian listed shares and equity certificates, these are registered in the VPS account. If you want to trade international shares, you need to open a foreign depository account (VP Utland Account) in the online bank. Open a VP Utland Konto by pressing the Savings and Investments tab, then Share Trading - My Page and the International Trade tab. Click on Create international trade.

With a mutual fund account, you are entered into DNB’s customer register for trading in equity funds.

At any time, you can transfer money from a bank account outside the Share Savings account to the bank account that is linked to the Share savings account. As soon as you get confirmation that the money has been transferred, you can use it to invest in individual shares, equity certificates and equity funds that are available to trade within your share savings account at DNB.

You can create a fixed savings scheme in your share savings account. When setting up a savings scheme in equity funds, you choose your share savings account as the Charge account and Mutual fund account. Then tick Make sure there are always sufficient funds for the savings scheme by withdrawing money from the following account to set up a standing order from another account, for example your usage account, into the share savings account bank account.

You can check the balance and change in value at any time in your share savings account, either in the online bank or in the Spare app on your mobile.

In the online bank, you’ll find the overview of the share savings account by pressing on the tab for Savings and investment – share savings account (ASK) – Overview

In Spare, you’ll find a share savings account under Me.

In both places, you can see how much you can withdraw from the Share savings account tax-free.

All private individuals who are domiciled in Norway for tax purposes can set up a share savings account. US citizens must also be permanently resident in Norway.

A share savings account is a distinctively Norwegian scheme, and if you are domiciled for tax purposes in a country other than Norway or are liable for withholding tax to another country for dividends from foreign companies, you should clarify with the Norwegian Tax Administration or a tax adviser whether the share savings account is suitable for you.

You can easily open a share savings account in the online bank. If you need assistance, you can call us on +47 915 04800.

To set up a share savings account for children, see here for guidance.

No, it’s free of charge to open a share savings account in DNB, but the underlying products cost the same inside the share savings account as outside.

See the summary here

You can trade in listed shares, equity certificates and exchange traded funds (exchange traded funds) in companies resident in countries within the EEA. For example, Borr Drilling falls outside because it is not registered within the EEA even though it is listed on the Oslo Stock Exchange.

You can trade a large selection of equity funds. It is a requirement that the equity fund must have more than an 80% proportion of shares. DNB Aktiv 80 is such a fund, but for example, the balanced fund DNB Aktiv 50 is not subject to this scheme as its proportion of equities is too low.

It will be possible to create up to ten Share savings accounts in DNB via online and the mobile banking app. If you need more than ten share savings accounts, you can contact us on 915 04800.

You can buy and sell equity funds in the normal way in Mutual fund trading in the online bank or our own savings app, Spare.

When buying equity funds for your share savings account, select the fund account that is labelled “Share savings account”. The online bank or savings app automatically selects the right account and guides you through the buying process.

Yes, you can move your share savings account with another savings provider to your share savings account in DNB at any time. We will help you with the transfer and merge the accounts into one Share savings account at DNB.

Read more and order a transfer.

DNB does not charge you when moving your Share savings account to us. The other savings provider may charge a fee for organising the transfer of the share savings account.

See the summary here

When selling shares in a Share savings account, you can transfer the amount to, for example, your current account only when the amount is shown as a recorded balance in the account overview. This usually takes about two working days. However, it is possible to trade new shares and mutual funds immediately.

A share savings account is a distinctively Norwegian scheme, and is therefore best suited to those who are domiciled in Norway for tax purposes. If you are liable to withholding tax abroad for dividends on shares outside Norway or are domiciled abroad for tax purposes, you should clarify with a tax adviser whether the share savings account is suitable for you, and how this should be reported correctly to both countries.

Dividends received on shares owned in the Share savings account also have a deferred tax liability to Norway, in line with profits. Only when the entire deposit and shielding deduction has been taken out will the gains/dividends that are taken out be taxed as capital gains in the non-professional’s hand.

Note that if you receive dividends from shares in foreign companies, the company’s country may be entitled to withholding tax on the dividend. The amount of withholding tax the country has the right to deduct depends on this country's internal rules and the tax agreement between Norway and this country. To avoid double taxation, you are basically entitled to deductions for withholding tax that is deducted abroad when calculating Norwegian tax on the dividend, but because the dividend in a share savings account is not taxed until the entire deposit has been withdrawn from the share savings account, this credit deduction can be lost. If you wish to invest in foreign dividend shares, you should therefore carefully consider whether these shares should be acquired in the share savings account or outside. If you would like more information about this, you should contact a tax adviser.

• You can make withdrawals from your Share savings account at any time by transferring to one of your other bank accounts in DNB.
• A share savings account cannot be used to make bill payments.

• If you wish to close your Share savings account, you must first sell the holdings you have of mutual funds and shares in the Share savings account.
• Upon termination, any total gain in the Share savings account will be taxed and any loss will be deductible.
• The share savings account can be closed by filling out the “Complete share savings account” form and submitting this via the electronic submission of fund forms here. You’ll find the form under Share savings account further down the page in the link.