An ISK (Investeringssparkonto) is one of the most popular ways to invest in Sweden. You pay no capital gains tax on individual trades but instead pay a low annual standardized tax calculated automatically on your total account value. As of January 1, 2026, the first SEK 300,000 is tax-free.
To open an ISK, you generally need a Swedish personal identity number (personnummer) and Mobile BankID. The process typically takes just a few minutes online.
A step-by-step guide to opening an ISK account in Sweden, from choosing a provider to making your first investment.
Choose Your Provider
Popular options include dedicated investment platforms and traditional banks:
Digital brokers (typically lower fees):
- Avanza — Sweden’s largest digital broker, free ISK account
- Nordnet — popular alternative with competitive pricing
Traditional banks:
- SEB, Swedbank, Handelsbanken, Länsförsäkringar, Danske Bank
Open the Account Online
- Log in to your chosen bank or broker using Mobile BankID
- Navigate to the savings or investments section
- Select “Open new account” or “Open ISK”
- Accept the digital terms
- The account is created instantly
In-Person or by Phone
If you do not have BankID or are a new customer, contact your bank directly. Länsförsäkringar can assist in English by phone or in branch. Interactive Brokers also allows eligible Swedish residents to request an ISK through their client portal.
Start Investing
Once active, deposit money and begin buying eligible investments such as stocks, ETFs, and mutual funds. At some providers like Interactive Brokers, cash may need to be converted to Swedish kronor before transferring into the ISK.
Locals and expats discuss the ISK account model and why it is a preferred investment vehicle in Sweden.
Key Benefits
Opening and holding an ISK is free of charge at many providers, including Avanza. The account is protected by the government deposit guarantee and investor protection scheme, making it a highly accessible and tax-efficient option for long-term saving in Sweden.
Final Thoughts
If you have a personnummer and Mobile BankID, opening an ISK is one of the quickest financial steps you can take in Sweden. Compare providers for fee structures and fund availability, then start investing the same day. The tax treatment makes it especially attractive for long-term investors.
Source: Skatteverket.se
