Ukraine National Commission on Securities and Stock Market drafts law for Individual Investment Accounts with five-year tax benefit and access to state-owned shares

The Ukraine National Commission on Securities and Stock Market outlined plans to launch Individual Investment Accounts as a new retail channel for investing in securities, aimed at mobilising household savings into longer-term capital market funding. The initiative was presented by the Commission’s chair during a panel at the Kyiv International Economic Forum. Under the proposal, citizens would be able to invest in certain securities and receive a tax benefit, with income withdrawable without taxes if funds are not withdrawn for five years. The accounts are intended to be opened online through investment firms licensed by the Commission, including via the Diia platform, and the Commission said it has prepared a draft law and is discussing implementation with the government. The framework would also enable retail participation in shares of state-owned companies, with the Commission noting ongoing government-level discussions on selling 7% stakes, and citing examples including PrivatBank, Naftogaz and Ukrenergo. The Commission positioned the accounts and related digital solutions as a precursor to broader pension-market development, indicating that pension money would be connected to the market at a later stage after trading history helps identify which securities are safer for pension fund investment.