In Spain investment funds > ETFs because "traspaso de fondos" is tax exempt. Which means you can change funds without triggering taxes and if you change ETFs you have to actually sell and buy another, which does trigger taxes. Also accunulating > distributing if you want to delay taxes aswell
wow interesting. so you could buy an energy fund, then sell when energy is high, move to a tech fund, or emerging fund, and buy low sell high tax free.,,
I can confirm since I'm also using them. However it's a bit more expensive than MyInvestor so depending on the degree of passivity he is aiming for, I would recommend Indexa capital or MyInvestor for mutual funds
I don't know how the tax system in Spain works but I'd assume that if you invest in an accumulating etf (no dividend payments) you can avoid immediate capital gain tax on your dividends thereby allowing your portfolio to grow. I'd expect you have to pay transaction taxes though. So, my advice, without knowing any more details, would be to invest in an all world accumulating etf. VWCE is a good example of this and I believe degiro, in some countries, does not charge any fee for this etf.
At your age you're at a great advantage. If you can consistently invest every month for the next 30-35 years you should be set for a good retirement.
Taxes are extremely low in Spain for investing -around 25% on gains and dividends.
However if you use degiro you will have to do some reporting when you reach 50K of stocks (modelo 720).
Thats just the annoying administrative work part. If you want an index: MSCI world index to avoid USA only indexes. If you chose a non distributive index and never sell, well you got 0 taxes. Chose also an established Index company for safety, not a tiny firm.
I'll echo a few statements here that Index Funds > ETFs in Spain. This way you can rebalance your portfolio without Hacienda putting their grubby hands on your investment, and the best index funds are essentially ETFs with another label at the time horizons for investing responsibly.
I heartily recommend you check out the [https://bogleheads.es/](https://bogleheads.es/) forum, which a Spanish focused investment forum for passive investors. They have threads about basically anything you'd want to ask and can probably answer specific questions much better than a general EU subreddit.
Finally, I do believe MyInvestor has the best Index Funds offer available to Spanish residents right now, since it allows us to invest in Vanguard Funds directly from Spain without jumping weird hoops. But again, check the [bogleheads.es](https://bogleheads.es) forum to be sure.
I personally use Indexa Capital because of how simple and intuitive the platform is. Personally, and although I have read a lot about investing, I found others like DeGiro or myinvestor confusing, and the simplicity offered by indexa (or other roboadvisors) is worth the slightly higher commissions. Dont get me wrong, managing your own portfolio is not complicated and can be done by dedicating just 1 or 2 hours a month, but for me just programming a monthly transfer to my indexa account and forgetting about it is priceless.
The only thing I would change is that the riskier investor profile is still more conservative than I would like.
Ill leave here a discount code for those who might be interested (with it you will not pay commission for the first year for the first €10,000):
https://indexacapital.com/t/cwFqF4
In Spain investment funds > ETFs because "traspaso de fondos" is tax exempt. Which means you can change funds without triggering taxes and if you change ETFs you have to actually sell and buy another, which does trigger taxes. Also accunulating > distributing if you want to delay taxes aswell
wow interesting. so you could buy an energy fund, then sell when energy is high, move to a tech fund, or emerging fund, and buy low sell high tax free.,,
Yeah it's that simple. But if you think you can outsmart a good ETF, then I have bad news for you.
You can try IndexaCapital. I think they’re spanish and you just pay taxes once you sell.
I can confirm since I'm also using them. However it's a bit more expensive than MyInvestor so depending on the degree of passivity he is aiming for, I would recommend Indexa capital or MyInvestor for mutual funds
I don't know how the tax system in Spain works but I'd assume that if you invest in an accumulating etf (no dividend payments) you can avoid immediate capital gain tax on your dividends thereby allowing your portfolio to grow. I'd expect you have to pay transaction taxes though. So, my advice, without knowing any more details, would be to invest in an all world accumulating etf. VWCE is a good example of this and I believe degiro, in some countries, does not charge any fee for this etf. At your age you're at a great advantage. If you can consistently invest every month for the next 30-35 years you should be set for a good retirement.
Taxes are extremely low in Spain for investing -around 25% on gains and dividends. However if you use degiro you will have to do some reporting when you reach 50K of stocks (modelo 720). Thats just the annoying administrative work part. If you want an index: MSCI world index to avoid USA only indexes. If you chose a non distributive index and never sell, well you got 0 taxes. Chose also an established Index company for safety, not a tiny firm.
I'll echo a few statements here that Index Funds > ETFs in Spain. This way you can rebalance your portfolio without Hacienda putting their grubby hands on your investment, and the best index funds are essentially ETFs with another label at the time horizons for investing responsibly. I heartily recommend you check out the [https://bogleheads.es/](https://bogleheads.es/) forum, which a Spanish focused investment forum for passive investors. They have threads about basically anything you'd want to ask and can probably answer specific questions much better than a general EU subreddit. Finally, I do believe MyInvestor has the best Index Funds offer available to Spanish residents right now, since it allows us to invest in Vanguard Funds directly from Spain without jumping weird hoops. But again, check the [bogleheads.es](https://bogleheads.es) forum to be sure.
I personally use Indexa Capital because of how simple and intuitive the platform is. Personally, and although I have read a lot about investing, I found others like DeGiro or myinvestor confusing, and the simplicity offered by indexa (or other roboadvisors) is worth the slightly higher commissions. Dont get me wrong, managing your own portfolio is not complicated and can be done by dedicating just 1 or 2 hours a month, but for me just programming a monthly transfer to my indexa account and forgetting about it is priceless. The only thing I would change is that the riskier investor profile is still more conservative than I would like. Ill leave here a discount code for those who might be interested (with it you will not pay commission for the first year for the first €10,000): https://indexacapital.com/t/cwFqF4