For all bond positions an annual custody fee applies (charged as a percentage of the market value):
The custody fee is charged quarterly (using the closing price on the last trading day of each quarter), or on exit from/sell of the bond position where the client will be subject to the fraction of the quarterly fee for which they have held the bond.
From January 1, 2015
Custody fees for stocks, ETFs/ETCs and bonds
For accounts with stock, ETFs/ETCs or bond positions a custody fee of 0.12% p.a. with a monthly minimum fee of EUR 5.00 will apply.
The custody fee will be calculated daily using the end of day values and charged on a monthly basis.
|Stocks & ETFs/ETCs
Value Added Tax (VAT)
Custody fee is a VAT liable service, so VAT will be applied on top of the custody fee:
- residing within the EU, Danish VAT 25% will apply
- residing outside of the EU, no VAT will be applied by Saxo Bank A/S
- having its place of business in Denmark, Danish VAT 25% will apply
- having its place of business within the EU (except for Denmark), no VAT will be applied by Saxo Bank A/S if a valid EU VAT ID is provided.* A reverse charge invoice will be provided.
- having its place of business within the EU (except for Denmark), Danish VAT 25% will be applied if a valid EU VAT ID is not provided.
- having its place of business outside the EU, no VAT will be applied by Saxo Bank A/S, but local VAT rules may apply
*Only a EU VAT ID that is verifiable through the EU commission’s website:
http://ec.europa.eu/taxation_customs/vies/vatRequest.html?local=en will be registered as a valid EU VAT ID. If the EU VAT ID is not verifiable, please contact your local VAT authority.