View the entire Frequently Asked Questions (FAQs)
Can I invest for my kids through QuietGrowth?
Yes, you can invest for your kids with QuietGrowth. However, your kids cannot invest by themselves through QuietGrowth. This is because an individual has to be at least 18 years old to open a QuietGrowth account.
Below are three options for you to invest for your child or grandchild with QuietGrowth.
|Option||New QuietGrowth account is opened?||Legal owner|
|1||Add a new portfolio in your existing QuietGrowth account, keeping in mind that the portfolio in your account is meant for your kids. You can name the new portfolio as 'Kids' or something similar for your reference.||No||You continue to be the legal owner of all the portfolios in your existing QuietGrowth account.|
|2||Open a separate QuietGrowth account with ‘Individual’ account type and invest in that account keeping in mind that all the portfolios in that account is meant for your kids.||Yes||You become the legal owner of the new QuietGrowth account.|
|3||Set up a Family Trust or Discretionary Trust, add yourself as a trustee and add your kids as beneficiaries. Then the trustee of that trust opens a QuietGrowth account with the 'Trust' account type.||Yes||The trust becomes the legal owner of the new QuietGrowth account.|
For any tax implications resulting from setting up a trust, we recommend you to speak with your tax adviser.
For setting up a family trust, please contact your accountant or lawyer or someone authorised to set up a trust. We at QuietGrowth do not set up a trust.