Before You Start
- All participating adults’ identification documents (passport/ID card)
- Proof of address (utility bill, bank statement)
- Clear agreement on account ownership (joint, custodial, or adult-owned for family goals)
- Understanding of legal/tax rules in your country (see official government or tax office websites)
- EUR-denominated bank account for funding investments
Time needed: 60–90 minutes for setup; allow extra days for identity verification
What you'll need: Computer or smartphone, internet access, access to DEGIRO, Trade Republic, or a local broker
A family investment account in Europe is a flexible way to build wealth together—whether you’re saving for your children’s future, funding a shared project, or teaching financial skills. As we covered in our Ultimate 2026 Guide to Budgeting and Saving for Europeans, mastering your family’s finances starts with the right structure. This step-by-step guide focuses on the practical details: legal requirements, tax implications, EUR minimums, broker selection, and how to start investing as a family on European-accessible platforms.
Step 1: Decide on the Right Account Structure
What to do: Choose among joint accounts, custodial accounts (for children), or an adult-owned account earmarked for family goals. Each has different legal and tax implications across Europe.
- Joint account: Owned by two or more adults (partners, parents).
- Custodial account: Opened by an adult for a minor; the adult manages until the child reaches the age of majority (varies by country, usually 18).
- Adult-owned account for family: Simple, but assets legally belong to the adult.
Why it matters: Your choice affects who can access funds, how taxes are reported, and inheritance rules. For example, Germany allows junior custodial accounts, but Spain restricts joint brokerage accounts for non-married couples.
What can go wrong: Choosing the wrong type might cause tax headaches or disputes over ownership. Always check your local laws—see official tax office or regulator websites for your country.
Pro Tip
For tax advantages when investing for children, consider a custodial or junior account. For a detailed walkthrough, see our guide on setting up a tax-efficient junior investment account in Europe.
Step 2: Gather Required Documentation
What to do: Collect identification (passport or national ID) and proof of address for all account holders and, if applicable, the child. Some brokers may ask for birth certificates for custodial accounts.
Why it matters: European anti-money laundering laws require strict ID checks. Missing documents will delay or block account opening.
What can go wrong: Documents must be current and match your registration details. Double-check expiration dates and address accuracy.
Pro Tip
Scan or photograph all documents before starting the online application. This speeds up the process and helps if you need to re-submit.
Step 3: Choose a European-Accessible Broker
What to do: Select a broker that supports your preferred account type and is regulated in your country. Popular options include DEGIRO and Trade Republic, both of which are accessible across much of Europe.
| Broker | Account Types | EUR Minimum | Fees | Notable Features |
|---|---|---|---|---|
| DEGIRO | Individual, Joint (in some countries), Custodial (Germany, NL) | €0 | €1–2 per trade; free ETF list | Wide ETF selection, low fees |
| Trade Republic | Individual only (can earmark for family use) | €1 | €1 per trade, €0 for savings plans | Simple savings plans, mobile-first |
Why it matters: Not every broker offers joint or custodial accounts. Double-check availability in your country and for your preferred structure.
What can go wrong: Choosing a broker that doesn’t support your needed account type means starting over. If in doubt, contact broker support before applying.
Pro Tip
If you want to invest for children and your broker doesn’t offer custodial accounts, consider opening a separate adult account clearly labeled for your child’s benefit. Keep records for tax and gifting purposes.
Step 4: Register and Verify Your Account
What to do: Complete the online registration. For DEGIRO: choose “Joint Account” if available, or “Custodial Account” in Germany/Netherlands. For Trade Republic: open an individual account (can be used for family goals).
- DEGIRO: Go to degiro.com → Sign Up → Select account type → Upload all required documents → Complete video or online ID check.
- Trade Republic: Download the app or visit traderepublic.com → Register with your details → Complete ID verification in-app.
Why it matters: Brokers are legally required to verify your identity. This protects your assets and prevents fraud.
What can go wrong: Upload blurry scans or mismatched info, and your application may be rejected. Respond quickly to any broker requests for clarification.
Expected outcome: You’ll receive a confirmation email or app notification once your account is verified and ready to fund.
Step 5: Fund Your Family Investment Account
What to do: Transfer EUR funds from your bank account. Most brokers provide a unique IBAN or payment link.
- DEGIRO: Log in → Deposit/Withdraw Funds → Select EUR → Follow instructions for SEPA transfer.
- Trade Republic: Tap Profile → Deposit Money → Copy your Trade Republic IBAN → Initiate SEPA transfer from your bank.
Why it matters: Only funded accounts can invest. Transfers within the SEPA zone are usually free and arrive within 1–2 business days.
What can go wrong: Entering the wrong reference or IBAN can delay or misdirect funds. Always double-check before sending €.
Expected outcome: Your investment account will show the credited EUR balance, ready for investing.
Pro Tip
Start with a small test transfer (e.g., €10) to ensure everything works, then fund the full intended amount.
Step 6: Select Your Family’s Investment Vehicles
What to do: Choose what to invest in: ETFs (broadly diversified, low-cost), individual stocks, or bonds. For most families, a global EUR-denominated ETF is a strong core holding.
- ETFs: e.g., iShares Core MSCI World UCITS ETF (EUNL)—tracks global stocks, EUR-denominated.
- Bonds: EUR government or corporate bond ETFs (e.g., Xtrackers II Eurozone Government Bond UCITS ETF).
- Stocks: Only if you want to hand-pick companies—riskier and less diversified.
Why it matters: Diversification reduces risk. ETFs are cost-effective and simple to manage for family goals.
What can go wrong: Over-concentrating in a single stock or sector increases risk. Avoid niche or leveraged ETFs for family portfolios.
Expected outcome: After purchase, you’ll see your selected ETF, stock, or bond in your portfolio, with the current EUR value.
Pro Tip
Most brokers offer free or €1/month ETF savings plans. In Trade Republic, tap Portfolio → Savings Plan → Select ETF (e.g., EUNL) → Enter monthly amount (minimum €1) → Confirm. You’ll see your first scheduled investment in your activity feed.
Step 7: Review Legal and Tax Obligations
What to do: Research tax rules for investment accounts in your country—who pays tax, when, and how much. Many countries offer allowances for children’s accounts or joint ownership.
- Declare investment income and capital gains annually, unless your broker withholds tax at source (common in Germany, rare elsewhere).
- For custodial accounts, income is usually taxed in the child’s name, subject to local rules.
Why it matters: Mistakes can result in penalties or lost tax benefits. For example, in France, child accounts have a separate annual tax-free threshold.
What can go wrong: Not declaring gains, or misreporting ownership, can trigger audits or fines. Check your tax authority’s official guidance.
Pro Tip
Keep a digital folder with annual broker statements and trade confirmations. This makes tax filing and future withdrawals much simpler.
Common Mistakes When Setting Up a Family Investment Account in Europe
- Assuming all brokers offer joint or custodial accounts—many do not
- Using a single adult’s account for family wealth without a clear record of intent
- Neglecting to research country-specific tax laws (e.g., gift tax, minor’s income rules)
- Overlooking EUR minimums for savings plans or investments
- Choosing high-fee or niche products instead of broad, low-cost ETFs
- Failing to keep documentation for all contributions and withdrawals
Next Steps: Growing and Managing Your Family Portfolio
Congratulations—your family investment account is ready! From here, consider these actions:
- Set up recurring EUR contributions and automate savings plans for consistent growth
- Review your asset allocation annually and adjust as your family’s goals change
- Explore EUR cash management options for holding uninvested funds—see our guide on EUR cash management solutions
- For budgeting strategies, see how the 50/30/20 rule can help structure your family’s finances
- If you’re interested in joint accounts for adults, learn more in our joint investment account guide
- For younger children, compare the best EUR savings accounts for children
With these steps, you’ll build a strong, transparent foundation for your family’s financial future.
Disclaimer: This article is for educational purposes only and does not constitute financial advice. Always do your own research and consider consulting a qualified financial advisor before making investment decisions.