What is an aktiesparekonto?
The aktiesparekonto was introduced in 2019 to make it cheaper for ordinary people in Denmark to invest in shares. It is not a product in itself but a tax wrapper around a share account. Inside it, the whole return, both price gains and dividends, is taxed at 17% every year under the mark-to-market principle (lagerbeskatning), whether you sell or not.
Outside the account, share income is taxed at 27% up to 79,400 kr. a year (158,800 kr. for married couples) and 42% above that in 2026. That gap is why the account matters, especially for beginners investing modest amounts.
How much can you deposit in 2026?
The ceiling is 174,200 kr. in 2026. It applies per person, so a couple can have two accounts with a combined ceiling of 348,400 kr. You can only have one aktiesparekonto at a time.
The ceiling is not a lifetime total of what you have paid in. The starting point is the account's total value on 31 December the year before, meaning shares and cash on the account. If that value is below the ceiling, you can deposit the difference during the year.
Example: working out this year's room
On 31 December 2025 your aktiesparekonto is worth 105,000 kr. In 2026 you can deposit up to 69,200 kr. (174,200 minus 105,000). If you withdraw 70,000 kr. in March, you can deposit the 70,000 kr. again before the end of the year.
When the account grows above the ceiling
If your investments rise so the account is worth more than the ceiling, you do not have to do anything. You do not have to sell, and there is no penalty. You simply cannot deposit more. For example, if you bought shares for 100,000 kr. in 2024 and they are worth 175,000 kr. on 31 December 2025, you cannot deposit anything in 2026, but the money can stay and keep growing.
If the account is already above the ceiling, a withdrawal only gives you room again if the value afterwards is below the ceiling. With an account worth 180,000 kr., withdrawing 4,000 kr. leaves 176,000 kr., still above the ceiling, so you cannot put the 4,000 kr. back. Withdrawing 10,000 kr. brings the value to 170,000 kr., and you can deposit 4,200 kr. again.
What happens if you deposit too much?
If you deposit more than you have room for, you must withdraw the excess as soon as you discover the mistake. As long as the excess stays on the account, you pay a 3% charge every year on that amount. Depositing 10,000 kr. too much costs 300 kr. a year.
What can you hold in an aktiesparekonto?
- Shares and share-based investment funds.
- Foreign ETFs only if they are on Skat's Positive List of share-based investment companies. The list is updated every December, and funds can drop off it, so check it before you buy.
- Bonds and bond funds are not allowed.
Nordnet, Saxo and most Danish banks offer an aktiesparekonto. The cash account behind it has to be with a bank. Nordnet's and Saxo's monthly savings plans cannot be linked to an aktiesparekonto, but a few providers, such as Endavu, allow it. Everywhere else you can still save a fixed amount each month by transferring it and buying yourself.
What about losses?
Gains and losses on the aktiesparekonto are not part of your annual tax return. Your bank calculates the tax on the account. If you have a loss in a year, the bank records a negative tax, which is carried forward and deducted from the account's tax in the next year with a positive return. If you close the account with an unused negative tax, it is lost and cannot be used on a new account later.
Will the rules change?
In June 2026 the government proposed raising the ceiling to 500,000 kr. and basing it on deposits instead of the account's value. That is a political goal, not law. Until a bill is passed, the rules above apply.
See what the account is worth to you
Our aktiesparekonto calculator compares the account with a regular brokerage account over time, using the 2026 figures. For the bigger picture of accounts, tax and brokers, read how to invest in Denmark as an expat.
Figures checked on 17 October 2026 against skat.dk. This article is general education, not personal tax or investment advice.