What kind of account is an ISA (Individual Savings Account)?

An ISA is an account in which you can invest in various financial products, such as deposits, funds and listed shares, within a single account and receive tax benefits on the interest and dividend income generated.

Under the Restriction of Special Taxation Act, each person may hold only 1, and it is opened through an investment broker, discretionary investment manager or trust company. The contract period must be at least 3 years, and the tax benefit is calculated at termination by netting the gains and losses within the account.