Poland prepares OKI accounts with a 100,000 tax exemption limit from 2027
From January 2027, Poland will roll out Personal Investment Accounts to spur retail market participation. The Poland tax free investment account will exempt domestic assets from the 19% capital gains tax up to 100,000 in local currency, aiming to direct 74 billion into the Warsaw Stock Exchange.
⚡ Key numbers:
- 100,000 – tax exemption ceiling in local currency under the new OKI investment accounts
- 74 billion – capital inflow in local currency to the Warsaw Stock Exchange projected by 2040
- 37% – household assets held in cash and current bank deposits in Q1 2026
- 1% – maximum asset tax on holdings exceeding the statutory limit
New investment account framework
Starting January 2027, the Polish government will introduce Individual Investment Accounts, known locally as OKI. As highlighted by Piotr Kamiński of the Polish Economic Institute, the program exempts domestic currency equities, bonds, and mutual funds from the standard 19% capital gains tax on balances up to 100,000.
Investors will be allowed to open accounts across several institutions, though the statutory threshold applies to the aggregate balance. Holdings beyond 100,000 will be subject to a wealth levy capped at 1%, calculated via a formula that factors in daily valuations, deposit history, and holding periods.
Mobilising household cash reserves
Data from the Polish Development Fund cited by Kamiński indicates that Polish households keep over 37% of their financial wealth in physical cash and liquid bank accounts as of Q1 2026, alongside 10% in fixed-term deposits. By contrast, direct equity investments account for just 2.9%, with investment fund units representing 6.2%.
The Ministry of Finance forecasts that OKI could channel roughly 74 billion into the Warsaw Stock Exchange by 2040. Warsaw is drawing inspiration from international models: Sweden counts over 4.2 million ISK accounts in 2025, while Japan expanded its tax incentives, pushing investment accounts to 30.5 million by June 2026, an 8.1% gain compared to late 2025.
“Even so, a significant share of British households still prefers safe forms of savings thanks to cash ISA accounts. Assets accumulated across all ISA savings accounts reached GBP 952 billion”
— Piotr Kamiński, economist at the Polish Economic Institute (via money.pl)
Financial education will determine uptake
Economists stress that tax cuts alone cannot ensure long-term engagement. Kamiński pointed out that domestic participation depends heavily on financial literacy, straightforward tax reporting, and operational transparency across domestic brokers and retail banks.
What to watch next
- January 2027 – formal entry into force of the OKI legislation in Poland
- Publication of the technical formula for taxing assets above 100,000
- Rollout of OKI brokerage products by commercial financial institutions
Frequently asked questions
What is the new OKI investment account in Poland?
OKI is a retail savings account launching in January 2027 that exempts qualifying capital gains from the 19% tax up to 100,000.
Which assets qualify for the tax exemption?
The tax shield applies to domestic currency securities, including shares listed on the Warsaw Stock Exchange, bonds, and investment fund units.
How are assets above 100,000 taxed under OKI?
Balances exceeding the 100,000 limit will face an annual asset levy of up to 1%, calculated through a specific daily valuation model.
Sources: money.pl, Bankier.pl, Forsal.
Disclaimer: This article is for information purposes only and does not constitute investment advice. Data as of Oct 31, 2026, 12:47 may vary by source. Trading leveraged CFDs carries a high risk of losing money.
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