Lump Sum for non-resident Granchild

[PetersGranny]

I want to deposit 5k for my grandchild in a long-term account. I would like it to be in his sole name or if not possible in both our names (preferably with only him having access to withdraw).

Is it possible to open an account for a child who is non-resident if you act as guarantor?

I was thinking of the national solidarity bond. Would this be a good choice and is it allowed for the second investor to be non-resident?

Thanks.

 

[Lightning]

Non-resident accounts are allowed. Joint accounts are also allowed.

I suggest you phone State Savings and talk to them about your situation.