Gift Voucher Scheme

Lightyear Europe AS (Lightyear) is authorised and regulated as an investment firm by the Estonian Financial Supervision Authority under activity license number 4.1-1/31, who administers this gift voucher scheme (Scheme) through the Lightyear App available on both Android and iOS. Lightyear is a company registered in Estonia with company number 16235024 and registered office Tallinn, Volta 1, 10412, Estonia.

Lightyear Gift Voucher Scheme

Version: 2.2
Date: 5 of July 2024
This Scheme is run in accordance with Lightyear’s Terms of Service and Privacy Policy and all other relevant legal documents, accessible here: https://lightyear.com/eu/documents. In the event of any conflict between this Scheme and the Terms of Service to which you have agreed as a user, the latter shall prevail. The definitions of capitalised terms set out in the Lightyear’s Terms of Service will apply to this Scheme unless otherwise stated in this Scheme.
  1. Lightyear’s gift voucher Scheme applies to residents that reside in a country where Lightyear Services are available in, and have received a gift voucher from Lightyear (Voucher) and meet requirements set out in this Scheme and Lightyear’s Terms of Service.
  2. The Voucher shall grant an eligible Voucher holder a gift (Gift). The nature and criteria of each specific Gift shall be specified on the Voucher or via marketing materials. The Gift can be of concrete monetary value (such as a specific sum worth of fractional shares) or a certain benefit (such as a certain feature in the App or a temporary change in our pricing).
  3. If the Gift is a fractional share of the financial instrument (Fractional Share), it is indicated as such on the Voucher. If the Voucher does not specify the Fractional Share, the Voucher holders can choose the Fractional Share themselves. Each Voucher shall be worth the sum in EUR as indicated on the Voucher, which shall be converted into USD to receive the Fractional Share. In that case, the following terms also apply:
    • After redeeming the Fractional Share in the Lightyear App, Lightyear shall place a market order on behalf of the customer to buy the Fractional Share indicated on the Voucher;
    • If the Fractional Share is redeemed at a time where the market, in which the Fractional Share is tradable, is closed, the Fractional Share shall be made available to the customer once the market opens and the order is filled.
  4. If the Gift provides a monetary sum worth of shares that are not fractionalised, Lightyear shall place a market order on behalf of the customer to buy the maximum amount of shares possible for that sum in EUR as indicated on the Voucher. This takes into account market fluctuations and fees (as may be applicable). Any leftover money from the Gift that was not used to buy the shares, shall be credited to the customer's account.
  5. The Voucher can be redeemed only by a customer that meets all the following requirements:
    • customer is a resident of a country where Lightyear Services are available as stipulated in section 1;
    • customer successfully finishes the full onboarding process (unless otherwise specified on the Voucher);
    • customer redeems the Voucher before the date as specified on the Voucher.
  6. The Voucher may also stipulate additional requirements that are made available either on the Voucher or in-App before claiming the Gift, such as for example restrictions based on the time of customer's account creation.
  7. The Voucher cannot be redeemed by customers that are in the waitlist and don’t have full access to the App. Such customers can redeem the Voucher once they gain access to all the functionalities of the App.
  8. By redeeming the Voucher, the customer acknowledges and agrees that:
    • Lightyear does not provide any investment advice or recommendations by making the Voucher available to the customer.
    • If the Voucher grants a Gift that is a share in a monetary amount, the customer is not entitled to any specific amount of shares. Amount of shares received by the customer will depend on the market price at the time of filling the order.
    • Standard Lightyear fees apply to the Voucher. For more details on pricing, please refer to Terms of Service and here: https://lightyear.com/en-eu/pricing.
  9. If Lightyear identifies abusive behaviour aimed to take advantage of this Scheme contrary to the Scheme’s purposes, Lightyear may disqualify such customers at any time from participation in the Scheme. If your Scheme has been deactivated due to abusive behaviour in the past, it will not be reactivated. The customer may not share the Voucher code with anyone else.
  10. We reserve the right to cancel, modify or terminate the Scheme at any time for any reason. We reserve the right to disqualify any customer at any time from participation in the Scheme if they do not comply with any terms within this Scheme.
  11. The entire value of shares when sold may be subject to capital gains tax. You can check the value of each share when issued and/or sold on your portfolio screen in the App.
  12. Any tax depends on your personal circumstances and if you are unsure about any tax implications, seek professional advice from a tax professional.