In the following sections, we show our perspective on how to tackle the open questions in the field of EEG genetics. We first argue why EEG may be crucial for advancing understanding of synaptic and circuit‐level functioning of the brain in normal functioning and disease, and how oscillatory activity captures important characteristics of information processing in the brain. Next, we focus on describing the challenges for international EEG genetics collaborations, especially those regarding analytic and methodological choices, and homogeneity within and across cohorts. We also describe in more detail the key scientific questions that we aim to address in our next endeavors. This results in our future plans for investigating the genetics of EEG‐based brain activity.