Accredited Investor

Included within the definition of “accredited investor” under the Securities and Futures Act, are investors who fall within any of the following categories:

A. an individual –

• whose net personal assets exceed in value S$2 million (or its equivalent in a foreign currency) or such other amount as the Monetary Authority of Singapore (“Authority”) may prescribe in place of the first amount; or
• whose income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;

B. a corporation with net assets exceeding S$10 million in value (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe, in place of the first amount, as determined by –

• the most recent audited balance sheet of the corporation; or
• where the corporation is not required to prepare audited accounts regularly, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance-sheet, which date shall be within the preceding 12 months;

C. the trustee of a trust of which all property and rights of any kind whatsoever held on trust for the beneficiaries of the trust exceed S$10 million in value (or its equivalent in a foreign currency), when acting in that capacity;

D. an entity (other than a corporation) with net assets exceeding S$10 million in value (or its equivalent in a foreign currency). For the purpose of this category, an “entity” includes a corporation (as defined in Section 4(1) of the Singapore Companies Act, Cap 50), an unincorporated association, a partnership and the government of any state, but does not include a trust;

E. a partnership (other than a limited liability partnership within the meaning of the Limited Liability Partnerships Act 2005 (Act 5 of 2005)) in which each partner is an accredited investor; and

F. a corporation, the sole business of which is to hold investments and the entire share capital of which is owned by one or more persons, each of whom is an accredited investor