Accredited investor in Singapore

by Joy
(Singapore)

Who is an accredited investor in Singapore? Why is there a need for it?

Thanks

Ask the Broker! answers:

Who is an accredited investor in Singapore?

Under the Securities and Futures Act1, an accredited investor is defined as

(i) An individual

  • (A) Whose net personal assets exceed in value $2 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount; or

  • (B) Whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount;
(ii) a corporation with net assets exceeding $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 —

  • (A) the most recent audited balance-sheet of the corporation; or

  • (B) 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;
(iii) the trustee of such trust as the Authority may prescribe, when acting in that capacity; or

(iv) such other person as the Authority may prescribe.

Why is there a need for it?

It's in place to protect the average person from investments that are deemed bad or risky.

The 'accredited' status implies that the investor can withstand a higher level of monetary risk than the non-accredited investor.

You can prove that your net personal assets exceed in value of S$2 million (or its equivalent in a foreign currency)

Using property
  • Property title deed
  • Property valuation report less than 6 months old from recognized valuers

Using Owner’s Equity
  • Latest audited annual accounting report of the company (audit report by the Big Fours and/or recognized registered audit company in the country)

Using Personal Investment/Savings
  • Latest investment portfolio statement (as at market value)
  • Latest bank statement

To prove income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency)

For Singapore Citizen and Permanent Residents

  • Last 12 months’ original computerized salary slip or
  • Latest Notice of Assessment
  • Last 12 months’ CPF contribution statement

For foreigners, in addition to the above documents
  • A copy of employment pass
  • Passport


Cheers

Lee Fang Wei

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References

1. Attorney-General’s Chambers, Securities and Futures Act (Chapter 289), http://statutes.agc.gov.sg, accessed 03/06/2010

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Nov 07, 2014
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If one was accepted as a client of Prhivare Banking before the accredited investor requiremements were introduced or raised but now no longer satisfy the new requirements may one be allowed to continue to hold such an account.

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If one was accepted as a client of Prhivare Banking before the accredited investor requiremements were introduced or raised but now no longer satisfy the new requirements may one be allowed to continue to hold such an account.

Mar 14, 2012
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What's the opposite of accredited investor?

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