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Who is an Accredited Investor?

An Accredited Investor (“AI”) is someone who meets the requirements below set out by the Monetary Authority of Singapore (MAS) and has opted in to be treated as an AI. Als generally have access to a wider range of investment products.

 

Accredited Investor (AI) Criteria & Acceptable Documents

CRITERIA - Individual

  • Net personal assets exceed S$2 million (or its equivalent in a foreign currency), but net equity of primary residence capped at S$1 million of the S$2 million threshold.
  • Net financial assets (net of any related liabilities) exceed S$1 million (or its equivalent in a foreign currency).
  • Income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency)
  • In case of an Individual who is also a “Karta” of a HUF (Hindu Undivided Family) we can accept the HUF income/assets held as that of the individual.

CRITERIA - Non Individual / Corporate Entity

  • TOTAL Assets equal to or greater than S$10 million (based on 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)
  • If the entity being onboarded is a 100% SUBSIDIARY, the criterion can be fulfilled by the Parent entity
  • If the entity entire share capital is owned by one or more individuals, all the of individual needs to meet the AI Criteria (Individual).

CRITERIA - Trustee of Trust, when acting in that capacity where

  • Trust property exceeds $10 million in value (or its equivalent in a foreign currency); or

  • All beneficiaries of the trust are AIs; or

  • All settlors are AIs and have settlor reserved investment powers and revocation powers.

 

ACCEPTABLE PROOF - Individual

Annual Income

  1. Salary slips for last 12 months
  2. Bank Statements highlighting salary credit in the last 12 months-  it can be less than 12 months if it exceedsS$300k.
  3. Company Letter indicating Annual Compensation. The letter should be issued no more than 3 months-old
  4. Last filed Tax return. Previous Financial Year close preferred. If not yet filed, the prior year can be provided, with the confirmation that the latest is not yet filed and will be made available within 30days of filing

FINANCIAL NetWorth (all documents must be no more than 3 months old):

  1. ‍Bank or Broker/Holdings statement(s) with value (e.g. Holdings that indicate number of shares will not be considered if the holdings are all publicly traded) indicating assets and liabilities (if any).
  2. In the case of privately held shares; proof of ownership along with the valuation certificate of the Company

TOTAL NetWorth (all documents must be no more than 3 months old):

  1. Bank or Broker/Holdings statement(s) with value (e.g. Holdings that indicate number of shares will not be considered if the holdings are all publicly traded) indicating assets and liabilities (if any).
  2. In case of privately held shares; proof of ownership along with valuation certificate of the Company‍
  3. In case of property; proof of ownership along with valuation certificate issued in the last 3 months by a recognised valuer or Bank / Lending company which offers loans on property
  4. In case of other assets (e.g. art, jewellery, etc.); proof of ownership along with valuation certificate issued in the last 3 months by a recognised valuer

Reminder : If you include the value of your primary residence in your net personal assets, the value of your residence will be taken as the lower of: (i) the residence’s value less any outstanding amounts in respect of any credit facility that is secured by the residence from the estimated fair market value of the residence; or (ii) S$1 million

For Joint Account

If all joint account holders individually qualify and have opted in for AI status, all joint account holders may be treated as an AI in respect of dealings through that joint account.

For accounts where one or more joint account holders are non-AI, the joint account may be treated as AI if:

  1. at least one joint account holder has been assessed to meet the AI-eligibility criteria and has opted in to be treated as an AI; and
  2. all joint account holders opt in to be treated as AIs in respect of dealings through the joint account only. You may opt in for your joint account by contacting your Relationship Manager .

Note

  1. AI proof must be within 3 months
  2. Date should be clearly visible on the proof - AI proof without date will be rejected
  3. Name of the client has to be clearly visible on the proof- AI proof without name will be rejected
  4. In case the AI proof is illegible it will be rejected
  5. AI proof should be in the name of the client or as a joint account holder in the holdings statement. Individual holdings of the family members cannot be accepted as AI proof.
  6. Self-declaration from the client is not acceptable.
  7. In case of exception - management approval is mandatory
  8. KYC of a client won’t be approved without AI proof
  9. Income from House rent can be included as AI proof
  10. While calculating net worth - the highest exchange rate recorded in the last three months is taken from the MAS website