Under Section 4A(1)(a) of the Singapore Securities and Futures Act, an accredited investor is defined as below:

FOR INDIVIDUAL INVESTORS

“ACCREDITED INVESTOR” (AI) means an individual-

  • whose net personal assets exceed a minimum amount of S$2 million (or its equivalent in a foreign currency); the estimated fair market value of an individual’s primary residence net of loans secured by that residence, shall not account for more than S$1 million (or its equivalent in a foreign currency) of the minimum amount; or
  • whose net financial assets (net of any related liabilities) exceed S$1 million (or its equivalent in a foreign currency); or
  • whose income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency); or
  • who holds a joint account with an AI, in respect of dealings through that joint account.

FOR CORPORATE INVESTORS

“ACCREDITED INVESTOR” (AI) means-

  • a corporation with net assets exceeding $10 million in value (or its equivalent in a foreign currency) 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; or
  • a corporation whose entire share capital is owned by one or more persons, all of whom are AIs, defined as a person:
    • whose net personal assets exceed a minimum amount of S$2 million (or its equivalent in a foreign currency); the estimated fair market value of an individual’s primary residence net of loans secured by that residence, shall not account for more than S$1 million (or its equivalent in a foreign currency) of the minimum amount; or
    • whose net financial assets (net of any related liabilities) exceed S$1 million (or its equivalent in a foreign currency); or
    • whose income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency); or
    • who holds a joint account with an AI, in respect of dealings through that joint account; or
  • an entity (other than a corporation), whose net assets exceed $10 million in value (or its equivalent in a foreign currency).