The platform is open only to accredited and institutional investors as defined in the Securities and Futures Act (Chapter 289) of Singapore.
Accredited investors are:
- An individual —
(a) whose net personal assets exceed in value S$2 million (or its equivalent in a foreign currency);
(b) whose financial assets (net of any related liabilities) exceed in value S$1 million (or its equivalent in a foreign currency) where “financial asset” means —
(i) a deposit as defined in section 4B of the Banking Act;
(ii) an investment product as defined in section 2(1) of the Financial Advisers Act; or
(iii) any other asset as may be prescribed by regulations made under section 341; or
(c) whose income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency).
- A corporation with net assets exceeding S$10 million in value (or its equivalent in a foreign currency) as determined by the most recent audited balance-sheet or certified balance-sheet within the preceding 12 months.
- Any trustee of a trust all the beneficiaries of which are accredited investors.
- Any trustee of a trust all the settlors of which:
(i) are accredited investors;
(ii) have reserved to themselves all powers of investment and asset management functions under the trust; and
(iii) have reserved to themselves the power to revoke the trust.
- Any trustee of a trust the subject matter of which exceeds S$10 million (or its equivalent in a foreign currency) in value.
- An entity (other than a corporation) with net assets exceeding S$10 million (or its equivalent in a foreign currency) in value.
- A partnership (other than a limited liability partnership) in which every partner is an accredited investor.
- A corporation the entire share capital of which is owned by one or more persons, all of whom are accredited investors.
- a person who holds a joint account with an accredited investor, in respect of dealings through that joint account.