Subject line: Thanks for applying to join my syndicate
Hi [first name],
Thanks for applying to join my syndicate!
It sounds like you might be a good fit from your note, so I'm happy to explore whether we can accept you.
You indicated that you are unsure whether you are classified as a wholesale investor or not. Unfortunately, I'm not able to share deals with non-wholesale investors at this time so I wanted to provide you with some info to help you determine whether you qualify.
The primary way most investors are classified as wholesale is via obtaining a certificate from a qualified accountant stating that you are considered a ‘sophisticated investor’ for the purposes of Chapter 6D under the Corporations Act 2001. A person is eligible to be the subject of a certificate if they have:
a gross income of $250,000 or more per annum in each of the previous two years or
net assets of at least $2.5 million (reg 6D.2.03 and reg 7.1.28). You can read more about how this is calculated, who can issue the certificate, and more on ASIC's website here (there's also a sample certificate at the bottom).
If you think you do meet this criteria, let me know and we can point you in the right direction of an accountant to sign off (if you need one).
Otherwise, I'm happy to keep in touch and if anything changes in regards to regulations in this area, we'll let you know!