The following definition was taken from “Guidelines on Exemption for Specialised Units Serving High Net Worth Individuals Under Section 100(2) of the Financial Advisers Act”
“high net worth individual” is an individual –
(a) who has a minimum of S$1 million of assets, or the equivalent in foreign currencies, in any or all of the following forms:
(i) bank deposits, including structured deposits;
(ii) capital markets products
(iii) life policies;
(iv) other investment products as may be prescribed by the Authority;
[Amended on 1 July 2005]
(b) whose total net personal assets exceed S$2 million in value or the equivalent in foreign currencies;
(c) whose annual income is not less than S$300,000 or the equivalent in foreign currencies; or
(d) who is assessed by the applicant to have the potential to become a person described in (a) within a period of 2 years.”
Do you qualify to be a high net worth individual? Or do you aspire to be one? High Net Worth Individuals can invest in financial instruments such as hedge funds which are out of reach of the public.
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{ 6 comments… read them below or add one }
In year 2008, I managed to have over S$1 million of investible assets and became a High Net Worth Individual.
By Nov 2010, I managed to have over S$2 million. Looking forward to achieving my first S$10 million in the next 5 years.
I’m sharing this not to boast, but with the hope that my sharing can Inspire and Encourage everyone out there.
Dennis Ng
In year 2008, I managed to have over S$1 million of investible assets and became a High Net Worth Individual.
By Nov 2010, I managed to have over S$2 million. Looking forward to achieving my first S$10 million in the next 5 years.
I’m sharing this not to boast, but with the hope that my sharing can Inspire and Encourage everyone out there.
Dennis Ng
hope to join you (dennis) in 3 yrs….
hope to join you (dennis) in 3 yrs….
Hi, can i know what is the different between high net worth individual and accredit investor??
Thank,
It is the same. A high net worth individual is an accredited investor.