For the purposes of the CSF regime, your status as a "retail client" or "wholesale client" will determine how much you can invest in a CSF offer. The terms "retail client" and "wholesale client" are defined in the Corporations Act.
A "retail client" can invest up to (and including) AUD$10,000 per company per year.
A "wholesale client" can invest over AUD$10,000 (or any amount) in a company. To be eligible to invest as a "wholesale client", you will need to provide Birchal with evidence of your "wholesale client" status at the time of your investment application.
To evidence your "wholesale client" status, we typically require an accountant's certificate. The accountant's certificate must have been prepared within 6 months of the date of your investment application by a qualified accountant who can certify that you:
have net assets of at least AUD$2.5 million; or
have a gross income for each of the last 2 financial years of at least AUD$250,000.
Most accountants will be familiar with these certificates. A template is available for download here - you can provide this to to your accountant to assist them with preparation of the certificate.
For more information, please see here for ASIC's guidance on certificates issued by a qualified accountant here.
You will need to upload the accountant certificate with your investment application. You can learn about how to invest as a "wholesale client" here.
You can download a template account certificate via the link below.
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