By Andrii Zamovsky

updated over 2 years ago

Subsection 708(8) of the Corporations Act 2001 is found in Chapter 6D (Fundraising). It defines "sophisticated investor" so as to exclude them from certain disclosure requirements:

User needs to confirm Sophisticated Investor status to purchase security tokens.


To meet the criteria of a "Sophisticated Investor" an investor must have a qualified accountant issue a certificate stating that an individual meets the following: the investor has net assets of at least $2.5 million, or a gross income for each of the last 2 financial years of at least $250,000.

Document requirements

Certified letter from a qualified accountant attesting to either a or b, issued no more than 6 months before purchase.

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