Last updated: 26 June 2019
| Category 1 | Category 2 | |
| Qualifications required | • At least an undergraduate degree in Finance/ Economics/ Accounting or related field • Previous experience in a relevant role | • An undergraduate degree and/or a relevant professional qualification • Previous experience in a relevant role |
| Business entities eligible | • Private limited companies • Public companies • Branch offices of foreign registered business entities • Limited liability partnerships | • Private limited companies • Public companies • Non-profit organisations • Branch offices of foreign registered business entities • Limited liability partnerships • Sole proprietorships • Societies • Associations |
| Securities permitted | All types of securities | All types of securities except equity, equity-like instruments and crowdinvestment vehicles |
| Maximum amount permitted per operation | No maximum | $150,000 |
| Investment advice on crowdfunding operations | Yes | No |
| Crowdinvestor Categorisation, Suitability Test and Risk Warning | CATEGORISATION Crowdinvestors must be categorised according to their level of experience and protected accordingly. The following categories are indicative: • First-time individual investors • Experienced individual investors • Institutional investors SUITABILITY TEST All potential crowdinvestors, except institutional investors, must undergo a Suitability Test, which is a series of questions that allows to determine the appropriateness of the offering for the crowdinvestor’s level of income, savings, financial education and investment experience. RISK WARNING in 4.1.3 Crowdinvestors must acknowledge and accept the risk warning. | SUITABILITY TEST All potential crowdinvestors, except institutional investors, must undergo a Suitability Test, which is a series of questions that allows to determine the appropriateness of the offering for the crowdinvestor’s level of income, savings, financial education and investment experience. RISK WARNING in 4.1.4 Crowdinvestors must acknowledge and accept the risk warning. |
| Crowdinvestor KYC | MINIMUM REQUIRED KYC • Proof of Identity required for all crowdinvestors (Valid ID, Passport) • Proof of address required for investment amounts above $1,500 (Recent Utility bill, Fixed line telephone bill, Bank statement, Tax return, OkHi address) ADDITIONAL KYC • National KYC requirements might apply – CIs must ensure they are compliant with local requirements • Additional KYC may be requested for significant investment amounts and for institutional investors. | MINIMUM REQUIRED KYC • Proof of Identity required for all crowdinvestors (Valid ID, Passport) • Proof of address required for investment amounts above $1,500 (Recent Utility bill, Fixed line telephone bill, Bank statement, Tax return, OkHi address) ADDITIONAL KYC • National KYC requirements might apply – CIs must ensure they are compliant with local requirements • Additional KYC may be requested for significant investment amounts and for institutional investors. |
