In the case where an investment such as a private REIT or startup is only available to accredited investors, how much disclosure (what documents) would typically need to be produced to satisfy the firm? (Assuming it is net liquid assets rather than income that will be used to meet the criteria).
1 Answer
Usually a short statement from your accountant, financial adviser, or attorney is all that is needed. It should state that you meet the requirements, and how you meet them. They can be specific and say you have accounts in excess of X or income in excess of Y - whatever is required in Canada. It does not need to be a statement about your total net worth, simply that they know you meet the requirements. Bonus points if if comes on the accountant/adviser/attorney letterhead.
Background: I work for a company that can only take Accredited Investors in the United States.