> ## Knowledge Base Index
> Fetch the complete knowledge base index at: https://propelx.crisp.help/sitemap.xml
> Use this file to discover available pages before exploring further.
> Pure-Markdown content can be obtained by appending a '.md' suffix to the content URLs listed in the sitemap (without the trailing slash).

# Who qualifies as an "accredited investor"?

Under the SEC’s Rule 501, a person can qualify as an accredited investor either of two ways:

By having an individual net worth or joint net worth with a spouse exceeding $1 million at the time of the investment, excluding the value of a primary residence (and any related indebtedness); or
By having an individual annual income exceeding $200,000 in each of the two most recent years, or a joint annual income with a spouse exceeding $300,000 for those years, and a reasonable expectation of the same income level in the current year.
In addition, certain organizations/institutions qualify as accredited investors. A more complete definition is available on the SEC website [here.](https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-bulletins/updated-3)