As for the verification of the net worth of the client the Act does not seem to provide any guidelines on this. In fact, the definition of a “Professional Investor” seems to put the onus on the investor stating that the person has a net worth exceeding $1,000,000 and must sign a declaration stating same and consenting to be treated as a professional investor. I think to be safe some reasonable proof should be provided which I would accept a letter from the financial advisor, accountant, bank and/or brokerage statements, etc. supporting the claim.
Where real estate is involved it seems it would require a lawyer or accountant to verify the equity in the property
Thanks Admin, you and your team have been awesome and fantastic. I have been a real pain for you and I aplogize for my behaviour from time to time. You guy's rocks. I'm the happy owner of the Mutual Fund with 50+ investors.
Believe me it is a complicated process to get a setup done in the Seychelles for Forex Trading...while me and a business partner were looking into it we gave up when it came to the fact of proving the USD 1 million to be there in assets. Maybe we failed the mission, however, it should have been easier to accomplish the task.