In order to qualify for accreditation as an individual or an entity, an investor must meet at least one of the following criteria:
1) Earn an individual income of more than $200,000 per year, or a joint spousal income of more than $300,000 per year, in each of the last two years, and expect to maintain the same level of income.
2) Have a net worth exceeding $1 million, either individually or jointly with his or her spouse (excluding a primary residence).
3) Be an organization described in section 501(c)(3) of the Internal Revenue Code, corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000.
4) Be a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii).
5) Be an entity in which all of the equity owners are accredited investors.
For more information, please see: http://www.sec.gov/answers/accred.htm