Anyone can buy the Notes issued by goPeer, but there are limits depending on whether they are an accredited, eligible, or non-eligible investor.
Limits on the amounts you can invest:
- For non-eligible investors:
- The purchase price for all securities purchased under the exemption in the 12 months before the purchase cannot be more than $10,000
- For eligible investors:
- The purchase price for all securities purchased under the exemption in the 12 months before the purchase cannot be more than $30,000.
- For investors who receive advice from a portfolio manager, investment dealer or exempt market dealer that an investment above $30,000 is suitable, the price for all the securities purchased by the investor under the exemption in the 12 months before the purchase cannot be more than $100,000.
- For accredited investors:
- There are no limits on how much accredited investors can invest.
By default, all investors on goPeer are considered non-eligible investors.
To qualify as an eligible investor, you must meet one of the following criteria:
- Net income before tax exceeding $75,000 in the previous two calendar years, with an expectation to exceed that level in the current year.
- Net income, alone or with a spouse, exceeding $125,000 in the previous two calendar years, with an expectation to exceed that level in the current year.
- Net assets, alone or with a spouse, exceeding $400,000.
To qualify as an accredited investor, you must meet one of the following criteria:
- Net income before taxes of more than $200,000 in each of the two most recent calendar years and expected net income of more than $200,000 in the current calendar year.
- Net income before taxes combined with a spouse of more than $300,000 in each of the two most recent calendar years and expected combined net income of more than $300,000 in the current calendar year.
- Financial assets, alone or with a spouse, of at least $1 million before taxes but net of related liabilities. Financial assets include cash and bank deposits but not the value of a house.
- Net assets, alone or with a spouse of at least $5 million. Net assets generally include all of your assets after subtracting your debt.
If you qualify under the income criteria, we usually require your CRA notice of assessment for the last 2 years. Otherwise, if you qualify under the assets criteria, we usually require a letter or PDF statement from your financial institution, accountant, or lawyer. We can also accept other documents that evidence one of the above criteria is met.
Please contact us at invest@gopeer.ca if you wish to have your account upgraded from "non-eligible" to either "eligible" or "accredited".