Wholesale Investor Eligibility Calculator NZ

This calculator checks whether you might qualify as a wholesale investor in New Zealand under the large or wealthy person tests in the Financial Markets Conduct Act. Most New Zealanders are retail investors, who receive the full protection of product disclosure statements and other safeguards when they invest. Wholesale investors, by contrast, can be offered certain investments without those protections, on the legal assumption that they are wealthy or sophisticated enough to assess the risks themselves. There are several ways to qualify, and two of the most common are based on wealth: holding net assets of at least one million dollars, or having earned gross annual income of at least two hundred thousand dollars in each of the last two years. You enter your net assets and your typical recent annual income, and the calculator tells you whether you appear to meet either threshold and which one. It is important to be clear about what this means and does not mean. Meeting a threshold does not make a wholesale investment a good idea; these offers carry fewer protections and are often riskier and harder to sell. This tool is general information only, gives an indicative result, and is not financial or legal advice. Always get independent professional advice before accepting wholesale status.

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Important: This is an indicative check of two wealth tests only, not legal or financial advice. Wholesale offers have fewer protections and can be higher risk. Other eligibility categories exist and require certification. Get independent professional advice before accepting wholesale investor status.
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Likely eligible via the net assets test
Net assets of $1m or more meet the large or wealthy person test. Certification is still required.

How it works

The calculator checks your net assets against the 1 million dollar threshold and your income against the 200,000 dollar threshold. Meeting either suggests you may qualify under the large or wealthy person category. Meeting neither means these particular tests are not met, though other routes to wholesale status exist.

Worked example

Net assets of 1.2 million dollars meet the 1 million dollar threshold, so you would likely qualify under the net assets test, even if income alone of 180,000 dollars falls just short of the 200,000 dollar income test.

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Frequently asked questions

What is a wholesale investor?

Under New Zealand's Financial Markets Conduct Act, a wholesale investor can access certain investments without the disclosure protections offered to retail investors, on the basis that they are wealthy or experienced enough to look after themselves.

What are the wealth tests?

One common route is the large or wealthy person test: net assets of at least 1 million dollars, or annual gross income of at least 200,000 dollars in each of the last two years. Other categories exist, including certification by a financial adviser, lawyer or accountant.

Does meeting the test mean I should invest?

No. Wholesale offers come with fewer protections and are often higher risk and less liquid. Eligibility is not advice. Get independent professional advice before accepting wholesale investor status or any wholesale offer.