Raisebook strives to provide quality investments for our users.
Under the Corporations Act, only s708 investors are able to invest in certain types of deals such as seed funding, pre-IPO, and placements of listed stocks, which are generally at a discount to market.
If you qualify as an s708 sophisticated investor, to ensure you get access to s708 only offers the moment they are live on our platform, please ensure you maintain a valid s708 certificate from your accountant uploaded on our platform.
Once we verify your certificate (generally this happens within a 24 hour period), you will be enable to access to all private “For s708 investors only” deals on the platform.
What is a Sophisticated Investor?
As laid out in Section 708 of the Corporations Act 2001, to satisfy the requirements for being classed as a Sophisticated Investor, you will have either:
- A gross income for each of the last two financial years of at least $250,000; or
- Net assets of at least $2.5 million.
Where Can I Get a s708 Certificate?
Your accountant is able to verify your Sophisticated Investor status and can issue your s708 certificate.
How to Upload Your s708 Certificate
To access private “s708 only” offers you must upload your s708 sophisticated investor certificate, just take the following steps:
- Create your Raisebook account
- Head to https://raisebook.com/settings/certificate
- There are two options to prove your Sophisticated Investor status:
- Select ‘I will upload my certificate now’, click ‘Choose File’, select your s708 certificate, and click ‘Upload’
- Select ‘Get my certificate from my Accountant’, complete the webform, including your accountant’s details, and click ‘Contact My Accountant’
- After uploading, your certificate will be validated by our team, generally this will take between 1 and 24 hours. If there are any problems we will let you know.
Once your certificate is validated you will be able to access private “s708 only” offers.
What Your s708 Certificate Needs to Include
- It must be dated - with the date the Accountant signed the form - not the date you became a s708. Certificates are valid for two years from the date on the certificate - you will receive reminder emails from Raisebook when it is about to expire.
- It must include your personal name and the name you invest under - you won't be able to invest in a s708 deal with an entity that doesn't appear on your certificate.
- If you list a company name, you need to be a director of the company
- If you list a trust, you must be the trustee of the company
- Include the name of the accounting firm
- Include your accountant's name
- Include what accreditation organisation your accountant belongs to
- Include your accountant's membership number
Failure to add these will delay, and possibly force us to reject, your certificate submission. It may be easier to send your accountant our form, and get them to fill it out.
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