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Qualified investor status: what it unlocks and what it costs

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Qualified investor status: what it unlocks and what it costs — Taxes and the Russian IIA
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A qualified investor is a status that lifts restrictions on buying certain instruments. It does not certify any demonstrated skill at investing; it certifies meeting formal criteria.

Why it exists

Without it, several categories of security are out of reach: some structured products, certain foreign instruments, a range of closed-end funds and over-the-counter assets.

How it is obtained

There are several routes and meeting one is enough.

An asset test — RUB 24m. With a relevant degree or a passed exam the bar is half as high.

Work experience at an organisation dealing in securities. Trading turnover over preceding quarters. A relevant degree or a professional certificate.

What the status does not give

It protects nothing and guarantees nothing. Quite the opposite: it removes the protection the regulator set by default and shifts responsibility onto the investor.

Instruments restricted to qualified investors are complex not in name but in construction: they carry asymmetric risk, limited liquidity, or dependence on events that are hard to assess.

Is it worth pursuing

Only if there is a specific instrument you need it for and you understand how that instrument works. Obtaining the status "for the future" means unlocking access to things you have not yet figured out.

Related: Structured products: where the risk is hidden and Restrictions and infrastructure risk: how it differs from market risk.

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