An accredited investor is someone with a certain level of wealth or expertise that allows them to explore special investment opportunities most people can’t access —because they’re legally forbidden for the general public. Think of it as a backstage pass to private investments like startups, venture capital, and hedge funds.

To qualify, you usually need a net worth of over $1 million (not counting your home) or a yearly income of at least $200,000 for the past two years (in the US). Depending on where you live, the requirements and name may change a bit —like “sophisticated investor” in Australia and the UK, or “professional client” in the EU and Switzerland​.

The perks of being accredited? You get a chance to invest in…