Criteria for assigning qualified investor status: Bank of Russia proposals
The Bank of Russia has determined the conditions that investors should meet in order to be recognised as qualified. The criteria may be both independent and combined, which is an innovative approach for the Russian market.
For example, independent criteria might include having an academic degree. Specifically, a specialist degree in finance and credit, a master’s degree in finance and credit or in finance, as well as a Candidate of Economic Sciences or a Doctor of Economic Sciences degree in finance, cash circulation and credit or in finance will be taken into account.
Another independent criterion is related to the average income for the last two years, which should amount to no less than ₽20 million per year. It is proposed not to take into consideration money received from the sale of real estate. This will minimise the risks of a person being recognised as a qualified investor upon receiving a large one-off lump sum payment.
In addition, an individual can still obtain a qualified investor status by meeting the property-based criterion, i.e. having assets in the required amount. It currently equals ₽12 million but will be ₽24 million from 1 January 2026.
Moreover, individuals will be able to obtain the status of a qualified investor if they meet the combined criterion, which implies having both a specialist degree in economics, or economic theory, or mathematical methods and operational research in economics, or world economy or a master’s degree in economics as well as sufficient income, or assets, or experience of investing in the financial market. Individuals will also be able to comply with this combined criterion if they have a Candidate of Economic Sciences or a Doctor of Economic Sciences degree in political economy, or economic theory, or mathematical, statistical and instrumental methods in economics, or regional and industrial economics, or world economy.
It is proposed to reduce the income-based and property-based criteria to ₽6 million per year for the above combined criterion. In contrast, the independent property-based criterion will be increased to ₽12 million per year from 1 January 2026.