The SEC defines an accredited investor as the following: A person with an annual income exceeding $200,000, or $300,000 for joint income, for the last two years with expectation of earning the same or higher income in the current year.
An accredited investor has a net worth exceeding $1 million, either individually or jointly with his spouse. The SEC also considers a person to be an accredited investor if they are a executive officer, general partner, director or a related combination thereof for the issuer of unregistered securities.