Guide to Completing Proof of Wealth for Binance FZE Qualification Status

Qualified Investor Criteria & Proof of Wealth

1. How can a retail investor become a qualified investor?

A retail investor can become a qualified investor if they meet the criteria imposed by VARA and set in the onboarding process.

2. What are the criteria to become a qualified investor?

To become a qualified investor, you must provide Proof of Wealth that meets one of the following criteria:

• A yearly salary of at least 700,000 AED (equivalent to a monthly salary of 58,333 AED), or
• A total net asset value of at least 3,500,000 AED.

3. How recent do the documents for Proof of Wealth need to be?

The documents you provide for Proof of Wealth must be recent to ensure accuracy and reflect your current financial status:

• Financial Instruments (e.g., bank statements, investment account statements, portfolio statements)
  • Must be within the last 3 months from the date of submission.
• Tangible real estate property
  • Title Deed must be the original document issued at the time of property purchase.
  • If the property is mortgaged, the Mortgage Statement issued by the lending financial institution must be within the last 3 months.
• Virtual assets (e.g., exchange account statements, wallet balances)
  • Due to the volatile nature of virtual assets, the proof must be issued within 24 hours of submission and the assets will be valued at 50% of their current market value.

This ensures that the evidence reflects your current financial situation and complies with regulatory requirements.

Product Offerings and Access

1. Are there any restrictions on what retail investors can invest in?

2. Can qualified investors access retail investment products as well?

There is no separate category for retail investment products. Qualified investors have access to all available products on the platform, including advanced trading products like Futures, Options, and Margin (without leverage limits).

Beyond these advanced products, all other products including Margin (5x leverage limit), on the platform are accessible to all users, regardless of their investor status. So, whether you're a retail or qualified investor, you can invest in the same non-advanced products available to everyone.

1. How to apply to be a qualified investor?

If you're eligible and would like to become a qualified investor, you can apply during your onboarding process by opting in and providing the required Proof of Wealth. Alternatively, you can go to [Identification] at any time to upgrade your account.

1. During the advanced trading products question, choose [Yes, I’m eligible] and click [Continue].

2. Select the criteria you’d like to use to upgrade (annual income or net asset holding) and upload the relevant supporting documents, then submit your application.

If you have any questions or enquiries, please contact customer support.

2. What documents do I need to provide for Proof of Wealth?

To become a qualified investor, you must provide evidence of your net assets or annual income.

Proof of Net Assets

You can provide any or a combination of the following:

• Financial Instruments (e.g., stocks, bonds, mutual funds, ETFs, money market funds, cash in bank):
  • Bank statements;
  • Investment account statements;
  • Portfolio statements;
  • Bank reference letters (signed and stamped) stating your account balances;
  • Other official bank-issued documents (e.g., fixed deposit confirmations, guarantee certificate purchase, etc.).
• Tangible real estate property (minus debt obligations):
  • Title Deed;
  • Mortgage statements.
• Virtual assets (50% of current market value):
  • Exchange account statements;
  • Brokerage/Portfolio statements;
  • Cold/Custodian wallet balances;
  • Blockchain explorer records.

The following assets will not be included in your net asset calculation:

• Value of your primary residence (net of any mortgage or debt obligations);
• Rights under qualifying insurance contracts;
• Pension or retirement benefits or any benefits payable upon termination, death, or retirement.

Proof of Annual Income

To demonstrate an annual salary of at least 700,000 AED, you can provide one of the following document:

• Last 3 months’ bank statements showing a monthly salary deposit of at least 58,333.33 AED.
• An official salary certificate signed and stamped by your employer.

Once you submit the required documents for verification, you’ll be assessed for qualified investor status.

3. How long does it take to verify my status as a qualified investor?

The verification process typically takes around 3 business days. If you haven't received an update on your status after 3 days, please contact customer support.

4. What happens if I do not meet the criteria for a qualified investor?

If you do not meet the criteria for a qualified investor, you will still have full access to Binance FZE, with the exception of advanced trading options like Futures and Options. However, you will not be approved for an upgrade to a qualified investor and will remain classified as a retail investor. You will still be able to invest in all available products for retail users.

5. Can I appeal a decision after being rejected for qualified investor status?

If you are unhappy with the decision, please contact customer support. They will assist you with any questions or concerns you may have regarding your application.