Certain investors may be eligible for a simplified verification procedure when completing an offer application form. This process reduces the amount of information and documents required.
Below is an outline of the criteria for each investor type and what information or evidence needs to be provided.
If the investor meets the criteria on the investor details step, they will not have to provide information on the Beneficial Owners step.
Trusts
A trust may qualify for simplified verification if it meets one of the following conditions:
Registered Managed Investment Scheme (MIS)
Provide the ARSN.
Unregistered Managed Investment Scheme
Must only have wholesale clients and must not make small-scale offerings (s.1012E Corporations Act 2001).
Provide evidence (e.g. legal opinion or certification).
Registered Charity (ACNC)
Provide charity name and ACNC registration number.
APRA-regulated Superannuation Fund
Provide RSE Registration Number.
✅ If “Yes” is answered to one of the above, and the relevant number or evidence is supplied, the trust qualifies for simplified verification.
Australian Companies
An Australian-registered company may qualify under either the Listed Entity/Parent Test or the Other Licence Test.
Listed Entity or Parent Test
Is the company listed on an Australian securities exchange?
Provide exchange name and exchange code/symbol.
OR is the company a majority-owned subsidiary of a listed company?
Provide parent company details, exchange, and proof of ownership.
✅ If listed or parent listed, the company qualifies.
Other Licence Test
Holds an Australian Financial Services Licence (AFSL)? → Provide AFSL number.
Regulated by APRA? → Provide APRA registration number.
Charity with an ACNC registration?
Licensed and regulated by another Commonwealth, State, or Territory regulator? → Provide details.
✅ If “Yes” to any, and licence details are provided, the company qualifies.
Foreign Companies
For companies not registered in Australia:
Is the company listed on a foreign stock exchange that has disclosure obligations comparable to Australia’s?
Provide exchange name and ticker code.
✅ If yes, and details are supplied, the company qualifies.
Government Bodies
The Government body investor type automatically skips beneficial owner checks, so long as evidence of status is provided.
To qualify, the entity must be:
A domestic (Australian) government body (Commonwealth, State, or Territory).
Provide evidence of status.
Required information for government bodies:
Name
ABN
Simplified verification declaration (above)
Registered address
Accountant’s certificate
Tax declaration (TFN optional – usually not applicable for government bodies)
Country of tax residency question
Financial institution status question
Bank account details (if applicable)
Payment options
✅ If confirmed as an Australian government body with evidence provided, the entity qualifies for simplified verification.
Key Notes
If an entity meets any one of the listed criteria for its investor type and provides the required registration number or evidence, it will be accepted under the simplified verification procedure.
If the investor meets the criteria on the investor details step, they will not have to provide information on the Beneficial Owners step.
If it does not meet the criteria, then the Beneficial Owners step will be shown to the applicant.
Government body investor types will never be required to provide beneficial ownership information.