Subsection 1.1 of NI 45-106 defines an “eligible investor” as follows:

1. a person whose
   • net assets, alone or with a spouse, in the case of an individual, exceed $400,000,
   • net income before taxes exceeded $75,000 in each of the 2 most recent calendar years and who reasonably expects to exceed that income level in the current calendar year, or
   • net income before taxes, alone or with a spouse, in the case of an individual, exceeded $125,000 in each of the 2 most recent calendar years and who reasonably expects to exceed that income level in the current calendar year, (b) a person of which a majority of the voting securities are beneficially owned by eligible investors or a majority of the directors are eligible investors,
2. a person of which a majority of the voting securities are beneficially owned by eligible investors or a majority of the directors are eligible investors,
3. a general partnership of which all of the partners are eligible investors,
4. a limited partnership of which the majority of the general partners are eligible investors,
5. a trust or estate in which all of the beneficiaries or a majority of the trustees or executors are eligible investors,
6. an accredited investor,
7. a person described in section 2.5 [Family, friends and business associates], or

a person that has obtained advice regarding the suitability of the investment and, if the person is resident in a jurisdiction of Canada, that advice has been obtained from an eligibility adviser; 
Subsection 3.8 of the Companion Policy to National Instrument 45-106 Prospectus and Registration Exemptions provides clarification as to how individuals determine whether they meet the income or net asset requirements of an “eligible investor”