An accredited investor is someone who meets requirements regarding income and net worth, set forth by the Securities and Exchange Commission (SEC) regulations. This is so that the SEC can ensure proper protection for all investors.
To be an accredited investor, you must satisfy at least one of the following:
1. Earned annual income of $200,000 (or $300,000 together with a spouse), in each of the prior two years, and reasonably expects the same for the current year, OR
2. Has a net worth over $1 million, either alone or together with a spouse (excluding the value of your primary residence).
More information here.