Which of the following is NOT a requirement for a non-MIFID company to qualify as a per se professional client?

To qualify as a per se professional client, a non-MIFID company must meet specific criteria regarding its financial status. The requirements typically include metrics related to its balance sheet size, employee count, and annual turnover.

Having a balance sheet of at least 12.5 million EUR, an average of 300 employees, and a turnover of at least 25 million EUR are all established financial thresholds that indicate a level of operational scale and financial sophistication. These criteria help ensure that the entity has the necessary resources and experience to understand the risks associated with the types of investment activities that a professional client might engage in.

On the other hand, having a representative office in the UK is not a requirement for a non-MIFID company to qualify as a per se professional client. The focus of the qualification process is more on the company's financial standing and operational scale rather than its geographical presence or specific office locations. Therefore, this criterion does not align with the foundational requirements set for per se professional client status.