UAE Tightens Grip on Financial Crime: What Relocating Businesses and Residents Need to Know
The United Arab Emirates is significantly bolstering its anti-money laundering (AML) and counter-terrorism financing (CFT) regulations, particularly impacting those involved in property transactions, precious metals and the rapidly growing virtual asset sector. Recent enforcement actions, including over AED 130 million in fines levied against designated non-financial businesses and professions (DNFBPs) since late 2022, signal a heightened commitment to compliance ahead of the next Financial Action Task Force (FATF) mutual evaluation later this year.
Increased Scrutiny of Key Sectors
Real estate brokers, precious-metals dealers, and virtual-asset service providers are facing increased scrutiny. Brokers are now required to conduct enhanced due diligence on politically exposed persons, individuals from high-risk jurisdictions, and entities with complex ownership structures. All suspicious transactions must be reported through the goAML portal.
Virtual-asset businesses, brought under the AML perimeter by legislation in October 2025, must appoint compliance officers, implement “travel-rule” data transfers, and rigorously screen clients against UN and UAE sanctions lists. Non-compliance carries significant risks, including license suspension or criminal liability.
Impact on Residency and Relocation
These stricter controls have direct implications for individuals and companies seeking UAE residency. Property purchases, a common route to residency, are now subject to more thorough vetting. Corporate service providers handling visa sponsorships for expatriates are also affected.
Delays in property transactions linked to Golden Visas, or account freezes impacting payroll and expense reimbursements for inbound assignees, are potential consequences of non-compliant service providers. Choosing relocation partners with robust AML frameworks is no longer a best practice – it’s a necessity.
Preparing for Increased Oversight
The Ministry of Economy has indicated that further guidance notes will be published in March, and companies should anticipate surprise audits. This proactive approach underscores the UAE’s dedication to maintaining its position as a safe and reliable global hub for trade and investment.
Multinationals are advised to schedule internal AML refreshers for UAE-based finance and HR staff to ensure end-to-end compliance within relocation workflows. Staying ahead of regulatory changes is crucial.
The FATF and UAE’s Progress
The Financial Action Task Force (FATF) announced in February 2024 that the UAE had completed all 15 recommendations of its action plan. This achievement reflects collaborative efforts across government entities and the private sector. The UAE remains steadfastly committed to enhancing its contributions to multilateral organizations and strengthening national and international cooperation in combating financial crime.
The Central Bank of the UAE (CBUAE) also plays a critical role in AML/CFT supervision, operating under UAE Federal Decree-Law and adhering to FATF Recommendations.
Pro Tip
FAQ
Q: What are DNFBPs?
A: Designated Non-Financial Businesses and Professions, including real estate brokers, precious-metals dealers, and virtual-asset service providers.
Q: What is the “travel rule”?
A: A requirement for virtual asset service providers to transfer originator and beneficiary information when conducting transactions.
Q: What is goAML?
A: The secure online portal for submitting suspicious transaction reports to the UAE’s Financial Intelligence Unit.
Q: What is the FATF?
A: The Financial Action Task Force, an intergovernmental organization founded in 1989 to combat money laundering and terrorism financing.
Q: What are the potential consequences of AML non-compliance?
A: Fines, license suspension, criminal liability, and delays in residency applications.
Did you know? The UAE successfully completed all 15 recommendations of its FATF action plan in February 2024, demonstrating a strong commitment to combating financial crime.
Stay informed about the evolving AML landscape in the UAE. Explore resources from the UAE Ministry of Economy and the FATF to ensure your business remains compliant.
Have questions or concerns about AML compliance in the UAE? Share your thoughts in the comments below!
