Book traversal links for Article (3)
Article (3)
IA-BOD-RES 10/2019Anyone who is engaged in the following trade or business activities shall be considered a DNFBP:
- Brokers and real estate agents when they conclude operations for the benefit of their Customers with respect to the purchase and sale of real estate
- Dealers in precious metals and precious stones in carrying out any single monetary transaction or several transactions that appear to be interrelated or equal to more than AED 55,000.
- Lawyers, notaries, and other independent legal professionals and independent accountants, when preparing, conducting or executing financial transactions for their Customers in respect of the following activities:
- Purchase and sale of real estate.
- Management of funds owned by the Customer.
- Management of bank accounts, saving accounts or securities accounts.
- Organising contributions for the establishment, operation or management of companies.
- Creating, operating or managing legal persons or Legal Arrangements.
- Selling and buying commercial entities.
- Purchase and sale of real estate.
- Providers of corporate services and trusts upon performing or executing a transaction on the behalf of their Customers in respect of the following activities:
- Acting as an agent in the creation or establishment of legal persons;
- Working as or equipping another person to serve as director or secretary of a company, as a partner or in a similar position in a legal person.
- Providing a registered office, work address, residence, correspondence address or administrative address of a legal person or Legal Arrangement.
- Performing work or equipping another person to act as a trustee for a direct Trust or to perform a similar function in favour of another form of Legal Arrangement.
- Working or equipping another person to act as a nominal shareholder in favour of another person.
- Acting as an agent in the creation or establishment of legal persons;
- Other professions and activities which shall be determined by a decision of the Minister