Operating in ADGM - DNFBP obligations
Operating in ADGM? Your business may fall under DNFBP obligations - are you prepared?
Not all AML-regulated entities are financial institutions. In the Abu Dhabi Global Market (ADGM), several non-financial businesses are also brought within the AML/CFT regulatory perimeter.
This includes businesses engaged in:
- Real estate transactions involving the buying or selling of property
- Trading in precious metals and stones
- Dealing in high-value goods (USD 15,000 or more per transaction)
- Accounting, audit, insolvency, and tax advisory services
- Legal services, including law firms and notaries
- Company formation and corporate service activities
Being classified under this category means more than just a label—it brings with it clear compliance responsibilities such as customer due diligence, risk assessments, and reporting obligations.
Understanding your classification is the first step. Implementing a robust AML framework is the next.
If you're operating in ADGM and unsure about your regulatory status or obligations, it may be time for a closer review.
Contact us today at 055 689 0505 or [email protected]
