Potential property buyers in the UAE need to tick another box before they make the investment – check whether their brokerage firm has all the ‘goAML’ certifications in hand.
If they don’t, property buyers may find their submissions made through that particular brokerage firm will not be accepted.
As per Dubai’s RERA (Real Estate Regulatory Authority) laws, all brokerage houses must possess the requisite goAML credentials.
As per Dubai’s RERA (Real Estate Regulatory Authority) laws, all brokerage houses must possess the requisite goAML credentials.
“Companies must aim at strengthening their goodwill and avoiding penalties by following the requirements," said Alexander Kukuev, managing partner at UPPERCASE Legal Advisory.
Alexander shared what businesses need to do within the framework of goAML.
UAE's AML regulations are strict and for businesses it is crucial to stick to all the requirements. The country is implementing a cutting-edge approach to anti money laundering regulations. Companies must aim at strengthening their goodwill and avoiding penalties by following the requirements.
Businesses should register on the GoAML website (goaml.ae/) and subscribe with the international and local authorities lists, such as the Executive Office for Control and Non-Proliferation (uaeiec.gov.ae/en-us/un-page).
UAE's AML regulations are strict and for businesses it is crucial to stick to all the requirements. The country is implementing a cutting-edge approach to anti money laundering regulations. Companies must aim at strengthening their goodwill and avoiding penalties by following the requirements.
Businesses should register on the GoAML website (goaml.ae/) and subscribe with the international and local authorities lists, such as the Executive Office for Control and Non-Proliferation (uaeiec.gov.ae/en-us/un-page).
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