Creative City provides more than just a Free Zone Community. We are a one-of-a-kind ecosystem that prioritizes customer satisfaction by delivering efficient formation solutions in UAE.
DNFBPs include a variety of non-financial businesses and professions that engage in activities or transactions that are susceptible to being exploited for money laundering purposes. Under the UAE law, DNFBPs encompass sectors such as:
Legal consultancy firms offer specialized legal advice to clients, helping them navigate corporate and financial matters. Although they do not directly manage financial transactions, their involvement in structuring deals, establishing companies, or advising on real estate transactions may expose them to money laundering risks. Under UAE AML laws, they must ensure that their services are not used to facilitate illegal activities.
According to the UAE Anti-Money Laundering Law (Federal Decree-Law No. 20 of 2018), DNFBPs are required to implement a range of compliance measures to prevent their businesses from being used for illicit activities. Key general requirements include:
By adhering to these requirements, DNFBPs in the UAE contribute significantly to the country's fight against money laundering and terrorist financing, safeguarding both their businesses and the wider financial system.
For more details and informations, please refer to the below links.
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