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Combatting Money Laundering & Terrorism Financing
We Commit To..
Taking Measures to Combat Money Laundering and Terrorism Financing Crimes
The UAE is committed to combatting illegal financial activities such as money laundering and financing of terrorism. The country’s policies and strategies detect and deter financial crimes on its soil, and prevent the use of its lands as a transit route or to transfer funds resulting from any criminal activity. The UAE also supports global efforts to counter money laundering and combat the
financing of terrorism, seeking to fully implement the standards of the Financial Action Task Force (FATF).
The Path to Combatting Financial Crimes Through the Years
Initiatives to Combat Money Laundering in the UAE
The UAE has taken major steps during the past years to set the legal framework and identify institutional paths for implementing the procedures and measures that would contribute to countering money laundering and combatting the financing of terrorism and illegal organisations.
What is Money Laundering?
Money laundering is defined as any financial or banking transaction aimed at concealing or changing the source of illegally obtained funds, by passing it through the financial and banking system in order to make it appear as originating from legitimate sources, and then re-pumping and investing it illegally.
Learn about..
The Risks of Money Laundering and Terrorism Financing
Economic recession
Increase in crime and corruption
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Threat to economic stability
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Weaken financial institutions
Organisational Chart for
Anti-Money Laundering Framework in the UAE
A paragraph is a self-contained unit of a discourse in writing dealing with a particular point or idea. Paragraphs are usually an expected part of formal writing, used to organize longer prose.
Legislation, Rules and Regulations
The Law
Executive Regulation
Decisions
- Cabinet Decision No. (16) of 2021 Regarding the Unified List of the Violations and Administrative Fines for the Said Violations of Measures to Combat Money Laundering and Terrorism Financing
- Cabinet Decision No. (58) of 2020 Regulating the Beneficial Owner Procedures
- Cabinet Resolution No. (74) of 2020 Regarding the Terrorist List System and The Implementation of Security Council Resolutions Related to Preventing and Suppressing Terrorism and Its financing, Counter of Proliferation and its financing, and the relevant resolutions
Guides
- Guidelines for Designated Non-Financial Businesses and Professions
- Supplemental Guidance for Auditors
- Supplemental Guidance for Dealers in Precious Metals and Stones
- Supplemental Guidance for the Real Estate Sector
- Supplemental Guidance for Trust and Company Service Providers
- Typologies on the circumvention of Targeted Sanctions against Terrorism and the Proliferation of Weapons of Mass Destruction
- Guidance on Targeted Financial Sanctions
Related Links
Authorities concerned with AML/CFT and Financing of illegal organizations in the UAE:
Regulatory Authorities:
- Ministry of Economy
- The Central Bank of the United Arab Emirates
- Securities and Commodities Authority
- Ministry of Justice
- Insurance Authority
- Dubai Financial Services Authority
- Financial Services Regulator Authority in Abu Dhabi Global Market
Financial Intellegent Unit (FIU)
Law Enforcement Agencies
- The Supreme Council for National Security
- Public Prosecution - Abu Dhabi
- Public Prosecution - Dubai
- Prosecution Office - Ras Al Khaimah
- Ministry of Interior
Ports (Manafth):
Other important websites:
Licensing Section Procedures
License Issuance
Required Documents :-
- License Form.
- Trade Name Certificate.
- Copy of Passport and Emirates ID.
- Certified No Objection Letter (Expatriate).
- Technical Evaluation Report (Commercial Control Section).
- Certified Copy of Lease Contract and Title Deed.
- Official Entities Approvals According to Commercial Activities.
- Service Agent Contract/ Civil Company Certified by Commercial Legal Affairs (Legal Status: Service Agent/ Civil Company).
- Approved Legal Contracts
- Certified copy of license, Copy of Memorandum of Association and meeting minutes for Branches from outside the Emirate.
- Notarization of Partnership Agreements- Memorandum of Association from Commercial Legal Affairs (Legal Status: Limited Liability Company/ General Partnership/ Public or Private Joint Stock Company)
- Certified Copy of Company's Policies (Joint Stock Companies).
- Agency Contract between Foreign Company and Certified Local Agent. (Legal Status: Local/ Gulf/ Foreign Branch with its Legal Translation).
- Sole Proprietorship companies with service agent system (approval from license owner to open a branch).
- Various companies (approval from license owner to open a branch).
Fees:-
License issuance: the collection rate is 8% for citizen and 13% for expatriate (from lease value)Record issuance: AED 500/ 1000/ 1200/ 1700/ 4000/ 5000/ 7000 (depending on legal status)
Printing: AED 300
Signboard: AED 200
Smart Services: AED 100
Representative ID: AED 300
Technical Evaluation: AED 150
Extra fees associated to other Departments will be charged.
License Renewal
Required Documents:-
- License Form.
- Approvals from official authorities if necessary and according to business.
- Certified copy of lease contract and title deed.
Fees:-
License renewal: the collection rate is 8% for citizen and 13% for expatriate (from lease value)Wearhouse renewal: the collection rate is 6% for citizen and 10% for expatriate (from lease value)
Register renewal: AED 500/ 1000/ 1200/ 1700/ 4000/ 5000/ 7000 (depending on legal status)
Printing: AED 300
Signboard: AED 200
Smart Service: AED 100
Representative ID: AED 300
Extra fees associated to other Departments will be charged.
Licenses Amendment
License Amendment is either a waiver or partner entry, changing the activity, or amending a trade name. Such a procedure is carried out into two stages or steps which are initial and final approvals.Required Documents:-
- License Form
- A copy of valid passport and ID for partners certified No objection Letter for non-citizens (in cases of adding new partners).
- Approvals from official authorities if necessary and according to business.
- Declaration from the public notary or Commercial Legal Affairs Section (waiver, partner entry, trade name amendment).
- Technical evaluation report if the amendment includes (changing site, adding activity, cancelling activity).
- Certified copy of lease contract and title deed.
- Sale of shares contract (waiver, entry of partner, removing partner, changing trade name, or changing activity).
- Legal contracts: service agent contact/ Business Company/ memorandum of association.
Fees:-
Register amendment: AED 500/ 1000/ 1500/ 2000 (depending on legal status)Printing: AED 300
Activity addition: AED 500 (for each activity)
Technical Evaluation: AED 150
Adding Partner/ Service Agent: AED 1000 (for each)
Removing Partner/ Service Agent: AED 1000 (for each)
Signboard: AED 200
Extra fees associated to other Departments will be charged.
Extra fees will be charged in case of waiver for certain activates (General Trade - Contracting – Engineering Consultancy - Real Estates and Properties).
Warehouse Permit Issuance
Issuance of warehouse permit for a licenses that is carried inside or outside the emirate.Required Documents:-
- License Form.
- Copy of the main company’s license.
- Letter from the main company to issue a warehouse permit in Sharjah in the case if the company is located outside the emirate.
- Partners’ passport and ID.
- Approvals from official authorities if necessary and according to business.
- Certified copy of lease contract and title deed.
Fees:-
Warehouse Permit Issuance: the collection rate is 6% for citizen and 10% for expatriate (from lease value)Register issuance: AED 500
Printing: AED 300
Signboard: AED 200
Representative ID: AED 300 (for licenses from outside the emirate only)
Technical Evaluation: AED 150
Extra fees associated to other Departments will be charged
Warehouse Permit Cancellation
Cancellation of warehouse permit that is related to a license carried inside or outside the emirate.Required Documents:-
- Licensing Form.
- Technical evaluation from Commercial Control Section
- Letter from company indicating warehouse cancellation request.
Fees:-
Printing: AED 300Warehouse Permit Cancellation: AED 500
Technical Evaluation: AED 150
Extra fees associated to other Departments will be charged
Trade Names Section Procedures
Trade Name Issuance
Required Documents:-
License FormCopy of valid passport, emirates ID for citizens or residency for expatriates.
Certified No Objection Letter for expatriates.
Permission for minors (under 21) to carry out business from the Legal Court.
Approvals from official authorities if necessary and according to business.
Presence of concerned ones or their legal representatives.
Fees:-
Trade Name Issuance: AED 250Translated Trade Name Issuance: AED 1250 (for Local and Foreign Companies Branches)
Foreign Trade Name Issuance: AED 2250 (for Local and Foreign Companies Branches)
Trade Name Renewal
Required Documents:-
- Expired Trade Name Certificate, if any
- Presence of concerned ones or their legal representatives.
Fees:-
Trade Name Renewal: AED 150Trade Name Issuance fees are applied after the expiry period
Trade Name Amendment
This refers to any amendment to be applied to the Trade Name or business activity, adding a business partner or service agent, withdrawal of a business partner, or amending the license type or the legal status.Required Documents:-
License Form.Copy of valid passport, emirates ID for citizens or residency for expatriates.
Certified No Objection Letter for expatriates in cases of adding partner.
Approvals from official authorities if necessary and according to business.
Presence of concerned ones or their legal representatives.
Fees:-
Trade Name Amendment: AED 100Fees are applied in case of changing Trade Name to a foreign or translated one.
Trade Name Cancellation
Required Documents:-
Trade Name Cancellation Form.Presence of concerned ones or their legal representatives.
Referring to Legal Affairs Department to ensure that no legal action exists on Trade Name.
Fees:-
Trade Name Cancellation: AED 100
A paragraph is a self-contained unit of a discourse in writing dealing with a particular point or idea. Paragraphs are usually an expected part of formal writing, used to organize longer prose.
A paragraph is a self-contained unit of a discourse in writing dealing with a particular point or idea. Paragraphs are usually an expected part of formal writing, used to organize longer prose.