31 March 2021, is the due date to register the DNFBP (designated non-financial businesses & professions) under the goAML in UAE

The Ministry of Economy (MoE) in UAE requires Designated Non-Financial Businesses  and Professions (DNFBPs) registered in the UAE to register in the system of Financial Intelligence Unit (goAML) 

The Ministry of Economy (MoE) in UAE also requires Designated Non-Financial Businesses  and Professions (DNFBPs) registered in the UAE to system of Committee for Commodities Subject to Import and Export Control (Automatic Reporting System for Sanctions Lists), and to adopt measures related to both, stipulated by the Federal Law No. 20 of 2018 on combating money laundering crimes and financing of terrorism and illegal organizations, and the regulations and relevant decisions regarding their implementation.

Designated Non-Financial Businesses  and Professions (DNFBPs) registered in the UAE are obliged to to adopt measures related to both the aforesaid systems (goAML and ARSSL) as stipulated by the Federal Law No. 20 of 2018 on combating money laundering crimes and financing of terrorism and illegal organizations, and the regulations and relevant decisions regarding their implementation.

The Ministry of Economy (MoE) has clarified in its circular that the registration in both these systems is free and can be done through simple steps by visiting the Ministry of Economy's official website. The grace period to the DNFBPs  to register in these two systems has been extended till March 31, 2021. Accordingly the registration for the DNFBs is obligatory to to avoid penalties stipulated by the law. 

Documents required to for the registration

• Authorization letter from the institution you represent ( form available for the download on the MOE  website).
• A copy of the passport, resident VISA, Emirates ID.
• A copy of the commercial trade license (for companies).
• Download the "Google Authenticator" application on the phone. (This application contains the password for the SACM protection system, which is a password that changes every minute)

​Gupta Accountants competent team of chartered accountants in Dubai, provides best supports at all the stages of the compliance with goAML (Anti-Money-Laundering System)  to the  Designated Non-Financial Business and Professions"(DNFBP) based & registered under free zones and on main land, established in the emirates of  Dubai, Abu Dhabi Sharjah, Umm Al Quwain, Ajman, Ras Al Khaimah and Fujairah.  ​​