DNFBP stands for "Designated Non-Financial Business and Professions"(DNFBP). Certain types of "non-financial" businesses have been identified as being susceptible to money laundering and terrorist financing due to the nature of their business and the transactions with activity that they may conduct.
Certain class of business and professions, which currently are classified as Designated Non-Financial Business and Professions"(DNFBP) in UAE is as as follows;
1. Real Estate Firm that carries out transactions with customers involving the buying or selling of real property For example, real estate developers, brokers and agents.
2. Auditing, accounting or tax consultancy Firm that provide professional services and assurance to third parties on the financial and tax soundness of them and/or their business. For example, chartered accountants, accountants, tax specialists etc.
3. Dealer of precious metals or stones who are are involved in the production of precious metals or precious stones, an intermediate buyer or broker, precious stone cutter and polisher, precious metal refiners, and/or jewelry manufacturer who use precious metals and precious stones to retail sellers to the public or buyers and sellers in the secondary and scrap markets. These include gold, silver, platinum, diamonds etc. For example, jewelry stores.
4. Trust or Company Service Provider who is involved in providing business services and consulting to third parties.
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.
Ramesh Kumar Gupta is a young and dynamic Chartered Accountant and has 21 years of experience in assurance, accounting, audit and business management. He is a member of the Institute of Chartered Accountants of India (ICAI). He is the Managing Partner of Gupta Accountants an accounting and advisory firm in Dubai UAE