Do DNFBPs and VASPs need a licence or registration under the UAE AML law?
Yes. Federal Decree-Law No. 10 of 2025 prohibits any natural or legal person from carrying on financial activities, designated non-financial businesses and professions, or virtual asset service provider activities without first obtaining a licence, registration or enrolment from the competent authority or relevant supervisory authority.
Operating without the required authorisation is a criminal offence punishable by imprisonment and a fine of not less than AED 200,000 and not more than AED 10 million, or either penalty. For DNFBPs, registration also connects the business to the goAML system and to supervisory oversight. Entities in scope, including real estate agents, dealers in precious metals and stones, corporate service providers, auditors and VASPs, should confirm their registration status early, because unlicensed activity exposes both the business and its managers to enforcement.
Legal Reference (UAE):
· Federal Decree-Law No. 10 of 2025, Article 20 and Article 32 — require licensing or registration and penalise unlicensed activity
For more details, consult the full text of Federal Decree-Law No. 10 of 2025 or seek guidance from your AML compliance officer.