Do jewellery businesses in the UAE need to register on goAML?
A jewellery business generally needs to register on goAML if it deals in precious metals or stones and carries out cash transactions of AED 55,000 or more, because that brings it within the dealer in precious metals and stones category of DNFBP. Registration on the goAML portal of the UAE Financial Intelligence Unit is the gateway to meeting the reporting obligations that follow.
Once registered, a jeweller can file the threshold-based DPMSR for qualifying high-value dealings and file suspicious transaction reports where grounds for suspicion arise. A jeweller whose business is limited to small retail sales below the threshold may fall outside the definition, but it should assess its own activity carefully, since linked transactions are aggregated and risk can arise below the threshold. Failing to register when required is itself a breach that can attract administrative penalties.
Legal Reference (UAE):
· Cabinet Resolution No. 134 of 2025 (Executive Regulations), Article 3(3) brings dealers in precious metals and stones into scope at AED 55,000.
· Federal Decree-Law No. 10 of 2025, Article 18 requires reporting to the Financial Intelligence Unit through its electronic system.
For more details, consult the goAML registration guidance or seek guidance from your AML compliance officer.
AML Policy Drafting for Dealers in Precious Metals and Stones (DPMS)