Q: If we have a Service License with the activity "Investment in Commercial Enterprises & Management", should we have AML/CFT policy and a compliance officer? A: It is non-regulated. Compliance officer is not needed. AML/CFT policy is not required. For the internal policies, you may draft the AML…

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The policy for a service license with Investment in Commercial Enterprises activity

If we have a Service License with the activity "Investment in Commercial Enterprises & Management", should we have AML/CFT policy and a compliance officer?

Rashid Saif Al Ali

Rashid Saif Advocates & Legal Consultancy

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12 Jul 2022, 12:16

Hello,

If it is non-regulated, then a compliance officer is not needed, and AML/CFT policy is not required.

However, for the internal policies, you may draft the AML/CFT.

12 Jul 2022, 12:17

Please call or e-mail us.

12 Jul 2022, 14:47

Thank you, Rashid!

And how can we learn if it is regulated for us? If it is obligatory for us?

13 Jul 2022, 06:01

You can understand from the license or if you are forming the company, the DIFC department for company formation will let you know.

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The policy for a service license with Investment in Commercial Enterprises activity