Why this matters
Real estate brokers in the UAE are DNFBPs (Designated Non-Financial Businesses and Professions) under the AML law. We're legally required to KYC every buyer. No KYC = no transaction. Penalties for skipping are AED 5–50M.
Individual buyer — resident
| Document | Required for |
|---|---|
| Passport (full pages) | Identity |
| Emirates ID (front + back) | Identity & residency |
| UAE residence visa page | Residency proof |
| Recent utility bill / bank statement | Address proof |
| 6-month UAE bank statement | Source of funds |
| Salary certificate (if salaried) | Income source |
| Trade licence (if self-employed) | Business legitimacy |
Individual buyer — non-resident
| Document | Required for |
|---|---|
| Passport (full pages, valid 6+ months) | Identity |
| Visa to any country | Legal residency somewhere |
| Address proof (recent bill / bank) | Address |
| 6-month bank statement | Funds origin |
| Source-of-funds letter / proof | AML compliance |
| Foreign tax ID (where applicable) | International AML |
Source of funds — what counts
If your purchase exceeds AED 55,000 cash equivalent, the source must be documented: - Bank statement showing accumulation over time, or - Sale of business / asset (with deed/contract proof), or - Inheritance documentation (court order, will), or - Investment liquidation (broker statement)
Cryptocurrency funds are accepted but require blockchain proof + tax compliance documentation.
Company / SPV buyers
| Document | Required |
|---|---|
| Trade licence (current) | Legal status |
| Memorandum & Articles of Association | Governance |
| Shareholders register | Ownership chain |
| Beneficial owner declaration | Real owner ID |
| Last 2 years audited accounts | Financial standing |
| Source of funds (corporate) | AML |
| Authorisation letter from board | Authority to buy |
Politically Exposed Persons (PEPs)
If you or any beneficial owner is a current/former government official, judge, military officer, or close family member of one, declare it. Enhanced due diligence applies — slower process but not a no.
Sanctions screening
Every buyer is screened against UN, OFAC, EU, and UAE sanctions lists. Hits = transaction declined. False-positive name matches happen and are easily resolved with additional ID.
How long does KYC take?
For a clean profile: 24–48 hours. For PEPs or complex corporate structures: 5–10 days. We start KYC the moment you express serious interest, not after offer acceptance — saves a week.
Common reasons for delay
- Stale documents (passports near expiry, old utility bills)
- Bank statements not in your name
- Source of funds gap (bank shows AED 5M but no historical accumulation)
- Beneficial owner refuses to identify
- Incomplete corporate filings
Frequently asked
Yes, but the beneficial owner is identified internally to RERA / DLD even if the title shows only the company name. Privacy from the public yes; privacy from regulators no.
Transaction cannot proceed. We're legally required to verify and report suspicious funds; refusing to document is itself a red flag we must report under goAML.
Yes, with conditions: blockchain transaction history, exchange KYC compliance proof, and tax compliance in your home country. Some banks won't accept crypto-sourced AED — we'll route to crypto-friendly banks (Emirates NBD, Mashreq) where needed.
Muhammad Adnan founded Al Amman Properties in 2012 after a decade in Dubai's brokerage and property-management space. Under his leadership, Al Amman has closed 500+ sales transactions and built a 2,000-unit management bo…
