To conduct activities as a designated non-financial business and profession (DNFBP) from the Dubai International Financial Centre (DIFC), the entity must appropriately register with the Dubai Financial Services Authority (DFSA). Additionally, the entity must ensure that it complies with the relevant provisions of DIFC Law No. 1/2004 Regulatory Law and the Anti-Money Laundering, Counter-Terrorist Financing, and Sanctions Module (DIFC AML Rulebook) related to the registration of the DNFBP.

This Practice Note will discuss registration of a DNFBP within the DIFC and the process they should follow to register as a DNFBP in the DIFC.

• AML: Anti-money laundering.

• Authorised person: Authorised firm or an authorised market institution.

• Authorised firm: An authorised person who holds a licence to carry on one or more financial services in or from the DIFC and is not an authorised market institution.

• Authorised market institution: An authorised person operating an exchange, a clearing house or an alternative trading system.

• Beneficial owner: A beneficial owner includes the following:

  • In relation to a customer, means a natural person who ultimately owns or controls the customer or a natural person on whose behalf a transaction is conducted, or a business relationship is established.