real estate developers

Real estate developers are subject to AML obligations if in any calendar year since 2007 they have sold to the public (without using a real estate brokerage): five or more new houses or condominium units; one or more new commercial or industrial buildings; one or more new multi-unit residential buildings each of which contains five or more residential units; or two or more new multi-unit residential buildings that together contain five or more residential units. New homes include those which have been substantially renovated, pre-fabricated homes sold by a housing manufacturer or retailer to consumers.

We can help develop right-sized AML programs to minimize manual regulatory burden, while maximizing detection of potentially suspicious transactions. The AML Shop's expertise in the Real Estate industry is robust with advisors who have helped to successfully shape and navigate this industry's AML compliance requirements. You take care of growing your business and we'll handle your AML compliance.