Real estate can be used in complex ownership and financing structures, which is why the 2026 AMLA revision focuses on certain professional services around property transactions. This article explains which roles, financial steps and records deserve particular attention.
Why real estate is a focus
Properties can absorb substantial value, be held through companies and be financed from multiple sources. The reform therefore looks not only at the asset but at professional participation in transactions and their financial implementation.
The assessment should cover the whole process: who instructs the adviser, who makes decisions, who funds the price, which accounts are used, who is registered as owner and who ultimately controls the purchaser.
Roles that require review
| Role | Potential relevance |
|---|---|
| Advice | Structuring the acquisition, financing or ownership |
| Documents | Drafting or coordinating agreements and completion documents |
| Payments | Receiving, forwarding or controlling purchase-price components |
| Trust or representation | Acting for undisclosed or represented persons |
| Company formation | Creating an acquisition or holding company |
| Domicile or administration | Providing address, officers or administration for the purchaser structure |
Simple introductions may be assessed differently from end-to-end transaction support. The engagement letter and the actual acts performed should match.
Reviewing a specific property transaction
- Identify all contracting parties, representatives and involved entities.
- Determine beneficial owners and the control chain.
- Record purchase price, financing, equity and payment routes.
- Describe the business’s role in the contract and completion.
- Test professional scale and any exemptions.
- Investigate unusual elements and inconsistencies.
Warning signs can include recently inserted companies, payments by unrelated third parties, complex loan chains, unexplained price deviations and structures with no obvious economic purpose.
Share deal example
Instead of the property, shares in a company whose principal asset is the property are sold. The legal form does not remove the economic real-estate connection. The structure and the adviser’s role must be analysed.
Contracting party and beneficial ownership
The purchaser named in the contract may not be the person who economically controls the acquisition. Participation chains, voting rights, trust arrangements and financing commitments therefore need to be traced to natural persons.
Information should be tested for consistency across registers, organisational charts, agreements, financing documents and payment instructions. Deviations require an explanation and, where necessary, further evidence.
Risk assessment and sanctions screening
Risk is not determined by property value alone. Residence and origin countries, political exposure, complex structures, unusual financing, cash proximity and time pressure can all affect the rating.
- Screen applicable sanctions and relevant person lists.
- Identify politically exposed persons and close associates.
- Clarify source of funds and wealth for higher-risk cases.
- Document the economic purpose and appropriateness of the structure.
- Require senior or second-person approval for high-risk cases.
Checks should be completed before the decisive execution step. Completing the file after signing or payment undermines the preventive purpose.
Contents of the real-estate file
- Engagement and description of roles.
- Identification documents for parties and representatives.
- Beneficial ownership and control structure.
- Sale agreement, land-register and company documents.
- Financing and payment evidence.
- Risk rating, screening and enhanced checks.
- Approvals, escalations and subsequent updates.
A standard file structure makes independent review possible and shows what was checked, when and by whom.
When specialist review is advisable
Individual legal or professional review is particularly important where roles overlap, the acquisition is made through a company, funds originate from several jurisdictions, trust arrangements exist or an exemption is relied upon.
The non-binding transaction check provides an initial indication but does not replace detailed analysis of complex structures.
Frequently asked questions
Is every property purchase subject to the AMLA from October 2026?
No. The reform does not make every purchase subject; it covers defined professional services and participation.
Can an indirect purchase be relevant?
Yes. A share deal involving a property-holding company may remain relevant depending on the facts.
Must a broker check source of funds?
That depends on the broker’s actual role and whether the AMLA applies. Pure brokerage and active financial participation are not the same.
When must due diligence be completed?
In principle before the covered service or decisive completion step is performed.