In accordance with the provisions of the Standard Operating Procedure on Licensing, Monitoring and Supervising of Real Estate Agents for Anti-Money Laundering and Countering the Financing of Terrorism 2025 issued by the Department of Industry and the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Guidelines for Designated Non-Financial Businesses and Professions 2023 issued by the Royal Monetary Authority of Bhutan (RMA), the Department of Industry (DoI) of the Ministry of Industry, Commerce and Employment hereby notifies all Real Estate Agents operating in the country to strictly comply with the AML/CFT obligations prescribed under the aforementioned SOP and Guidelines.

In this regard, all Real Estate Agents must conduct proper customer due diligence, maintain proper records of all transactions and make records available to the competent authorities upon request, duly report any suspicious transactions related to money laundering and financing of terrorism to the Financial Intelligence Department of RMA, establish and implement appropriate internal policy controls to effectively prevent, detect, and mitigate risks associated with money laundering and financing of terrorism in real estate transactions, extend full cooperation to DoI and RMA during monitoring, inspection, and supervisory activities relating to AML/CFT compliance.

Failure to comply with the provisions of the aforementioned SOP and Guidelines shall result in regulatory actions, including suspension, invalidation and cancellation of business license and the imposition of fines and penalties in accordance with the applicable rules and regulations.

This notification is issued for strict compliance by all Real Estate Agents operating in the country.
For further clarification, AML/CFT policy documents are available on www.industry.gov.bt and contact DoI at 02-321733 during office hours.