Revised Anti-Money Laundering Legislation – Implications for Real Estate Brokers

On 26 September 2025, the Federal Assembly adopted a partial revision of the Swiss Anti-Money Laundering Act (AMLA). A referendum was not filed within the deadline of 15 January 2026. The revision expands the scope of anti-money laundering regulations and now also covers certain professional advisory activities, in particular those related to real estate transactions. This article outlines the circumstances under which real estate brokers will fall within the scope of the new regulation and the resulting need for action.

Advisory Activities Subject to Regulation

In addition to the financial intermediaries already covered, certain professionally provided advisory services will now fall within the scope of the AMLA. These include, in particular, the purchase and sale of real estate as well as legal transactions that are economically equivalent to a disposal, such as the transfer of participations in real estate companies.

However, not all advisory activities are covered. Exceptions apply to:

• transactions in family, matrimonial or inheritance matters, as well as gifts between related parties;

• transactions where the purchase price is below CHF 5 million and the payment is processed exclusively through banks or other financial intermediaries;

• the acquisition of owner-occupied residential property or real estate that qualifies in Switzerland as a tax-recognized replacement property.

Professional Activity

Only activities carried out on a professional basis are subject to the new regulation. Any independent economic activity carried out with the intention of generating income and relating to a transaction subject to the AMLA is considered professional. Private or one-off assistance does not fall within the scope of anti-money laundering law.

Even individual advisory engagements within a broader professional activity may be sufficient to trigger the obligation to comply. The current draft ordinance does not further define criteria such as the scope of activity, level of income or number of clients, meaning that the concept of professional activity is interpreted broadly.

Causal Link to the Real Estate Transaction

The regulatory obligation applies only where the advisory activity makes a necessary contribution to the execution of the transaction. The activity must therefore have a causal connection to the legal transaction, such that the real estate sale could not be carried out without the advisory service.

Purely preliminary planning assessments or general expert opinions without a link to a specific transaction are not covered. By contrast, any participation in the sale or purchase of real estate is subject to the regulation, including the drafting of contractual clauses or the structuring of the purchase agreement. Transactions related to foreclosure auctions are also covered, whereas advisory services concerning mortgages or easements, for example, do not fall within the new obligations.

Membership in a Self-Regulatory Organisation

Real estate brokers subject to the AMLA must join a self-regulatory organisation (SRO) recognised by the Swiss Financial Market Supervisory Authority (FINMA), which supervises compliance with anti-money laundering obligations. Membership should be obtained upon the entry into force of the new regulation or within two months of commencing an activity subject to the AMLA. The SRO is responsible in particular for monitoring the identification of contracting parties, the determination of beneficial owners and compliance with other due diligence obligations, which are specified in the respective SRO regulations.

The revised Anti-Money Laundering Act and the revised Anti-Money Laundering Ordinance are expected to enter into force in the second half of 2026. Real estate brokers who may be subject to the new regulation should therefore already assess which of their activities will be affected and prepare the necessary measures to ensure compliance with the new obligations.