Revised Anti-Money Laundering Act: What Property Buyers Need to Know

What Changes with the AMLA Revision

On October 1, 2026, the revision of the Federal Act on Combating Money Laundering and Terrorist Financing (AMLA) came into force along with the new Transparency Act. For the Swiss real estate industry, this is the most far-reaching regulatory change in decades. With this, the Federal Council is pursuing two goals: implementing international recommendations from the Financial Action Task Force and closing previous gaps in non-financial professions.

A new category of so-called consultants has been created. This includes individuals who, professionally and for remuneration, participate in a defined real estate transaction and make a causal, indispensable contribution. What matters is not the job title, but the specific activity. This typically includes real estate agents with an active role in price negotiations, trustees, lawyers, notaries, M&A advisors, project developers, and tax advisors.

Which Transactions Are Covered

The new regulation refers to the purchase and sale of real estate as well as economically equivalent legal transactions. This includes, in particular, forced sales, the paid granting of building rights and usufructs, and the establishment or transfer of non-operating companies that hold real estate. Share deals, that is, the transfer of shares in real estate companies, are also explicitly covered.

However, the AMLA does not cover pure management, rental, and maintenance of properties. Private sales of one's own residential property without commercial advice are also excluded, as are agricultural transfers under the Federal Law on Rural Land Law as well as gifts and inheritances within the family.

The 5-Million Threshold and Its Exceptions

A threshold of 5 million Swiss francs applies to real estate transactions. Transactions above this value are subject to the full due diligence obligations of the participating consultants. Transactions below the threshold are only exempt if the entire purchase price flows through a Swiss or equally well-supervised financial intermediary. Both conditions must be met simultaneously.

Professional activity is also clearly defined. An activity is considered professional if gross annual earnings exceed 50,000 francs, more than twenty mandates are handled, more than 5 million francs in assets are managed, or a transaction volume of more than 2 million francs is reached. In addition, the previous 100,000-franc cash payment threshold for real estate dealers is abolished. Any cash payment now triggers due diligence requirements.

Which Duties Consultants Must Assume

Consultants who fall within the scope must complete a full client process before beginning substantive advice. This includes identifying the contracting party using official identification documents, determining the economically entitled persons involved in the transaction (Ultimate Beneficial Owner), and clarifying the purpose of the transaction and source of funds. All steps must be documented so that a knowledgeable third party can follow them.

Enhanced obligations apply in the case of increased risk: mandates without personal contact, politically exposed persons, complex company structures, links to high-risk countries, or an implausible source of funds trigger additional inquiries. If there is reasonable suspicion of money laundering or terrorist financing, a report must be made immediately to the Money Laundering Reporting Office at the Federal Office of Police. The affected party must not be informed.

Consultants must also join a self-regulatory organization recognized by FINMA. The specific standards for risk analysis, internal instructions, training, and control are regulated in practice by the respective SRO. Existing consultants have until December 1, 2026, to submit an application for admission. Anyone who does not belong to an SRO by then may no longer carry out regulated activities from that date.

What Buyers Can Specifically Expect

The process of a qualified real estate transaction will noticeably change for buyers and sellers. Already at first contact with an agent, notary, or lawyer, copies of ID, information on financing, and—if legal entities are involved—evidence regarding the beneficial owners will be required. Anyone hiding behind trust structures or holding companies must disclose who ultimately stands behind the transaction.

Further proof is often required for the source of funds. This includes the mortgage contract and loan commitment, confirmation of own funds from pension funds or pillar 3a, and possibly documents regarding gifts or anticipated inheritance. The more unusual the asset structure, the more extensive the review. Sellers should expect early on that the due diligence phase will be extended and signing may only take place after the KYC check is completed.

Particularities of Share Deals

In a share deal, it is not the property itself but a stake in a real estate company that is transferred. This approach has so far attracted little regulatory scrutiny and is considered a preferred vehicle for opaque structures. With the revision, share deals are treated the same as asset deals as soon as the company being transferred holds a majority of real estate assets.

The participating consultants must also check whether the company in question is operationally active or considered a shell company. For shell companies, further obligations according to the Transparency Act apply, in particular entry in the new register of beneficial owners. For sellers, this means: before a transaction, company structure, ownership relations, and beneficial owners must be documented and up to date.

Sanctions and Liability Risks

The new regulation imposes severe sanctions. Anyone who intentionally fails to file a suspicious activity report can be fined up to 500,000 francs. Negligent violations are subject to fines of up to 150,000 francs. In addition, regulatory measures by the SRO, reputational damage, as well as civil liability claims arising from any financial losses may also be faced.

Buyers and sellers should therefore ensure proper documentation of their source of funds and cooperate with advisors. Incomplete information delays completion, and obviously inconsistent statements can lead to reports to the authorities that may block the sale.

Checklist for Real Estate Transactions from October 2026

Anyone wishing to buy or sell a property in the coming months should prepare the following points early:

• Identification documents: Valid passport or ID card for all natural persons involved in the legal transaction. For married couples and buying cooperatives, for all parties involved.
• Beneficial owners: For legal entities, shareholder register and UBO declaration. For trusts or foundations, appropriate proof of beneficial ownership.
• Source of funds: Mortgage agreement, financing commitment, tax certificates, confirmation of early withdrawal from pension fund or pillar 3a, documents for gifts or inheritances.
• Transaction structure: For share deals, current articles of association, commercial register extracts, annual financial statements, and proof of beneficial ownership.
• Timeline: Allow an additional two to four weeks for the KYC check. Changing advisors shortly before signing significantly delays the transaction.

With the AMLA revision, the Swiss real estate market becomes more transparent and secure. For reputable buyers and sellers, the new obligations mainly mean more documentation and a bit more lead time. Those who know the requirements and prepare proactively will hardly lose any time compared to the previous process and will benefit from legally compliant processing.