Developers and property traders

When the obligation applies

Buying or selling real estate as a business activity, including sales by developers.

Exceptions and important distinctions

A private sale of a personal apartment alone does not create this status.
Ownership, letting or management alone requires assessment of other categories and is not automatically buying or selling.
Read the category with section 2(3): the activity must form part of the business, subject to statutory exceptions for non-business legal entities, lawyer partners and the specified trust activity.

From first engagement to retention

Read this workflow with the scope and exceptions for this profession. Evidence of a measure follows its actual performance.

1. Before starting: verify scope

Record the actual service, parties and why it falls within the scope above. Assess exceptions for each measure, rather than applying them to the entire client relationship.

2. While providing the service: apply sector steps

Map seller, buyer and representatives.
Check price, purpose, beneficial owners and financing.
Reassess risk before accepting a change in the person financing the deal.

When the service, party or relevant circumstances change, revisit the affected step. This profession’s special regime takes precedence over a generic checklist.

3. Closure: document the outcome under the applicable regime

Contracts and identification of parties
Ownership structure
Financing documents and decisions

Determine which records to retain and under what legal basis. For a customer of an obliged entity this concerns cooperation, not taking over the provider’s duties.

§ 2 odst. 1 písm. d) bod 1; odst. 3

Prepare client information in the AML form →

Supervision and legal basis

FAÚ.

§ 2 odst. 1 písm. d) bod 1; odst. 3 ↗