It is not the job title but the specific role within the individual business that triggers these new obligations. Following the amendment to the Money Laundering Act and its implementing regulations, certain advisory services relating to property transactions have been subject to due diligence and reporting obligations since 1 October 2026. At the same time, the mere letting of property or its routine management are not automatically covered in their own right.
In practice, this means that estate agents, trustees and other parties involved must keep each activity clearly separate. Under federal law, anyone who manages client funds is primarily subject to the rules governing financial intermediaries. Anyone providing professional advice on a transaction must check whether that specific advice falls under the Anti-Money Laundering Act (AMLA). And anyone accepting cash in a property transaction must comply with the rules for dealers. A blanket classification of the entire business is therefore no longer sufficient.
The specific mandate is decisive
The distinction becomes particularly delicate in the context of sales. The amended Anti-Money Laundering Act (GwG) requires, in the case of advisory services deemed to be subject to the Act, the identification of the client, the determination of the beneficial owner and comprehensible documentation of the purpose and subject matter of the transaction. In the case of companies, it is therefore not sufficient merely to know the sender of a document. What is relevant is the power of representation, beneficial ownership and the question of who actually placed the order. Documents must be retained for at least ten years after the conclusion of the transaction or the business relationship.
Exceptions do not provide a blanket exemption
There are important exceptions for property transactions. According to the law, these include transactions under 5 million Swiss francs where the price is paid exclusively via banks or other financial intermediaries subject to the AMLA. Residential properties for owner-occupation or replacement properties in Switzerland may also be exempt, subject to the statutory conditions. However, the industry association SVIT emphasises that these exemptions must be documented and do not preclude separate registration as a financial intermediary.
Deadlines put the sector under pressure
Advisers who were already carrying out the relevant activity on 1 October 2026 must submit their application to join a self-regulatory organisation by 1 December 2026. Until a decision is made, they may only continue the activity within the framework of existing business relationships. For new entrants, the due diligence obligations apply immediately, whilst affiliation or the required notification must take place within two months of the change in status. This implementation does not apply unchanged to public notaries, as the cantons still need to amend their legal frameworks.
Ticino retains a second level of regulation
In Ticino, there is an additional cantonal peculiarity. Under cantonal law, professional activity as a trustee for third parties remains subject to authorisation there. This cantonal authorisation does not replace the federal AMLA obligations. Conversely, OAD membership does not replace the cantonal requirements either. It is precisely at this interface that ViverTI is seeking to develop a growing range of compliance services for the organisation and documentation of such cases. The company describes the service as providing support with triage, document coordination and deadline management, but emphasises that legal responsibility remains with the relevant professionals.
