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Glossary termPublished inAMLR

Business relationship

What does "Business relationship" mean under the AMLR?

A business, professional or commercial relationship between an obliged entity and a customer which is connected with the professional activities of an obliged entity and which is expected, at the time when the contact is established, to have an element of duration, including a relationship where an obliged entity is asked to establish a company or set up a trust or a similar legal arrangement for its customer, whether or not the establishment of the company or setting up of the trust or similar legal arrangement is the only transaction carried out for that customer

Defined in / by

Last updated: 22 August 2026.

Regulations

  • Anti-Money Laundering Regulation (AMLR)

    The AMLR is Regulation (EU) 2024/1624. It applies from 10 July 2027 and is directly applicable, so from that date customer due diligence, beneficial ownership, reporting and internal controls come from EU law rather than national statute. Cash payments for goods and services are capped at €10,000. Football clubs and agents follow on 10 July 2029.

    Next
    AMLR applies (Art. 90) and the AMLD6 transposition deadline. References to Directive (EU) 2015/849 are construed as references to the AMLR and AMLD6, per the correlation table in Annex VI (Art. 89); the repeal itself sits in AMLD6

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