Mandatory requirements on payments to United Arab Emirates (UAE)

Transcription

1 Mandatory requirements on payments to United Arab Emirates (UAE) As per decision of the Central Bank of the United Arab Emirates, the use of a 3-letter purpose code is mandatory for all payments to the United Arab Emirates, in AED or in any other currency. This code must be placed in the first line of the Details of Payment field. The information related to the purpose code must be formatted as shown in the example below: /BENEFRES/AE//GDI/INVOICE 4567 (GDI being the purpose code for payment of Goods bought ) If the purpose code is not provided in the payment instruction, the receiving bank will ask for it, which might cause a delay in the payment. Below you find a list of valid purpose codes to be used. Code Description ACM Agency Commissions AES Advance payment against EOS AFA Receipts or payments from personal residents bank account or deposits abroad AFL Receipts or payments from personal non-resident bank account in the UAE ALW Allowance ATS Air transport BON Bonus CCP Corporate Card Payments CEA Equity and investment fund shares for the establishment of new company from residents abroad, equity of merger or acquisition of companies abroad from residents and participation to capital increase of related companies abroad CEL Equity and investment fund shares for the establishment of new company in the UAE from non-residents, equity of merger or acquisition of companies in the UAE from non-residents and participation to capital increase of related companies from non-residents in the UAE CHC Charitable Contributions (Charity and Aid) CIN Commercial Investments COM Commission COP Compensation CRP Credit Card Payment DCP Debit Card Payments DIV Dividend Payouts From FI DLA Purchases and sales of foreign debt securities in not related companies - More than a year DLF Debt instruments intragroup loans, deposits foreign (above 10% share) DLL Purchases and sales of securities issued by residents in not related companies - More than a year

2 DOE Dividends on equity not intragroup DSA Purchases and sales of foreign debt securities in not related companies - Less than a year DSF Debt instruments intragroup foreign securities DSL Purchases and sales of securities issued by residents in not related companies - Less than a year EDU Educational Support EMI Equated Monthly Instalments EOS End of Service / Final Settlement FAM Family Support (Workers' remittances) FDA Financial derivatives foreign FDL Financial derivatives in the UAE FIA Investment fund shares foreign FIL Investment fund shares in the UAE FIS Financial services FSA Equity other than investment fund shares in not related companies abroad FSL Equity other than investment fund shares in not related companies in the UAE GDE Goods sold (Exports in fob value) GDI Goods bought (Imports in cif value) GMS Processing repair and maintenance services on goods GOS Government goods and services embassies etc GRI Government related income taxes, tariffs, capital transfers, etc. IFS Information services IGD Dividends intragroup IGT INTER GROUP TRANSFER IID Interest on debt intragroup INS Insurance services IOD Income on deposits IOL Income on loans IPC Charges for the use of intellectual property royalties IPO IPO Subscriptions IRP INTEREST RATE SWAP PAYMENTS IRW INTERST RATE UNWIND PAYMENTS ISH Income on investment funds shares ISL Interest on securities more than a year ISS Interest on securities less than a year ITS Computer services LAS Leave Salary LDL Debt instruments intragroup loans, deposits in the UAE (above 10% share) LDS Debt instruments intragroup securities in the UAE LEA Leasing abroad LEL Leasing in the UAE LIP Loan Interest Payments LLA Loans - Drawings or Repayments on loans extended to non-residents - Long-term LLL Loans - Drawings or Repayments on foreign loans extended to residents - Longterm LNC Loan Charges LND Loan Disbursements From FI

3 MCR MWI MWO MWP OAT OTS OVT PEN PIN PIP PMS POR POS PPA PPL PRP PRR PRS PRW RDA RDL RDS REA REL RFS RLS RNT SAA SAL SCO SLA SLL STR STS SVI SVO SVP TCP TCR TCS TKT TOF TTS UFP UTL Monetary Claim Reimbursements MOBILE WALLET CARD CASH-IN MOBILE WALLET CARD CASH-OUT MOBILE WALLET CARD PAYMENTS OWN ACCOUNT TRNSFER Other modes of transport (including Postal and courier services) Overtime Pension Personal Investments Profits on Islamic products Professional and management consulting services Refunds/Reversals on IPO subscriptions POS Merchant Settlement Purchase of real estate abroad from residents Purchase of real estate in the UAE from non-residents PROFIT RATE SWAP PAYMENTS Profits or rents on real estate Personal, cultural, audio-visual and recreational services PROFIT RATE UNWIND PAYMENTS Reverse debt instruments abroad Reverse debt instruments in the UAE Research and development services Reverse equity share abroad Reverse equity share in the UAE Repos on foreign securities Repos on securities issued by residents Rent Payments Salary Advance Salary (Compensation of employees) Construction Loans - Drawings or Repayments on loans extended to nonresidents - Short-term Loans - Drawings or Repayments on foreign loans extended to residents - Shortterm Travel Sea transport STORED VALUE CARD CASH-IN STORED VALUE CARD CASH-OUT STORED VALUE CARD PAYMENTS Trade credits and advances payable Trade credits and advances receivable Telecommunication services Tickets Transfer of funds between persons Normal and Juridical Technical, trade-related and other business services Unclaimed Funds Placement Utility Bill Payments

4 Code Description ACM AES ALW ATS BON CCP CHC CIN COM COP CRP DCP DIV DOE EDU EMI EOS FAM FIS GDS GMS GOS GRI IFS IGD IGT IID INS IOD IOL IPC IPO IRP IRW ISH ISL ISS ITS LAS LIP Agency Commission Advance payment against EOS Allowances Air transport Bonus Corporate Card Payment Charitable Contributions Commercial Investments Commission Compensation Credit Card Payments Pre Paid Reloadable & Personalized Debit Card Payments Dividend Payouts Dividends on equity not intra group Educational Support Equated Monthly Instalments End of Service Family Support Financial services Goods Bought or Sold Processing repair and maintenance services on goods Government goods and services embassies etc Government related income taxes tariffs capital transfers etc Information services Intra group dividends INTER GROUP TRANSFER Intra group interest on debt Insurance services Income on deposits Income on loans Charges for the use of intellectual property royalties IPO Subscriptions INTEREST RATE SWAP PAYMENTS INTERST RATE UNWIND PAYMENTS Income on investment funds shares Interest on securities more than a year Interest on securities less than a year Computer services Leave Salary Loan Interest Payments

5 LNC LND MCR MWI MWO MWP OAT OTS OVT PEN PIN PIP PMS POR POS PRP PRR PRS PRW RDS RNT SAA SAL SCO STR STS SVI SVO SVP TCS TKT TOF TTS UTL Loan Charges Loan Disbursements Monetary Claim Reimbursements Medical Insurance or Auto Insurance etc. MOBILE WALLET CASH IN MOBILE WALLET CASH OUT MOBILE WALLET PAYMENTS OWN ACCOUNT TRNSFER Other modes of transport Overtime Pension Personal Investments Profits on Islamic products Professional and management consulting services Refunds or Reversals on IPO subscriptions POS Merchant Settlement PROFIT RATE SWAP PAYMENTS Profits or rents on real estate Personal cultural audio visual and recreational services PROFIT RATE UNWIND PAYMENTS Research and development services Rent Payments Salary Advance Salary Construction Travel Sea transport STORED VALUE CARD CASH IN STORED VALUE CARD CASH OUT STORED VALUE CARD PAYMENTS Telecommunication services Tickets Transfer of funds between persons Normal and Juridical Technical trade related and other business services Utility Bill Payments CROSS-BORDER USE ONLY Code Description CEA PPA DIF FSA FIA DSA Equity for the establishment of new company from residents abroad equity of merger or acquisition of companies abroad from residents and participation to capital increase of related company abroad Purchase of real estate abroad from residents Debt instruments intragroup loans securities deposits foreign Equity other than investment fund shares in t related companies abroad Investment fund shares foreign Purchases and sales of foreign debt securities less than a year in the related companies

6 DLA Purchases and sales of foreign debt securities more than a year in the related companies FDA Financial derivatives foreign AFA Receipts or payments from personal residents bank account or deposits abroad SLA Loans - Drawings or Repayments on loans extended to n residents - short term LLA Loans- Drawings or Repayments on loans extended to n - residents - long term LEA Leasing abroad RFS Repos on foreign securities TCR Trade credits and advances receivable CEL Equity for the establishment of new company in the UAE from non residents equity of merger or acquisition of companies in the UAE from n - residents participation to capital increase of related companies PPL Purchase of real estate in the UAE from n - residents DIL Debt instruments intragroup loans securities deposits in the UAE FSL Equity other than investment fund shares in t related companies in the UAE FIL Investment fund shares in the UAE DSL Purchases and sales of securities issued by residents less than a year in t related companies. DLL Purchases and sales of securities issued by residents more than a year in t related companies. FDL Financial derivatives in the UAE. AFL Receipts or payments from personal nonresident bank account in the UAE SLL Loans - Drawings or Repayments on foreign loans extended to residents - short term. LLL Loans - Drawings or Repayments on foreign loans extended to residents - long term. LEL Leasing in the UAE. RLS Repos on securities issued by residents. TCP Trade credits and advances payable.