Netherlands wants another EU agency based in The Hague with Anti Money Laundering Authority proposal

The Hague hopes to house a new anti-money laundering agency, which the European Union is currently putting together. The Anti Money Laundering Authority (AMLA) will fight money laundering and the funding of terrorist organizations, and could bring the city between 25 to 30 million euros of income per year, according to Omroep West.

The agency is expected to start running in 2023 and reach full operation in 2026, eventually employing between 200 and 600 people. It is not yet known where the agency's headquarters will be and no EU country has officially applied so far. But the Dutch Cabinet favors the idea of the Netherlands housing the new agency, with The Hague being a top pick.

"In order to remain relevant as a beacon of peace and justice in the future, The Hague is actively working on deepening, broadening and renewing this profile. This is done, among other things, by attracting new organizations that suit the city," said a statement from The Hague city council, according to Omroep West.

The municipal executive of The Hague also believes the European organization could provide valuable internships and employment for university students in the city. Although the housing market is tight in The Hague, the city council says possible employees are likely to also settle in surrounding areas.

Germany and France are also expected to apply for a chance to host the new agency. Austria and Italy could also apply. The decision will ultimately be up to the European Commission, Omroep West reports.