Speaking to Gulf News, the emirate's deputy chief of police Major General Khamis Mattar Al Mazeina said a Dutch national had been detained after a request from Interpol.
The suspect is believed to be a member of an organized gang linked to drug trafficking between South America, Europe and South Africa.
As part of the same operation, six people were arrested in Belgium and six others were detained in the Netherlands, Hungary and South Africa.
Major General Al Mazeina said the suspect arrested in Dubai had been setting up a company in one of the emirate's free zones in an attempt to "lend legitimacy to his ill-gotten wealth", the newspaper noted.
He will be extradited to the Netherlands for trial, the deputy police chief added.
Last month, Dubai police cracked a suspected money laundering operation covering 13 nations thought to be worth around $28 billion.