OFAC Regulatory Provisions - 31 CFR § 515.340 Self-employed individual.

Ed. Note: if you’re new to TURBOFAC, please take note that the text string filtration function generally shouldn’t be used for terms such as “ordinarily resident,” “causing” or “new debt”. For research on the meaning of words and phrases such as those, i.e. terms central to the key legal issues in sanctions law that appear on a cross-programmatic basis, you’re typically better off locating and checking the appropriate box in the “Key Legal Issues” search category, which will limit the results to those that have been manually assessed as being relevant for the interpretation of the terms at issue.

Try typing your search term (“ordinarily resident,” “new debt,” or something else) in the “Find a Search Filter” box at the top of the page, and the corresponding “Key Legal Issues” check box will pop up instantly, if one exists. Once you check the box (e.g. “new debt,” with ~55 results), you can always use the text string filtration function to further refine your search (e.g. by typing “invoice” and narrowing the ~55 results to ~10).

Note in addition that the same applies to text string searches such as “14071” (if you’re looking for items related to EO 14071). By typing “14071” in the “Find a Search Filter” field up top, you will be able to instantly narrow the results down to items manually assessed as relating to EO 14071. Ditto terms such as “515.204” or “Iran General License G” (try the “Discrete Legal Provision” search category). Please contact [email protected] or [email protected] with any questions on search results and efficiency.

Please click "Apply Text String Filters" again after clicking the "Close" button immediately below.

TURBOFAC Commentary (256 words)

Notes:

1) This provision was initially added to the in Sept. 2019 as a definition for “Self-employed individual,” for the purposes of administering the amended 515.570 (Remittances). 515.570(g)(3) was amended to allow for certain remittances for to support "the development of private businesses, and operation of economic activity in the non-state sector by self-employed individuals, as defined in §515.340," whereas previously the provision only referred to "the development of private businesses, including small farms." The amended definition served to restrict the scope of 515.570(g), which appears as a closed list.

On 5-29-24, OFAC amended this provision so that the range of persons eligible for 515.570(g) is expanded to include entities, i.e. any “private cooperative or small private business entity located in Cuba of up to 100 employees that is owned only by individuals described in...

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31 CFR § 515.340 Self-employed individual.

TURBOFAC Commentary (256 words)