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Case No. IA-2012-298985-1
[ ]
The Law Offices of Saeid B. Amini
730 24th Street, NW
Suite One
Washington, DC 20037
Dear [ ]
This responds to your letter dated October 23, 2012 (the "Application"), submitted on behalf of [ ] to the Office of Foreign Assets Control ("OFAC"), requesting authorization for two transactions. The first request is for authorization to sell property in Iran and transfer these funds to the United States. Secondly, you request authorization for [ ] to receive a loan from his brother and nephew in Iran.
The Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (the "ITSR"), generally prohibit the exportation, reexportation, sale, or supply of any goods, technology, or services, directly or indirectly, from the United States or by a U.S. person, wherever located, to Iran or...
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1) OFAC considers "loans" (as opposed to "gifts") even from immediate family members to fall outside of the scope of the general license for personal remittances, even where the loans are non-commercial in nature.
2) See "General Note on Remittances; Guidance Letters Concerning Personal Remittances (System Ed. Note)" for a summary of notable points common to the majority of the guidance letters dealing with the subject.