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Case No. IA-2013-300441-1
[ ]
Law Offices of Michael H. Moghtader, PLC
18321 Ventura Blvd., Ste. 840
Tarzana, CA 91356
Dear [ ]
This responds to your correspondence dated November 12, 2012, and April 15, 2013 (the "Application"), to the Office of Foreign Assets Control ("OFAC"), requesting an advisory opinion as to whether OFAC authorization is required under the Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (the "ITSR"), for General Entertainment & Music LLC in Dubai ("GEM Dubai") to transfer funds to General Entertainment & Music, LLC ("GEM USA"), a California corporation. We understand from information provided in the Application that GEM Dubai is wholly owned by [ ] an Iranian citizen who has been residing in Dubai for the past nine years and who does not currently own a home in Iran.
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1) This fact pattern differs from the typical remittance question pertaining to Iranian nationals living in third countries. When such nationals are "ordinarily resident" in the third country, payments to or from the person do not constitute exports of financial services "to Iran" (560.204/560.410).
This one is different, however, since the inquiry concerning funds of an Iranian national coming from a third country in which that person lives where there are the additional facts of the primary party to the transaction with the U.S. person being a Dubai-based company which is owned by an Iranian national.
Because this is of a commercial nature, the remittance GL (560.550) would appear to be irrelevant to the inquiry altogether.
OFAC determines that because the owner of the company is not "ordinarily resident in Iran" by virtue of the...