Case No. IA-2013-303511
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Dear [ ]
This is in response to your correspondence dated June 8, 2013 (the "Application"), to the Office of Foreign Assets Control ("OFAC"). Specifically, you are seeking authorization related to the sale of real property, "company sharing," and other items in Iran and to transfer the proceeds from the sales to the United States.
The Iranian Transactions and Sanctions Regulations, 31 C.F.R. Part 560 (the "ITSR"), generally prohibit the importation into the United States of any goods or services of Iranian origin or owned or controlled by the Government of Iran. ITSR, § 560.201. The ITSR also 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...
1) 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.
2) The sale of real property in Iran and transfer of proceeds, the importation into the U.S. from Iran of items for personal use, and the remittance to the U.S. from Iran of one's own funds are all authorized. The guidance clarifies that, as opposed to real property, the sale of a U.S. person’s items in Iran is not generally authorized. Such sales would constitute, presumably and at a minimum, the import or export of services to and/or from Iran (560.204, see also 560.206), but a GL was added to the ITSR in 2018 to...