DEVELOPERS
•
Document All Decisions and Reasoning - Ensure you
know all the parties involved, their nationalities, and
the legal limits of the transaction. Additionally, perform
anti-corruption due diligence and document your
diligence in writing for further protection.
Looking Forward
OFAC will continue to revise the Iran sanctions and remove
certain entities from restricted parties lists as the political
situation evolves. Continue to check in with your legal counsel
for updates as the U.S.-Iranian relationship progresses. In
the meantime, all parties should continue to fulfill OFAC
requirements for Iranian investment and continue completing
restricted party due diligence to maintain compliance in this
changing environment.
★
Doreen Edelman is a shareholder and cochair of Baker Donelson’s Global Business
Team. With 25 years of experience counseling companies on export compliance matters
and global expansion, Edelman advises clients on their export and import compliance
obligations, conducts internal audits and
training, prepares voluntary disclosures, and
assists companies with product classification
and licensing applications. She works daily
with the Office of Foreign Assets Control
(OFAC) to help clients navigate the requirements for Iran, Cuba, and Russian trade as
well as monitoring restricted transactions.
1.5% - 7.0%*
EB-5 LOANS
Immigration Agent
ImmCapital.com
(702) 889-2828
rbiegel@immcapital.com
*depending on equity participation
Andrew Bisbas is an associate in Baker
Donelson’s Washington, D.C. office. He
works on matters regarding import and
export compliance including import and
export controls, economic sanctions,
anti-bribery compliance, EB-5 immigration
matters, CFIUS foreign investment issues,
and Customs and Border Protection (CBP)
regulations. He works with businesses to
classify items for import and export and
acquire licenses from the Department of
Commerce’s Bureau of Industry and Security
(BIS), the Department of State’s Directorate
of Defense Trade Controls (DDTC), and the
Department of the Treasury’s Office of Foreign Assets Controls (OFAC).
Abbey Baker is an associate in Baker Donelson’s Washington, D.C. office and a member
of the Firm’s Global Business Team where
she focuses her practice on trade, assisting
companies expanding their businesses and
engaging in the global marketplace while
also meeting U.S. and foreign regulatory
requirements. Baker counsels clients on
foreign business climates, regional industry
opportunities and obstacles, foreign and
domestic governmental obligations, OFAC
sanctions, and transaction risks.
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