Industry News

MICC Update: For Iranian applicants who are not in the sanctions list

MICC Update: For Iranian applicants who are not in the sanctions list

MICC has issued further details surrounding the processing of Iranian files affected by the recent amendments to the Economic Sanctions.

Applicants listed in Schedule 1 of the regulations

Processing of files for applicants who are listed in Schedule 1, or have substantial interest (shareholder or manager) in a company listed in Schedule 1 will be suspended.

Applicants NOT listed in Schedule 1 of the regulations

Applicants who are not listed can apply. However, their assets will not be recognized if they are deposited in a Bank listed in Schedule 1. For the purposes of immigration, applicants are allowed to transfer their funds to another Bank, which is not on the list of sanctions, prior to submitting their application.

For more information, please contact us.


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