June 18, 2024

OFSI issues personal staff payments licensing guidance

On June 12, 2024, the UK Office of Financial Sanctions Implementation issued guidance to help the public understand the circumstances under which licenses may be granted concerning payments for the personal staff of designated persons.  This includes staff members who provide domestic or non-professional services to a designated person or are employed by companies owned or controlled by designated persons.  The guidance confirms that OFSI generally does not license payments to personal staff of designated persons but does consider exceptions to this position under extenuating circumstances.  The guidance also contains separate discussions on some of these exceptions, including Basic Needs, Routine Holding and Maintenance, and Prior Obligations.

OFSI Personal Staff Payments Licensing Guidance