The UK Office of Financial Sanctions Implementation recently issued two general licenses under all UK Autonomous Sanctions Regulations. On July 1, 2024, OFSI issued General License INT/2024/4881897 to authorize UK Designated Persons (“ UK DPs”), or Persons acting on their behalf, to make Permitted Payments to certain Revenue Authorities. The general license also enables UK DPs to repay Persons acting on their behalf the same amounts paid to Revenue Authorities. This general license requires UK DPs to report the following details to OFSI within 10 days of making a Permitted Payment: the name of the DP; the type of Permitted Payment made; the amount(s) paid; the payment route used; and the date of the payment. UK DPs are also required to keep accurate and complete records of all related transactions for a minimum of six years.
On July 3, 2024, OFSI issued General License INT/2024/4907888 to enable Visa Application Service Providers to receive certain Permitted Payments from UK DPs, or Persons acting on their behalf. The general license also enables Visa Application Service Providers to remit Permitted Payments to Relevant Entities and enables UK DPs to repay Persons acting on their behalf the same amounts paid to a Relevant Entity. Visa Application Service Providers that receive payments under General License INT/2024/4907888, must send a report with the following details via email to the HM Treasury within 28 days of identifying a Permitted Payment: the name of the UK DP; the amount(s) paid; the payment route used; the reason for the payment; and date of payment. They are also required to keep accurate and complete records of these transactions for a minimum of 6 years.
General License INT/2024/4881897 | Publication Notice – General License INT/2024/4881897 | General License INT/2024/4907888 | Publication Notice – General License INT/2024/4907888