Attorney Majid Foroozandeh Examines Effects of Iran Sanctions Lifting

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Immigration attorney Majid Foroozandeh, of the Law Offices of Foroozandeh, APC, in light of a January 16, 2016, article on RT.com, discusses the lifting of Iran sanctions.

the Law Offices of Foroozandeh, APC

It is a business opportunity frenzy and everyone is interested in their fair share of the Iranian market. However, understanding what can or cannot be done is the key here.

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“People call me all the time from Iran asking how they can transfer money from Iran to Iranians in the U.S., and I tell them citizens of Iran can send money to the U.S., and American Iranians residing in the U.S. can transfer money from Iran, but both must follow very specific steps pursuant to Office of Foreign Assets Control (OFAC) regulations,” said Majid Foroozandeh, an attorney and native of Iran. “In fact, certain transfer of funds to the U.S. from Iran require obtaining an OFAC license in advance of the transfer, and the lifting of Iran sanctions will further impact and change this current process.”

According to the RT.com article, Western sanctions against Tehran were officially lifted after the International Atomic Energy Agency (IAEA) reported Iran fulfilled all of the measures required under its deal with six world powers, aka the P5+1: China, France, Germany, Russia, the United Kingdom and the United States. The IAEA certification of Tehran keeping its obligations will allow Iran to immediately recoup some $100 billion in assets frozen overseas. Furthermore, the U.S. Treasury Department has announced that it will permit foreign subsidiaries of American firms to operate in Iran, and non-U.S. citizens will now be permitted to trade with Iranian government institutions, as well as sell goods and services.

“I also have Iranian corporate clients in other countries such as UAE and Turkey who under enterprise visa (E Category) provisions or L-1 visa are interested and are in the process of submitting petitions for opening branch offices here and transferring their executives to America to start trade and business,” said Foroozandeh, who in 2015 received the Best of Business Award for Irvine, CA, Lawyers and has also received Lead Counsel Rating awards for 2013, 2014 and 2015 in Immigration. “It is a business opportunity frenzy and everyone is interested in their fair share of the Iranian market. However, understanding what can or cannot be done is the key here.”

Mr. Foroozandeh holds a BS in Manufacturing Engineering Technology, an MBA and a Juris Doctoral Degree. He is a member of the California State Bar, and is admitted to practice in California, the U.S. Court of Appeals and the U.S. Tax Court, as well as the U.S. Court of Appeals for the Armed Forces in Washington D.C., the U.S. Court of Appeals for Veterans Claims, the U.S. Federal Courts for Central, Eastern and Southern Districts of California, the U.S. Court of International Trade, and the U.S. Court of Appeals for the Federal Circuit.

About the Law Offices of Foroozandeh, APC
The Law Offices of Foroozandeh, APC is an Orange County–based law firm engaged in handling cases involving immigration, domestic and international business and contract issues, criminal, personal injury, bankruptcy, real estate, employment and labor. For more information, please call (949) 336-8505, or follow them on Facebook. The law office is located at 9891 Irvine Center Drive, Suite 130, Irvine, CA 92618, and they represent clients throughout Orange, Los Angeles, Riverside, San Bernardino and San Diego Counties, as well as internationally.

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