Do I need an OFAC license to travel to Cuba?

Do I need an OFAC license to travel to Cuba?

Travel to Cuba for tourist activities remains prohibited by statute. However, OFAC has issued general licenses for 12 categories of travel. Individuals are not required to obtain licenses from OFAC if their travel is covered by a general license.

Is Cuba OFAC sanctioned?

SANCTIONS ON CUBA OFAC administers an economic embargo on Cuba that prohibits persons subject to U.S. jurisdiction from engaging in transactions involving property in which Cuba or a Cuban national has an interest.

How do I get my OFAC license?

In order to apply for a specific license to release blocked funds, you are encouraged to file an electronic application to have blocked funds released by visiting the following link: https://home.treasury.gov/policy-issues/financial-sanctions/ofac-license-application-page.

What are OFAC licenses?

A license is an authorization from OFAC to engage in a transaction that otherwise would be prohibited (e.g. release of blocked funds).

Who must comply with the OFAC?

All U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S incorporated entities and their foreign branches.

What travel documents do I need for Cuba?

All travelers to Cuba must possess a valid passport, a return ticket, travel insurance policy with medical coverage, and a visa or tourist visa. Unlicensed U.S. citizens may be allowed a stay of up to 90 days upon entry.

Is it legal to send money to Cuba?

Bank transfers between the United States and Cuba are currently prohibited, because American banks cannot process financial transactions with Cuban banks. However, many banks outside of the United States maintain commercial relationships with Cuban banks.

Can US citizens travel to Cuba?

It’s perfectly legal for Americans to travel to Cuba, except for explicit tourism purposes. However, you will need to meet some requirements. Specifically, you need a Cuban Tourist Card (a.k.a Cuban Visa), travel insurance, and a self-certification under one of the 12 travel categories of authorized travel to Cuba.

How do I verify a OFAC license?

1. To verify a specific license, please contact the OFAC Licensing Division at 1-202-622-2480.
2. To verify an SDN removal letter, please email [email protected].
3. To verify another OFAC document, please contact the OFAC Compliance Division at 1-202-622-2490.

How do I contact OFAC?

When Should I Call the OFAC Hotline?…Contact us by Telephone.

Does OFAC enforce the bank Secrecy Act?

BSA & Office of Foreign Assets Control (OFAC) Enforcement The OCC uses informal and formal enforcement actions to ensure national banks, federal savings associations, federal branches, and agencies of foreign banks compliance with BSA.