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Office of Financial Sanctions Implementation license in UK

Business and Industry Services
From Uzbekistan
To Portugal
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Sep 15, 2020
How long does it take to receive an OFSI (Office of Financial Sanctions Implementation) licence in UK?

1 answer

Sep 23, 2020

OFSI aims to engage with applicants on the substance of a completed licence within four weeks. This does not mean a licence will necessarily be issued within four weeks. Each case is dealt with on a case-by-case basis. More complex cases may take longer to resolve and the Office of Financial Sanctions Implementation may need to come back to you for more information. Sometimes the Office may need to notify, or seek approval from the European Commission or the relevant United Nations Sanctions Committee before they can issue a licence. These requirements are set out in the relevant United Nations Security Council resolutions or EU regulations. These requirements will lengthen the processing time for such licence applications and may, in some cases, prevent a licence being issued.

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