Trade with Iran remains a potentially complex topic. With the U.K, E.U. and U.S.A often contradicting each other officially and practically in terms of their policies, finding a solution on the best way to carry out trade with Iran can prove to be a frustrating and stressful proposition. In this article, can UK companies trade with Iran, we take a look at the fundamental questions and other considerations to bear in mind when establishing trade relationships with Iranian entities.
Free Initial Telephone Discussion
For a free initial discussion on how we can help you with the legal aspects of trading with Iran, get in touch with us today. We will review your situation and discuss the options open to you in a clear and approachable manner. Early expert legal assistance can help avoid the stress of dealing with these issues on your own and this is especially so with banking issues that may arise if you have not sought advice early. Simply call us on 0345 901 0445 or complete our online enquiry form and a member of the team will get back to you.
Is it lawful to trade with Iran?
Yes, except in some very specific areas of trade which are not relevant to 99% of businesses. England (along with the USA and some European countries) entered into the JCPOA agreement with Iran, which came in to effect on 16 January 2016, this agreement actively encourages trade and financial facilities between the UK and Iran. The Trump administration withdrew (potentially unlawfully) from the JCPOA in May 2018. This has caused many issues for UK companies wishing to trade with Iran. However, it does remain lawful for UK companies to trade with Iran and it is a matter of understanding the law and practicalities to ensure your business is successful.
Are there any other factors to consider?
Although it is lawful to carry out business with Iran, many companies will also be mindful of the following issues. It is worth noting, however, that there is normally a solution that can be found:
- Reputational risk especially if your company has US clients.
- Logistics of sending goods to Iran.
- Banking difficulties which may result in non-payment to you for your goods.
- Difficulties in carrying out due diligence on your potential customer.
- The cost of doing business with Iran can often be higher than trading with other companies due to the other above mentioned issues.
How we can help
We have a proven track record of helping clients of all sizes trade with Iran. We will guide you through all the necessary legal due diligence in a comprehensive and timely manner. We firmly believe that with the right solicitors by your side, the entire process will seem more manageable and far less daunting.
How to Contact our expert Solicitors
It is important for you to be well informed about the issues and obstacles you are facing. However, expert legal support is crucial in terms of saving you money and ensuring you achieve a positive outcome.
To speak to our Specialist solicitors today, simply call us on 0345 901 0445, or allow a member of the team to get back to you by filling in our online enquiry form. We are well known across the country and can assist wherever you are based. We also have offices based in Cheshire and London.
Disclaimer: This article provides general information only and does not constitute legal advice on any individual circumstances.
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