IX. Miscellaneous

69. Are specific licenses still required for transactions relative to the administration of a Cuban
estate?

Previously, a specific license was required for certain estate-related transactions that were not
generally licensed, including to unblock shares of a Cuban estate for a U.S. beneficiary and to
remit the estate of a person subject to U.S. jurisdiction to a Cuban national who is not a close
relative. OFAC has expanded the general license at 31 CFR § 515.523 to authorize all
transactions incident to the administration and distribution of the assets of a blocked estate of a
decedent. All property distributed pursuant to 31 CFR § 515.523 is unblocked, provided that
neither Cuba nor a Cuban national (other than the decedent or a person unblocked pursuant to 31
CFR § 515.505) has an interest in the property. For a complete description of what this general
license authorizes and the restrictions that apply, please see 31 CFR § 515.523.

Furthermore, funds deposited in a blocked account in a banking institution in the United States
held in the name of, or in which the beneficial interest is held by, a national of Cuba as a result of
a valid testamentary disposition, intestate succession, or payment from a life insurance policy or
annuity contract triggered by the death of the policyholder or contract holder may be remitted to
the national of Cuba pursuant to 31 CFR § 515.570(g). For a complete description of what this
general license authorizes and the restrictions that apply, please see 31 CFR § 515.570(g).

70. What does the regulatory term “cash in advance” mean ?

The regulatory interpretation of “cash in advance” has been changed from “cash before shipment”
to “cash before transfer of title and control” to allow expanded financing options for authorized
exports to Cuba. For the full text, see 31 CFR § 515.533.

71. What types of projects would fall within the authorization in 31 CFR § 515.575 for
    microfinancing projects?
    

    Among other things, the provision for microfinancing projects in Section 515.575 of the CACR
    authorizes the provision of certain financial services to unemployed, underemployed, and low-
    income Cubans who have little or no access to conventional banks or comparable resources, and
    which may include a limited return on investment. In addition, Section 515.570(g)(1) of the
    CACR authorizes remittances to individuals and independent non-governmental entities in Cuba
    to support authorized microfinancing projects. These provisions would authorize, for example,
    relatively limited contributions of funds to support individual entrepreneurs in sectors that need
    access to working capital, investment loans, insurance, or training in order to start or expand their
    operations. Sections 515.575 and 515.570(g)(1) of the CACR do not authorize loans, extensions
    of credit or other financing related to transactions involving confiscated property the claim to
    which is owned by a U.S. national, which are prohibited by 31 CFR § 515.208. For additional
    guidance or fact-specific questions, we would encourage you to contact OFAC.
    

72. If a person had applied for a specific license from OFAC before the CACR was revised but
    now believes that the proposed activity is authorized pursuant to a general license, does that
    person need to wait for his or her specific license application to be adjudicated?
    

    No. If persons meet the qualifications listed in the general license, then they do not need to wait
    for an official determination from OFAC regarding their specific license application. Persons
    who have determined they may proceed under a general license may wish to contact OFAC
    Licensing to withdraw existing applications.
    

73. What types of goods and services produced by independent Cuban entrepreneurs are
    authorized for importation into the United States from Cuba pursuant to 31 CFR §
    515.582?

VIII. Third-Country Effects

66. Are Cuban nationals located outside of Cuba still considered blocked?
    

    Yes, but any individual Cuban national who can establish that he or she has taken up permanent
    residence outside of Cuba and otherwise meets the requirements set forth in 31 CFR § 515.505 is
    generally licensed as an unblocked national. Additionally all persons subject to U.S. jurisdiction
    are authorized to provide goods and services to Cuban national individuals located outside of
    Cuba, provided there is no commercial exportation of goods or services to or from Cuba. For a
    complete description of what this general license authorizes and the restrictions that apply, please
    see 31 CFR § 515.585.
    

67. Can U.S.-owned or -controlled entities in third countries engage in trade/commerce with
    Cuban nationals located outside of Cuba?
    

    U.S.-owned or -controlled entities in third countries may provide goods and services to a Cuban
    national located outside of Cuba, provided that the transaction does not involve a commercial
    exportation, directly or indirectly, of goods or services to or from Cuba. For a complete
    description of what this general license authorizes and the restrictions that apply, please see 31
    CFR § 515.585.
    

68. Are U.S.-owned or -controlled entities in third countries authorized to provide financial
    services to Cuban nationals located outside of Cuba?
    

    Yes. U.S.-owned or -controlled entities in third countries may provide financial services to a
    Cuban national located outside of Cuba, provided that the transaction does not involve a
    commercial exportation, directly or indirectly, of goods or services to or from Cuba. For a
    complete description of what this general license authorizes and the restrictions that apply, please
    see 31 CFR § 515.585.