Why should I use the Helpdesk?
Since EU sanctions target certain Iranian entities and individuals and forbid certain transactions with Iran in specific sectors, the Helpdesk provides EU SMEs with a free-of-charge initial assessment of their proposed business transaction that highlights any potential risk of countervailing EU sanctions. This assures you and your potential financial institution that the business activity is legitimate under EU legislation, reducing your transaction costs.
How should I approach the due diligence process?
After you have identified a potential business partner for your planned business activities in Iran, announce it about your intention to use the free-of-charge services of the Helpdesk to assess whether the proposed business activities are legitimate under EU sanctions. Both partners will provide a minimum necessary set of information that allows the Helpdesk to carry the due diligence procedures and elaborate a detailed Output Report, that will be made available to your company only.
What if my Iranian Business Partner is unable or does not agree to provide certain information as required by the Helpdesk?
You should further communicate to the Iranian partner that in the context of EU restrictive measures on Iran, the Helpdesk is designed to help European and Iranian companies to actually engage in business, risk-free. Providing sufficient information is in the best interest of the Iranian partner in order to build trust and make trade with the EU possible.
Information provided by both companies, as well as the risks identified, will be used solely by the Helpdesk for the due diligence process, will not be made available to each other nor to any third party, and will be kept in full confidentiality and respect to GDPR legislation.
In the absence of certain information, which constitutes in itself a risk factor, the Helpdesk will carry verification from independent sources to the furthest extend possible. However, the Helpdesk might not be able to deliver a conclusive risk assessment and therefore, the output report will not determine accurately whether the transaction and/or the Iranian business partner are subject to EU restrictive measures (sanctions).
How long does it take to generate the Output Report?
The Output Report will be generated following completion and submission of all documents required for due diligence, provided both by the EU SME and its Iranian Business Partner and upon verification of the documentation by the Helpdesk legal team. The overall length of the process depends on the complexity of the case. It could take about two weeks in non-problematic cases after the submission of all required documentation, but may last considerably longer if in-depth checks are required. We will guide you through this process on the basis of your specific request.
I want to sell my product/service to Iran but do not have a potential Iranian business partner. Can the Helpdesk help?
Unfortunately, the Helpdesk cannot connect its users directly with Iranian partners. However, the Helpdesk works closely with various institutions (diplomatic missions, chambers of commerce, trade promotion agencies etc.) which might assist your request. Please find the contact information under the ‘Partners’ tab of our website and feel free to reach out to these institutions during Helpdesk events.
I am an EU citizen and want to provide consulting services to an Iranian company. Do I have to conduct due diligence on the Iranian company?
All natural and legal persons, entities and bodies under EU jurisdiction, regardless of their location, are required to comply with EU sanctions. Therefore, EU natural and legal persons are strongly advised to conduct due diligence if they are to do business with Iran.
Does the Helpdesk provide any additional on-the-ground legal or business consulting services, or advice on banking matters on the Iranian market?
The Helpdesk works closely with various institutions (diplomatic missions, chambers of commerce, trade promotion agencies etc.) that might be able to help you with such questions. Please find contact information under the ‘Partners’ tab of our website and feel free to reach out to these institutions during Helpdesk events.
How does the Helpdesk ensure the security of my data?
The Helpdesk stores users’ data in a manner fully compliant with the EU’s General Data Protection Regulation (GDPR). Data collected from Helpdesk users and partners is stored securely on servers located within the EU, is used solely for the due diligence process and is not shared with third parties under any circumstances.
Whom should I contact if I encounter problems accessing certain parts of the website?
Please contact us at email@example.com and we will gladly assist you with any technical issues you might experience.