Requests relating to the Foreign Exchange and Foreign Trade Act and Economic Sanctions
To comply with the domestic sanctions regulations (such as the Foreign Exchange and Foreign Trade Act of Japan ("FEFTA")) as well as the international sanctions regulations imposed by the competent regulatory authorities, REVOLUT TECHNOLOGIES JAPAN, Inc. confirms that all client fund transfers do not constitute prohibited transactions under relevant sanctions.
As part of such confirmation, please kindly confirm and declare that your transactions do not fall under the restricted transactions listed below.
1. "Restrictions on Payments for Trade" involving North Korea
- Transactions related to the import or intermediate trade of all kinds of goods whose place of origin or region of shipment is North Korea
- Transactions related to the intermediate trade of goods whose destination is North Korea
2. "Restrictions on Payments for Specific Purposes" involving North Korea
- Transactions conducted for the purpose of funding "activities that contribute to North Korea's nuclear projects"
3. Prohibition on payments to individuals/entities who are domiciled in North Korea (except for the payment for humanitarian purposes whose amount does not exceed ¥100,000)
4. "Restrictions on Payments for Specific Purposes" involving Iran
- Transactions conducted for the purpose of funding "activities that contribute to Iran's nuclear activities"
5. Restrictions on payments related to specified countries or regions
6. “Restrictions on Outward Direct Investment” concerning Russia
- New outward direct investment to Russia
- Payment of funds for business activities conducted in Russia or outside Russia with Russian companies involved
7. “Restrictions regarding Service Transactions” concerning Russia and Belarus
- Service transactions (provision of technology, etc.) with respect to regulated transactions concerning Russia or Belarus
8. “Restrictions on Capital Transactions” concerning Russia
- Loan or guarantee contracts for debts in relation to the purchase of maritime transported Russian crude oil, etc., which are traded at prices above the price cap
For the details and latest information on the restrictions under the FEFTA can be found in the website of the Ministry of Finance (in Japanese).
We may contact you if we are unable to determine whether or not the payment falls under above restricted transactions, or if we think it would be necessary to ask you to provide additional information/document for underlying trade or details of purpose of funds. In the event where we are unable to confirm, we may not be able to process your fund transfer until a final and definite determination can be made with regard to its compliance with applicable laws and regulations. Your continuous understanding and support is much appreciated.
If you have any questions, please contact us in the in-app chat.