New German Regulations Permit Transfer of Indemnification Funds

Jews now living in most countries outside Germany whose businesses or real estate in Germany have been returned to them or who receive indemnification payments from the German Government may from now on transfer to countries outside Germany profits, rents, indemnification monies or the proceeds of the sale of their property.

This new state of affairs follows the easing of most of the fiscal regulations which placed such monies in blocked accounts or made payment in “blocked marks” which could only be transferred to specific countries and in specific amounts. Special licenses or permits for transferring such funds are no longer required.

Regulations governing transfers to the dollar area, however, remain in force–including the transfer of specific amounts. Only pensions may be transferred directly to dollar area countries.

NEXT STORY