Travelling with EUR 10,000 or more?
Don't forget to declare it!
All travellers entering or leaving the EU with EUR 10,000 or more in cash must declare the sum to Customs in order to comply with European Regulation (EC) No 2018/1672. This initiative is introduced for the purpose of assisting the efforts made at EU level to tackle crime and improve security by cracking down on money laundering, terrorism and criminality.
Who must lodge a declaration?
Any person entering or leaving the European Union if this person is carrying EUR 10 000 (or its equivalent in other currencies) or more in value of one or more of the following items included under the new definition of cash:
- Banknotes and coins (including currency now out of general circulation but that can still be exchanged in a financial institution or central bank),
- Bearer negotiable instruments such as cheques, travellers’ cheques, promissory notes and money orders,
- Gold coins with a gold content of at least 90 %,
- Gold bars, nuggets or clumps with a gold content of at least 99.5 %
Where I have to lodge the declaration?
The declaration must be completed and lodged with customs (or other competent authority) at the control point through which you enter or leave the EU by submitting the application form CC2.
What if I fail to complete the declaration or submit a false one?
- The cash could be detained or seized; and
- You could be subject to penalties.
Furthermore the customs authorities are authorised to act on amounts lower than EUR 10.000 when there are indications that the cash is linked to criminal activity.
Please be aware that there are separate control and declaration provisions for intra community cash movements in some Member States. These will be applied in addition to EU rules.
Further background information and references to websites of individual Member States is available via the European Commission website.