How to travel with large amounts of cash?
score:5
IANAL and it is best for you to confirm with a lawyer since this answer is not legal advice.
Yes and no. You are indeed allowed to bring a large amount of cash and you are obliged to disclose it. Doing so is therefore legal but the reason they ask to disclose large amounts of cash coming into the country is that this is often related to suspicious activity.
When you declare the amount, you will be thoroughly questioned and it is the custom officer who decides what proofs to ask and whether to escalate the disclosure. Bear in mind that, even if you pass through customs with minimal hassle, you are likely to be questioned every time you cross the border in the future even if you do not declare such amount on subsequent trips because this will be in your history. I know people for which this has been happening after making just one such declaration.
It is better to not fly with the actual cash and do a wire transfer. You will still be importing the same amount but there are fewer suspicions with traceable transfers than cash. An accountant should be consulted to know if you will have to pay taxes on your gains. This varies by jurisdiction but usually there is a threshold below which no tax is claimed and above that a lot of factors apply.
Upvote:1
You must be prepared to justify your possession of the cash, i.e., demonstrate that the cash is the result of legal activities. Paperwork (ledgers, account books, bank statements, etc.) will be more persuasive than words. But it is impossible to predict whether whatever documents you carry will be enough to satisfy the authorities; there are too many variables.
Guessing wrong will have really bad consequences. Thus, it'd be best to not carry cash. If you guess wrong, and they think you're trying to pull the wool over their eyes, the currency could be seized by any of the border authorities you encounter.
You're much better advised to transfer funds in another manner.
More post
- 📝 Applying for a long-stay visa after having a Schengen visa refused
- 📝 Can I enter and leave Thailand with two different passports?
- 📝 ESTA visit more than 90 days but with a 30 day stay in mexico
- 📝 Can I leave the transit area during an EU+Schengen layover?
- 📝 Can tourists view missile tests at the White Sands Missile Range?
- 📝 Is WI-FI available in Lyon Airport upon arrivals?
- 📝 Travel by train / bus from Newark Airport to Philadelphia Center City
- 📝 How many days can I stay in Korea annually?
- 📝 How long is the process to obtain a French working holiday visa as an Australian?
- 📝 Returning to the UK after previous temporary admission?
- 📝 My Indian visa has no photograph but my partner's visa does
- 📝 How many days get >1mm of rain in Guimarães and Coimbra?
- 📝 Re-entering Canada after minor contact with the police there
- 📝 Applying for tourist visa for US in country other than your own
- 📝 Is there a Schengen area database that can see past travel in the Schengen area?
- 📝 How does the Baja California Sur sustainability tax work?
- 📝 Is it allowed to wear a bulletproof vest in Hong Kong?
- 📝 Require Airport Transit Visa in Germany?
- 📝 Where can I find official information about visa on arrival to South Sinai?
- 📝 Visting Yellowstone without a drivers license
- 📝 What is the difference between a passenger being on hold and standby?
- 📝 Are there ATMs at Robert L. Bradshaw International Airport in St Kitts?
- 📝 Transit visa needed for Australia when flying from New Zealand to South Africa?
- 📝 Rail travel from Turkey through Georgia to Russia
- 📝 Going to UK from US on Tier 4 visa, but going on holiday from UK to Sardinia first
- 📝 UK visa refused. Can I now apply for a Schengen visa?
- 📝 Booked a flight ticket with wrong passport number via a travel agency
- 📝 UK consulate in Chennai made a mistake and refused my visa
- 📝 Buying alcohol in Prague
- 📝 Granted admission on WB instead of B1/B2, Denied Correction by CBP
Source: stackoverflow.com
Search Posts
Related post
- 📝 How to travel with large amounts of cash?
- 📝 How can I pay with both miles/points and cash for a flight on Delta?
- 📝 How to travel with huge sum of money?
- 📝 How to travel to California with my cat - with United
- 📝 How to travel to O'Hare from Megabus bus stop beside Union Station, Chicago with luggage?
- 📝 How do I travel on a return flight with a different passport from my outgoing flight?
- 📝 How difficult is it to travel with a yumi (longbow) in Japan?
- 📝 How I can travel with a 576Wh single‑cell lithium‑ion battery (or 12Ah with 48V) from mainland France to Guadeloupe in the French West Indies?
- 📝 Carrying large amounts of cash in Japan
- 📝 How to deal with travel excitement?
- 📝 How do I travel to the USA with my dog (from Europe)?
- 📝 Travel from USA to India with $8K cash
- 📝 How can we travel to Canada with our maid?
- 📝 How to find flights with a large enough seat pitch to use a laptop?
- 📝 How can a Pakistani with an expired passport obtain travel document to travel to Pakistan?
- 📝 How many electronics can I take with me when I travel from USA to the UK
- 📝 Family visit visa from Pakistan with 4 large credits in bank statement. How to justify?
- 📝 How do I get from Cairo Airport to Port Said with 2 large 20kg bags?
- 📝 How to travel to and within the EU with a small dog from Canada?
- 📝 How to travel with 5K euros internationally?
- 📝 How can I travel from Nigeria to Jamaica with just a Jamaican visa?
- 📝 How to apply for a Thai visa with a US travel document issued to refugees?
- 📝 How long can I travel for with 30k?
- 📝 How to get to Tokyo downtown from Narita airport, with a bag, during rush hours?
- 📝 Can I travel to EU states with a Bulgarian Blue Card?
- 📝 Can I travel to Dublin with a Permanent Residence (UK)?
- 📝 Can I travel with my fitness tracker with me on a flight?
- 📝 How to book a hotel room with V Pay Card
- 📝 Pay cash hotels booked with Agoda?
- 📝 How can one travel to South Africa after previously having been banned for an overstay, after the ban has expired?
