Export of currency abroad

Taking currency abroad is a process that often requires attention and a clear study of the rules and restrictions established by the country's legislation. In many countries there are certain restrictions on the amount of money that can be taken abroad without declaration. One of the most common restrictions is the rule that applies to the export of an amount of currency equivalent to or exceeding a certain amount - for example, 10 thousand euros. In this article, we will consider in detail the legal aspects of this issue, the declaration procedure, as well as the possible consequences of violating the established restrictions.

Ukraine also has its own legislation that regulates the export of foreign currency. According to the Decree of the President of Ukraine "On establishing restrictions on currency transactions in Ukraine and for the purpose of ensuring the stability of the banking system" № 133/2019 dated May 13, 2019, the export of currency values, cash and metals in the amount equivalent to or exceeding 10 thousand euros is subject to mandatory declaration.

The declaration can be made at the customs office or at the corresponding customs point when leaving Ukraine. The person who exports currency is obliged to fill out a special declaration on the export of currency values according to the form and present it to the customs authority.

In case of non-fulfillment of the mandatory declaration or submission of inaccurate information regarding the export of currency abroad, fines may be applied in accordance with the current legislation of Ukraine.

It is worth noting that the legislation of Ukraine regarding the export of foreign currency may change, therefore, before leaving Ukraine, it is recommended to familiarize yourself with the current requirements and rules in order to avoid troubles and possible legal consequences.

At the same time, violation of the rules of export of foreign currency can have serious consequences. In case of non-fulfillment of the mandatory declaration or submission of inaccurate information regarding the export of currency abroad, fines may be applied in accordance with the current legislation of Ukraine.

According to Article 204 of the Code of Ukraine on Administrative Offenses, persons who violate the rules of export of foreign currency may be subject to a fine in the amount of 340 to 850 non-taxable minimum income of citizens, or to administrative arrest for a period of up to 15 days.

In addition, in case of serious violations, for example, attempts to export currency to "circumvent the law", or for the purpose of financing terrorism or other criminal acts, more serious sanctions, including criminal liability, may be applied.

Therefore, before taking the currency abroad, it is necessary to comply with all the requirements of the legislation and declaration rules in order to avoid troubles and legal consequences.

Our qualified specialists have extensive experience in this field and are ready to help you clarify any legal aspects and prepare the necessary documents.

If you have a question regarding the export of currency abroad, namely: what quantity, how much currency can be exported per person, can children carry currency, etc. it is better to consult a lawyer to avoid trouble when crossing the border. Fill out the form on the website and our lawyer will call you in the near future.