HOW TO TAKE MONEY ABROAD LEGALLY?

The question of how much money can be legally taken abroad was relevant even before Russia's full-scale aggression. Now, when enough people leave Ukraine, it is in demand and ready. So let's figure it out. And also - we will tell you how the services of the Prikhodko&Partners law firm can be useful in this context.

How to declare money at the border?

Government Resolution № 203 of February 27, 2019 regulates this issue. It deals with the procedure for movement of currency values across the border by natural persons. It is interesting in the context of this topic because it contains an established model of the declaration form, which is filled out by a person transporting such valuables. This form is also called a declaration of cross-border movement.

The document states that such forms can be printed out by natural persons. It is important that the paper meets the necessary requirements. Its dimensions should be 210 x 296 mm, or A4. Therefore, you can print and fill out the document in advance. The regulatory act also states that the State Fiscal Service must be provided with these forms.

Our team, providing consultations, tells in detail how to fill out such forms correctly, and generally introduces clients to the procedure for transporting funds in a legal way.

What amount of money can be transported across the border?

If we talk about the export of funds without declaration, then the amount that can be exported in this way is equivalent to 10 thousand euros. If your savings are larger, then you need to declare them.

Therefore, when there is information on the network that the sum of more than 10 thousand euros cannot be taken abroad, it is false. Such funds can be exported, but their origin must be declared. Thus, the persons authorized by the state are convinced that the origin of currency values is legal.

So, it is worth moving on to what documents to confirm the origin of funds are relevant for customs officials. Only two types of bank statements are suitable here:

• about withdrawing cash from own accounts;
• on the purchase of bank metals in the relevant institutions.

This list of documents is exhaustive, so their other options cannot be taken into account. Therefore, in cases where the currency was received from the sale of an apartment or car or as a gift from relatives, it will be more difficult to prove the origin of these funds when crossing the border. Consultation of qualified lawyers is required in order to use the mechanisms of legal declaration of such funds in advance.

You also need to be aware that a bank statement confirming the origin of funds is valid for a limited time. We familiarize our clients with all these aspects when we consult on these issues.

Can a child transport money across the border?

When a family travels with a child, it is also possible to take up to 10,000 euros without declaration. This means that if, for example, a family of 4 people is traveling, where there are 2 adults and 2 children, then the maximum amount of money they can take out without declaration is 40,000 euros. When money in the amount of more than 10,000 euros is taken out for a child, a parent or guardian must fill out the declaration for a minor.

In summary…

In order to be able to legally export cash for further investment in business, real estate and opening bank accounts, it must be declared. Otherwise, you can use it only for cash transactions, such as paying rent or going to the store. However, our team will familiarize you with the algorithm of quick and legal declaration so that such a problem does not arise.

So, the answer to the question of whether minors can export currency abroad is affirmative. They are subject to the same limit as adults.

The lawyers of our company will provide you with comprehensive answers to questions related to the legal export of cash abroad. So contact us - we will effectively help in this matter and guide you in the norms of the current legislation.