Declaration of currency values when crossing the border

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Yasinskiy Yevhen

Head of tax law practice

An expert in the practice of tax law, specializes in the protection of rights in court, corporate law.

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Declaration of currency values when crossing the border

The movement of currency values across the border is quite strictly regulated by the norms of the current legislation. Previously, funds could go abroad through a bank transfer, but today there are restrictions from the National Bank that made this route impossible. Consequently, funds transported across the border in the form of cash must be declared in the manner prescribed by law. If you are interested in professional legal support in such matters, you can contact the team of the Prikhodko & Partners law office for it. We have competent specialists who can assist with such requests and regularly provide advice on this issue.

 

Why do you need to declare currency values when crossing the border?

When moving abroad, you need to declare funds so that they get there legally. It should be noted that at first a person may not ask such questions or may not understand the need for declaration. However, having found herself abroad and planning her residence there, she is faced with the fact that for the smooth implementation of many plans, funds had to be declared. For any large and serious financial transactions in Europe, the money must be in a bank account. And without a declaration from the border, not a single banking institution will accept them. This is the order if you are going to:

 

Become an investor abroad. For investments to be legal, the origin of the funds must be confirmed. By the way, it is participation in investment programs that helps foreigners obtain a residence permit in a number of countries. Therefore, if you are planning to travel abroad for a long time and have such serious plans, take care in advance to properly declare your currency values. Otherwise, even if you move funds abroad, you will not be able to use them there for such purposes.

 

Buy property. To carry out such large transactions, funds must also be in a bank account. In such situations, everything discussed above is relevant. Our lawyers can provide you with advice and support, including in matters of opening accounts abroad and purchasing real estate, and obtaining a residence permit or citizenship through investment is also in demand among our clients.

 

Start business. By the way, in some countries, starting a business is also a reason for obtaining a residence permit. If you have such plans, the lawyers of our law office will provide advice in this direction. We regularly accompany our clients when they open a business abroad, so we are aware of the legislation of different countries and can even advise on promising options for obtaining a residence permit in a particular country.

As you can see, any serious and significant manifestations of subjectivity in the legal and financial field of another country require a responsible attitude towards the currency values that you will use. This means you should take care of declaring them, otherwise you will be able to use your funds exclusively for accommodation and food.

How to declare money at the border?

To declare money in the manner prescribed by current legislation, you need to collect documents confirming income, as well as cash withdrawals from the bank. Our practice team knows that this is not always easy for clients – especially when it comes to savings that a person has saved for a long time from his income, and now plans to use them legally not only in Ukraine, but also abroad. So it is extremely difficult to do without legal support in such situations.

 

Providing legal support services in such requests, we focus on the following important areas:

  • We help with the selection of documents. The legislation contains general explanations, and we advise our clients on how its specific rules apply in practice in their particular case.
  • We explain step by step how currency values are declared when crossing the border. This helps our clients navigate and understand in what order and sequence they need to act.
  • We help with financial monitoring abroad. This allows you to feel confident in another country and know that there will be no unpleasant surprises with the legal use of your own funds.

If you want to obtain a residence permit in another European country, open a business there, become an investor or purchase real estate, take care of declaring foreign currency in advance. And high-quality legal support will help you. You will receive it from the team of the Prikhodko & Partners law office.

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1 question

Do you need legal advice on the procedure for taking cash abroad?

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No

2 question

Does the amount you plan to export exceed 10,000 euros?

Yes
No

3 question

Do you have documents confirming the origin of funds?

Yes
No
Yasinskiy Yevhen
Head of tax law practice

An expert in the practice of tax law, specializes in the protection of rights in court, corporate law.

Contact now
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