Attorney
An expert in the practice of tax law, specializes in the protection of rights in court, corporate law.
Export of currency across the border
The importance of legally taking currency abroad is obvious to everyone who wants to leave with their own financial savings. The legislation establishes the amount of funds that can be taken abroad without declaration. It should be up to 10 thousand euros. Larger amounts must be fixed and declared in full. If you want to receive high-quality legal support in this matter, contact the team of the Prihodko&Partners law office. We will help to understand the procedure of taking funds abroad in accordance with the requirements of current legislation.
Why is it necessary to declare funds and legalize them in Europe?
In order to buy real estate and cars in Europe, invest or carry out other large-scale financial transactions, the legal origin of the funds must be confirmed. Otherwise, the foreigner will be able to use the exported cash exclusively for his own household needs.
That is why the possibility of their free use in Europe further depends on the correctly conducted procedure of declaring funds. Competent decisions and actions in these matters become a guarantee that a person who owns material assets and takes them abroad feels full financial subjectivity there, and not just the ability to use his own funds for small-scale transactions.
If funds are exported illegally, this entails a number of legislative risks – both from the point of view of Ukrainian and European legislation. The Customs Code of Ukraine and the Law “On Currency and Currency Transactions” carefully regulate this issue. Currently, only a fine of 1,700 hryvnias is provided for the export without declaration of a larger amount than the current legislation allows. However, in practice, there are often cases when the surplus is confiscated, and the person who transported the cash has to defend his rights in court. Even the first-instance courts often decide in favor of customs officials, and it is only through further appeals that the case can be won. Therefore, we advise you to get individual tax advice from a lawyer to avoid unpleasant situations at the border.
Therefore, taking into account all of the above, it will be much more expedient to immediately take care of compliance with the norms of current legislation when taking currency abroad, than to face numerous problems later and have to defend yourself in court.
How does the declaration procedure take place?
The Government Resolution of February 27, 2019 regulates the way in which currency values are moved across the border. It is in this Decree that you can see a sample of the declaration form that must be filled out by a person for the transportation of currency values. Such a form is also called a declaration of cross-border movement.
The resolution contains information that the form can be produced by the person who needs it. The dimensions of the form should be equivalent to an A4 sheet – i.e. 210 by 296 mm. This means that the form can be printed and filled in ahead of time. You can also contact the DPS for it. In order to fill out the form correctly, you should contact specialists who specialize in this matter. You will meet them in our law firm.
In addition to the declaration itself, a package of documents confirming the legality of the origin of the funds is also important. For example, it may be about bank statements regarding the withdrawal of funds from one’s own accounts or the purchase of bank metals. The situation with the declaration of funds is much more complicated if, for example, they are received from the sale of an apartment or vehicle, or as a gift. However, our specialists know what to recommend to clients in such cases, depending on the specifics of the specific situation.
It is also important to know that bank documents confirming the origin of funds are valid for a limited time.
Declaration of funds that are taken out for the child
When it comes to family crossing the border, clients often have questions about whether it is possible to take money out for a child. Yes, the answer is yes, and the amount should also be no more than 10 thousand euros. In practice, it looks as follows – a family of 3 people can export no more than 30,000 euros. If the funds transferred to a minor are larger, the guardian must issue a declaration.
How will our services be useful?
Lawyers of the law firm “Prikhodko&Partners” are ready to help in the matter of declaration of currency values. We offer the following services:
- consulting, which will give you the opportunity to get answers to all your questions regarding the legal regulation of currency export;
- legal support of preparation for the legal movement of currency values across the border;
- representation of interests in court, if the rights and legitimate interests of our clients are violated.
You can fill out the feedback form on our website and a lawyer will contact you to help.
Calculate the cost of services
1 question
Are you planning to take money abroad?
2 question
Do you need a lawyer's advice on the rules for taking cash abroad?
3 question
Does the amount you plan to export exceed $10,000?
Is it possible to get a lawyer's consultation online if it is not possible to come to the office?
Of course. We provide consultations both online and in the office. Online consultation is possible in any convenient way for the client. It can be a video call through a convenient messenger or a video conference format.
Where to complain to the tax office?
You can appeal the decision of the tax office in the district administrative court. We provide full support for tax disputes. If you need legal support that will give results – leave a request on our website.
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