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The EU has brought new regulations on cash import and export

20 June 2007
Written by: admin Posted under General

According to new regulations, people coming and leaving the European Union have to declare cash from €10 thousand and more.
Regulations have come into force on Friday, June, 15, and will have force in all European Union member-countries.
Since June, 15 customs services of EU member-countries have the right to seize the cash over €10 thousand in the case if the owner will not give the forcible arguments, explaining transportation of such amount of money.
Till now border services of 27 countries of the EU independently put restrictions on import and export of the cash.
Travelers have invented a set of original ways to transfer big sums of cash. In Germany last year only on the border with Switzerland border officers seized €60 million from the persons coming into the EU. Requirements of new regulations are spread on all currencies in an equivalent of €10 thousand and more.
Inside the European Union country will keep the right to set independently on cash import and export.



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