The Cyprus Customs Department recently issued clarifications on the rules and regulations concerning the declaration of cash when entering or leaving the Republic of Cyprus.
Key points to remember:
- Declaration Threshold: All passengers entering or leaving Cyprus must declare cash if it equals or exceeds €10,000. This applies to everyone, including those traveling from or to other EU member states.
- Verification Process: Passengers carrying large sums must be prepared to present the cash for inspection and counting by customs officials.
- Information Sharing:
- After verification, customs sends all declarations to the MOKAS (Money Laundering and Terrorist Financing Unit).
- Declarations for amounts of €100,000 or more are also sent to the Cyprus Police for potential further investigation.
Important Note:
- The declaration requirement applies to all currencies, including euros, other foreign currencies, and travelers’ cheques.
- Failure to declare cash above the threshold could result in penalties and legal consequences.
For more information and detailed guidelines, please refer to the official website of the Cyprus Customs Department:
https://www.mof.gov.cy/mof/customs/customs.nsf/index_en/index_en
