A. Passengers travelling to or from third countries or other member states of the European Union
1. Legal provisions
Any person entering or leaving the Republic of Cyprus and having in his/her possession cash or gold of a value equal or greater than € 10.000 (ten thousand euro), is obliged to declare this sum or gold to Customs.
Both the Regulation and the Law aim at assisting the efforts made at EU level, to tackle the phenomenon of criminality by combating money laundering and terrorism financing.
- Regulation (EC) no. 1889/2005 of the European Parliament and of the Council of 26 October 2005 on controls of cash entering or leaving the Community.
- The Control of Cash Entering or Leaving the Community and the Exercising of Intra - Community Cash Controls Law No. 53(I) of 2009.
3. Who must make a declaration
A declaration should be made by any person entering or leaving the Republic of Cyprus at the entry or exit points of the Republic of Cyprus who caries:
4. Where the declaration should be made
The declaration should be completed by the passenger and submitted to Customs at the control point through which the passenger enters or leaves the Republic of Cyprus.
5. What are the consequences in case of failure to declare or of an uncompleted or false/untrue declaration?
- An amount equal or greater than €10.000 (ten thousand euro) in cash; or the equivalent amount in other currency or easily convertible assets, (e. g. bonds, shares, traveler’s cheques…), or
- Gold of value equal or greater than € 10.000 (ten thousand euro). (“Gold” means gold pounds, gold coins and bars or rods of gold of international standards, but does not include gold used for commercial of industrial purposes.).
In such case:
The Director of Customs & Excise has the authority to compound the offence committed.
- Declaration for controls of cash entering or leaving the Republic of Cyprus under Reg. 1889/2005, art.3(2) and Law 53(I)/2009, art. 4.
7. Further Information
For more information, you may write to the following address.
- The passenger commits an offence,
- The cash or gold will be seized; and
- The traveler is liable to a fine not exceeding €50.000 (fifty thousand euro), upon investigation of the case.
last updated 10/2/2020