Crossing the border with cash
Within the framework of the combat against money laundering, the EU has had
rules since 2014 that oblige you to declare the 'liquid assets' that you carry
with you when you cross the border. Declaration is mandatory as soon as you have
more than 10.000€ in cash with you. The existing regulation was further
tightened in 2021.
Entering or leaving Europe
We must distinguish between roaming within the EU and crossing the EU's external
borders (such as from the United Kingdom, Switzerland, the US,
).
When you cross the external borders of the EU regardless of whether you enter
or leave the EU you must complete a 'cash declaration' as soon as you have
10.000€ or more in your pocket. This does not only concern cash in the form of
euro notes, but also its equivalent in other currencies, bonds, shares or
travellers' cheques.
Customs is authorized to check you at the border and, in the event of
non-declaration, to take the liquid assets found into custody.
On 3 June 2021, the rules became even stricter.
Firstly, the concept of
'liquid assets' was expanded. From now on, you must also submit a 'cash
declaration' if you transport valuable objects with a value of 10.000€ or more
when entering or leaving the EU. After all, since 3 June, the declaration
obligation applies to:
banknotes and coins (including expired currency that can still be exchanged at a
financial institution)
banknotes and coins (including expired currency that can still be exchanged at a
financial institution)
bearer negotiable instruments, such as cheques, travellers' cheques, promissory
notes and money orders
gold coins with a gold content of at least 90%
gold bars or nuggets with a gold content of at least 99.5%.
Secondly, Customs can ask you to submit a 'cash release declaration' if they
discover that you have sent 'unaccompanied cash' worth 10.000€ by post, freight
or courier. That declaration must be made within 30 days by the recipient, the
sender or an appointed representative of both.
Finally, Customs can now also intervene if there are indications that the cash
is related to criminal activities. Even if the traveler carries less than
10.000€.
Crossing the Belgian borders
Even when you stay in the EU, you may have to file a declaration. If you enter
Belgium or leave Belgium from or to another EU Member State, you will now have
to declare liquid assets as from a value of 10.000€ if requested by customs.
So-called 'unaccompanied liquid assets' (for example by post) must also be
declared if requested by customs.
However, this obligation to declare only applies to cash and bearer negotiable
instruments. Gold should not be declared.
Just like when crossing the external borders of the Union, Customs can also
request a declaration if the value of the liquid assets is less than 10,000€
when there is a suspicion of criminal activity.
Violations can lead to the confiscation of the money, but this confiscation can
only last 14 days.
The new Belgian scheme is applicable as from 4 September 2021.