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New cash controls when travelling to or from the EU

Please note that the information herein is of a general nature and you should not act or refrain from acting on it without professional advice on the specific facts of your case. No liability is accepted by the author or Sykes Anderson Perry Limited in respect of this article. Law is a complex subject and the above is a basic outline only and is intended only as a general guide.

The 2016 Cash control proposal has now been adopted by the Council.

The Council has confirmed that it has now adopted the 2016 proposal on cash control. The new legislation states that that anyone travelling to or/from the EU to a third state with more than 10,000€ in cash must declare to customs the amounts that they are travelling with.

The legislation also redefines the concept of cash. Traveller’s cheques, prepaid cards and cash sent by post or courier amongst others will be considered as cash.

The legislation also contemplates the exchange of information between member estates when there is suspicion of criminal activity.

With Brexit fast approaching it will be interesting to see the position that the UK government will adopt once they leave the EU

October 2018
Alvaro Aznar Azcárate
Solicitor and Spanish Abogado
Sykes Anderson Perry Limited