Travellers in and out of Hong Kong will need to declare if they are carrying more than HK$120,000 (US$15,300) in cash, after a new law to tackle dirty money comes into force in mid-July. Failure to declare is punishable by a maximum of two years in prison.
Travellers in and out of Hong Kong will need to declare if they are carrying more than HK$120,000 (US$15,300) in cash, after a new law to tackle dirty money comes into force in mid-July. Failure to declare is punishable by a maximum of two years in prison and a HK$500,000 fine.
1. Anyone in possession of a large quantity of currency or bearing negotiable instruments valued at more than HK$120,000 arriving in Hong Kong via one of several specified control points must make a written declaration to customs.
These points are Lo Wu, Hung Hom Station, Man Kam To boundary, Sha Tau Kok boundary, Hong Kong-Macau Ferry Terminal, China Ferry Terminal, Lok Ma Chau boundary, Hong Kong International Airport, Tuen Mun Ferry Terminal, Shenzhen Bay Port Hong Kong port area, Lok Ma Chau Spur Line, Kai Tak Cruise Terminal and Ocean Terminal.
2. Customs will use the ‘red and green aisle for customs clearance. Anyone who has cash, cheques or bonds of a total value over 120 thousand HKD (about 102,000 Yuan) or equivalent foreign currency, must be written in the main action when entering the country, must go through the red aisle.
3. Hong Kong custom will set a grace period of 3 months from July 16th to October 15th, and customs will give written warning to passengers if they do not commit any initial offense. Initial offenders have to pay a fine of HK $2000 to the customs without criminal prosecution, but if there is a second time, offenders will be brought to the court. Maximum fines can be 500 thousand Hong Kong dollars and two years in prison.
Declaration forms can be downloaded from the official website (www.customs.gov.hk) of Hong Kong customs or attained in every Hong Kong port.
For the import and export items of cash in the same batch, an electronic declaration must be made in advance to customs.
If you enter Macau with 120 thousand MOP$ or above, you should declare this to customs officers, fill in the declaration form and choose the Red Aisle; you should also make a declaration when exiting Macao if you are inquired by customs officers.
Otherwise, you will be fined from 1000 to 500,000 MOP$. Additionally, anyone who refuses to pay the fine will be refused entry to Macau, but there is no need for travelers of temporary stopover to declare.
Customs officers will work with sniffer dogs. Specially trained money-hunting dogs can distinguish the concentration of banknote inks. If they find a large amount of cash, officers will stop the travellers and check their luggage.
Anyone who plans to take a large amount of cash to Hong Kong or Macau don’t forget to make a declaration in advance.
