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Intra-EU travels subject to national cash control measures

Intra-EU travels subject to national cash control measures

Old Aug 1, 2015, 9:51 am
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Intra-EU travels subject to national cash control measures

A reminder that travels between/amongst EU/EEA/Schengen airports, even if flying just within the EU, are subject to national cash control/declaration requirements for import/export.

Apparently this tripped up a famous American rap celebrity flying on a private jet from Italy to the UK:

http://www.reuters.com/article/2015/...0Q637W20150801

If you are planning to carry more than around 10,000 EUR or USD of value in any combination of currencies, even if going from Italy to France, and are crossing any national border, make sure to double check the transport/declaration requirements prior to the trip and count the cash and near equivalents carefully if not wanting to be subjected to asset seizure/fines.

So much for the EU having freedom of mobility for capital.

Last edited by GUWonder; Aug 1, 2015 at 10:33 am
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Old Aug 1, 2015, 5:44 pm
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Wonder if he declared taking that money out of the U.S.?
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Old Aug 2, 2015, 12:45 am
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Originally Posted by Boggie Dog
Wonder if he declared taking that money out of the U.S.?
According to his lawyer and according to what I assume to be applicable for this situation, "that money" was mostly not taken out of the US; rather, "that money" was mostly a product of his share of the cash proceeds from his European performances within recent weeks.
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Old Aug 2, 2015, 1:16 pm
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He just toured in Sweden.
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Old Aug 2, 2015, 2:39 pm
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Originally Posted by tanja
He just toured in Sweden.
Uppsala is where he played and then was detained late last month but not charged (as of yet, if ever) for suspected drug crimes. He also played in Copenhagen the night before his Uppsala event. He has been getting around and raking in the cash in various currencies.
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Old Aug 2, 2015, 2:51 pm
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Originally Posted by GUWonder
Uppsala is where he played and then was detained late last month but not charged (as of yet, if ever) for suspected drug crimes. He also played in Copenhagen the night before his Uppsala event. He has been getting around and raking in the cash in various currencies.
Yes I do know he got stopped in Sweden for "drugs".
Yes he has. But maybe his bank has no office in Sweden.
Who knows. I have accounts in both countries so I dont have to travel with more that $100 in cash.
Belive me that has not been populair either.
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Old Aug 2, 2015, 3:05 pm
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Originally Posted by tanja
Yes I do know he got stopped in Sweden for "drugs".
Yes he has. But maybe his bank has no office in Sweden.
Who knows. I have accounts in both countries so I dont have to travel with more that $100 in cash.
Belive me that has not been populair either.
US citizens resident only in the US commonly should try to avoid banking outside of the US; and where such US citizens try to bank overseas, things are more messy than ever before. This is because of the US Treasury/IRS requirements applicable to US persons and because of other USG rules used to push around foreign governments and foreign financial institutions.

That is to say, I doubt he maintains a personal bank account in most of the countries in which he plays. Just not worth the hassle, if the banks are even willing or able to put up with it.
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Old Aug 2, 2015, 3:16 pm
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Originally Posted by GUWonder
US citizens resident only in the US commonly should try to avoid banking outside of the US; and where such US citizens try to bank overseas, things are more messy than ever before. This is because of the US Treasury/IRS requirements applicable to US persons and because of other USG rules used to push around foreign governments and foreign financial institutions.

That is to say, I doubt he maintains a personal bank account in most of the countries in which he plays. Just not worth the hassle, if the banks are even willing or able to put up with it.
I do know above. However I had my swedish account since 1979. Dont work in either country.
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Old Aug 10, 2015, 2:36 pm
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Official references to intra-EU cash declaration seem to be vague and lacking. There is no mention on either of these EU or UK government websites. All information seems to pertain to cash entering or leaving the EU. The only reference that I could find to intra-EU declarations is in this FAQ, which then unhelpfully links back to the first link I provided.

It's certainly news to me that one would have to declare amounts over €10,000 when travelling within the EU.
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Old Aug 10, 2015, 2:48 pm
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Originally Posted by pilot007
Official references to intra-EU cash declaration seem to be vague and lacking. There is no mention on either of these EU or UK government websites. All information seems to pertain to cash entering or leaving the EU. The only reference that I could find to intra-EU declarations is in this FAQ, which then unhelpfully links back to the first link I provided.

It's certainly news to me that one would have to declare amounts over 10,000 when travelling within the EU.
The mobility rules have public interest/public security carve-outs that allow for national controls.
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Old Aug 10, 2015, 2:50 pm
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Originally Posted by GUWonder
The mobility rules have public interest/public security carve-outs that allow for national controls.
Yes, I'm familiar with that, but there's shockingly little in the way of official information on it. How is one to know what the rules are when many of those public websites make no mention of it?
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Old Aug 10, 2015, 3:00 pm
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Originally Posted by pilot007
Yes, I'm familiar with that, but there's shockingly little in the way of official information on it. How is one to know what the rules are when many of those public websites make no mention of it?
And the UK apparently has a different rule than Italy about international intra-EU money import/export.

https://www.gov.uk/bringing-cash-into-uk

Italy and France seem to march in a different way than the UK in this regard:

http://www.nytimes.com/2013/11/04/wo...alth.html?_r=0

Indications of the Italian rule not distinguishing between international intra-EU transfers and international non-EU transfers is here:

http://vademecumitalia.com/limit-to-...cash-to-italy/

Last edited by GUWonder; Aug 10, 2015 at 3:08 pm
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Old Aug 10, 2015, 3:37 pm
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Originally Posted by GUWonder
A reminder that travels between/amongst EU/EEA/Schengen airports, even if flying just within the EU, are subject to national cash control/declaration requirements for import/export.

Apparently this tripped up a famous American rap celebrity flying on a private jet from Italy to the UK:

http://www.reuters.com/article/2015/...0Q637W20150801

If you are planning to carry more than around 10,000 EUR or USD of value in any combination of currencies, even if going from Italy to France, and are crossing any national border, make sure to double check the transport/declaration requirements prior to the trip and count the cash and near equivalents carefully if not wanting to be subjected to asset seizure/fines.

So much for the EU having freedom of mobility for capital.
You are talking about cash and not on cards.?
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Old Aug 10, 2015, 8:37 pm
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Originally Posted by tanja
You are talking about cash and not on cards.?
He is talking about cash, though in Italy they will also consider many type of bank checks/cheques and certain other bearer instruments as well (as do several countries).

Credit cards do not come into play 99% of the time (note I did not say 100%).
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Old Aug 11, 2015, 3:39 pm
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Originally Posted by tanja
You are talking about cash and not on cards.?
Cash, always. Generally not cards, if you mean credit/debit cards with the bearer's name on them; but it may depend on the country.

It's always cash for countries that have (whether coerced or not) bought into the OECD FATF's "recommendations"; and often its some other kind of financial instruments too. While some kind of cards have come on the radar for customs and other anti-money-laundering authorities, not commonly an issue like cash is.
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