Questioned in the departure jetway "How much cash do you have" at IAH
Aug 23, 2014, 4:52 pm
#61
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Originally Posted by GUWonder
your last sentence above is incorrect and peddling an inaccuracy about India.
Also, don't rely upon the US Government's representations about foreign country's currency reporting and capital/currency control requirements. No harm in checking out state.gov, but don't count on it being always accurate.
Also, don't rely upon the US Government's representations about foreign country's currency reporting and capital/currency control requirements. No harm in checking out state.gov, but don't count on it being always accurate.
*All Indian currency is prohibited from being imported or exported out from the country by foreign travellers. Indian residents going on or returning from a holiday abroad can freely take or bring in up to Rs. 7500.
Source: http://india.visahq.com/customs/
Next, I checked the Indian Government's Customs Service site for Chennai Airport, and found this:
>> Export of Indian Currency is strictly prohibited. However Indian residents when they go abroad are allowed to take with them Indian currency not exceeding Rs. 7500.
Source: http://www.aircustomschennai.gov.in/customs_depart.html
Last edited by ESpen36; Aug 23, 2014 at 5:03 pm
Aug 23, 2014, 7:07 pm
#62
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Here is what I wonder.
What keeps a person from buying a diamond ring with 30 grand worth of diamonds, or a neck chain with a significant amount of value, etc. My girlfriend has a diamond ring worth 12 thousand dollars and she has never been asked to declare it and I doubt a competent security authority could say, "Well, a 9 thousand dollar ring is okay, but woah, that ring's worth 12 thousand dollars". It's not a negotiable instrument, but it can be quickly and easily be converted to cash, anywhere you can find a reliable jewelry broker. Sure, she might only get 11.5 thousand, but it's something that no legitimate customs operator could refuse entry based on it (and she has paperwork that proves that it's hers and bought in Canada).
C.
What keeps a person from buying a diamond ring with 30 grand worth of diamonds, or a neck chain with a significant amount of value, etc. My girlfriend has a diamond ring worth 12 thousand dollars and she has never been asked to declare it and I doubt a competent security authority could say, "Well, a 9 thousand dollar ring is okay, but woah, that ring's worth 12 thousand dollars". It's not a negotiable instrument, but it can be quickly and easily be converted to cash, anywhere you can find a reliable jewelry broker. Sure, she might only get 11.5 thousand, but it's something that no legitimate customs operator could refuse entry based on it (and she has paperwork that proves that it's hers and bought in Canada).
C.
Aug 23, 2014, 7:54 pm
#63
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Here is what I wonder.
What keeps a person from buying a diamond ring with 30 grand worth of diamonds, or a neck chain with a significant amount of value, etc. My girlfriend has a diamond ring worth 12 thousand dollars and she has never been asked to declare it and I doubt a competent security authority could say, "Well, a 9 thousand dollar ring is okay, but woah, that ring's worth 12 thousand dollars". It's not a negotiable instrument, but it can be quickly and easily be converted to cash, anywhere you can find a reliable jewelry broker. Sure, she might only get 11.5 thousand, but it's something that no legitimate customs operator could refuse entry based on it (and she has paperwork that proves that it's hers and bought in Canada).
C.
What keeps a person from buying a diamond ring with 30 grand worth of diamonds, or a neck chain with a significant amount of value, etc. My girlfriend has a diamond ring worth 12 thousand dollars and she has never been asked to declare it and I doubt a competent security authority could say, "Well, a 9 thousand dollar ring is okay, but woah, that ring's worth 12 thousand dollars". It's not a negotiable instrument, but it can be quickly and easily be converted to cash, anywhere you can find a reliable jewelry broker. Sure, she might only get 11.5 thousand, but it's something that no legitimate customs operator could refuse entry based on it (and she has paperwork that proves that it's hers and bought in Canada).
C.
Aug 24, 2014, 8:55 am
#65
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Cyprus still has capital controls in place with regard to taking money out of the country (and even wire transferring it out) - this is from the 2013 financial crisis. I believe that you are allowed to take no more than 3000 Euros (it may have been increased to 5000 recently, not sure) with you when you leave the country. You can bring in as much as you want. If you want to take it back out, I am sure you have to fill out some forms to prove that you brought it with you. People who have recently sold homes and are trying to transfer the sale funds to the UK have been going through plenty of hoops to get the transactions approved.
Aug 24, 2014, 9:11 am
#66
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I pulled up India and it says this on the site where you apply for a visa:
*All Indian currency is prohibited from being imported or exported out from the country by foreign travellers. Indian residents going on or returning from a holiday abroad can freely take or bring in up to Rs. 7500.
Source: http://india.visahq.com/customs/
Next, I checked the Indian Government's Customs Service site for Chennai Airport, and found this:
>> Export of Indian Currency is strictly prohibited. However Indian residents when they go abroad are allowed to take with them Indian currency not exceeding Rs. 7500.
Source: http://www.aircustomschennai.gov.in/customs_depart.html
*All Indian currency is prohibited from being imported or exported out from the country by foreign travellers. Indian residents going on or returning from a holiday abroad can freely take or bring in up to Rs. 7500.
Source: http://india.visahq.com/customs/
Next, I checked the Indian Government's Customs Service site for Chennai Airport, and found this:
>> Export of Indian Currency is strictly prohibited. However Indian residents when they go abroad are allowed to take with them Indian currency not exceeding Rs. 7500.
Source: http://www.aircustomschennai.gov.in/customs_depart.html
The website link you posted from an Indian governmental website also indicates how foreigners can take Indian currency out of India. Nepal and Bhutan are not states of India; and Nepalese citizens are foreigners in India when exiting India too.
Your earlier post's claim about India is inaccurate. See how it remains inaccurate?
Last edited by GUWonder; Aug 24, 2014 at 9:17 am
Aug 24, 2014, 9:20 am
#67
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Here is what I wonder.
What keeps a person from buying a diamond ring with 30 grand worth of diamonds, or a neck chain with a significant amount of value, etc. My girlfriend has a diamond ring worth 12 thousand dollars and she has never been asked to declare it and I doubt a competent security authority could say, "Well, a 9 thousand dollar ring is okay, but woah, that ring's worth 12 thousand dollars". It's not a negotiable instrument, but it can be quickly and easily be converted to cash, anywhere you can find a reliable jewelry broker. Sure, she might only get 11.5 thousand, but it's something that no legitimate customs operator could refuse entry based on it (and she has paperwork that proves that it's hers and bought in Canada).
C.
What keeps a person from buying a diamond ring with 30 grand worth of diamonds, or a neck chain with a significant amount of value, etc. My girlfriend has a diamond ring worth 12 thousand dollars and she has never been asked to declare it and I doubt a competent security authority could say, "Well, a 9 thousand dollar ring is okay, but woah, that ring's worth 12 thousand dollars". It's not a negotiable instrument, but it can be quickly and easily be converted to cash, anywhere you can find a reliable jewelry broker. Sure, she might only get 11.5 thousand, but it's something that no legitimate customs operator could refuse entry based on it (and she has paperwork that proves that it's hers and bought in Canada).
C.
It was more than a coincidence that big bankers show up at art shows to meet and advise clients on asset relocation and protection strategies, some of which have been subject to pursuit by USG criminal investigations. It's more than a coincidence that the major art dealers of the world happen to be at the OECD countries' major financial centers too.
Aug 24, 2014, 9:23 am
#68
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visahq.com sounds like a company rather than any government entity.
The website link you posted from an Indian governmental website also indicates how foreigners can take Indian currency out of India. Nepal and Bhutan are not states of India; and Nepalese citizens are foreigners in India when exiting India too.
Your earlier post's claim about India is inaccurate. See how it remains inaccurate?
The website link you posted from an Indian governmental website also indicates how foreigners can take Indian currency out of India. Nepal and Bhutan are not states of India; and Nepalese citizens are foreigners in India when exiting India too.
Your earlier post's claim about India is inaccurate. See how it remains inaccurate?
I admit that I was generalizing a little, but I think it is safe to say that the vast majority of our audience here on FT would not be exporting Indian currency to Nepal or Bhutan. It seems clear to me that this exception is designed to allow Indian citizens to support their relatives who live in neighboring countries. I would feel comfortable hypothesizing that a majority of Western tourist/business visitors to India fly in and out of India directly to/from a major international hub elsewhere in the world. Not Nepal or Bhutan.
So, let me try again: foreigners are prohibited from transporting Indian currency across the international border except in limited amounts to Nepal and/or Bhutan.
Last edited by ESpen36; Aug 24, 2014 at 9:29 am
Aug 24, 2014, 9:26 am
#69
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I admit that I was generalizing a little, but I think it is safe to say that the vast majority of our audience here on FT is comprised of people who are not citizens of either Nepal or Bhutan.
So, let me try again: for the overwhelming majority of foreigners entering/exisiting India, Indian currency cannot be moved across the international border. I would be glad to update my previous post to add "unless you are a citizen of Nepal or Bhutan."
So, let me try again: for the overwhelming majority of foreigners entering/exisiting India, Indian currency cannot be moved across the international border. I would be glad to update my previous post to add "unless you are a citizen of Nepal or Bhutan."
While India has some onerous controls -- at least in policy -- about trans-border INR currency movements, it doesn't mean that it prohibits "foreigners from importing or exporting ANY local currency in ANY amount". It restricts it but not to the point of strictly prohibiting "importing or exporting ANY local currency in ANY amount" by all foreigners.
Last edited by GUWonder; Aug 24, 2014 at 9:33 am
Aug 26, 2014, 9:54 am
#70
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Out of curiosity, has anyone ever declared more than $10,000 in cash entering or leaving the country and not gotten a lot of hassle? Like:
"I'm declaring $30,000"
"Why do you have that much money?"
"Buying/sold a car/property in another country"
"OK, go ahead."
Or is it usually a longer interrogation/inquiry than that?
"I'm declaring $30,000"
"Why do you have that much money?"
"Buying/sold a car/property in another country"
"OK, go ahead."
Or is it usually a longer interrogation/inquiry than that?
I think if your story is good and they don't think you're a drug smuggler, you'll be fine...
Aug 26, 2014, 10:16 am
#71
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The form and its explanation were linked above which answers these questions. @:-)
The form is required for leaving the US or entering the US with more than 10K.
"Declaring" in this context means filling in the form, not just telling your grandma or dentist or the guy in the jetbridge. If you haven't filled in the form, you haven't legally declared it, so it's undeclared.
If they ask you on the jetbridge and you "admit" that you have >10K, they're going check whether you've filled the form.
The form is required for leaving the US or entering the US with more than 10K.
"Declaring" in this context means filling in the form, not just telling your grandma or dentist or the guy in the jetbridge. If you haven't filled in the form, you haven't legally declared it, so it's undeclared.
If they ask you on the jetbridge and you "admit" that you have >10K, they're going check whether you've filled the form.
Remember that the $10,000 threshold for filing a report applies to the total of money in all currencies plus certain assets that are considered to be close substitutes for money. If this applies to you, you need to check the technical definitions of what is included for this purpose.
Jul 9, 2015, 10:43 am
#72
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CBP seizes $72,000 at IAD
http://www.washingtonpost.com/local/...0aa_story.html
Yet another example of why one should simply just declare the money. ALL the money. These folks actually declared they were carrying cash but were not honest about how much. The crime is in failure to report or misreporting. Perhaps they were trying to be clever.
Or perhaps they were confused or there was a language problem. Customs will usually will ask several times if your declaration is complete and accurate and will give several opportunities to amend the declaration before searching and seizing. There is nothing that lets us know how much the officers tried to explain the situation to the travelers.
In any event, a little more revenue enhancement for the CBP.
Yet another example of why one should simply just declare the money. ALL the money. These folks actually declared they were carrying cash but were not honest about how much. The crime is in failure to report or misreporting. Perhaps they were trying to be clever.
Or perhaps they were confused or there was a language problem. Customs will usually will ask several times if your declaration is complete and accurate and will give several opportunities to amend the declaration before searching and seizing. There is nothing that lets us know how much the officers tried to explain the situation to the travelers.
In any event, a little more revenue enhancement for the CBP.
Jul 9, 2015, 6:22 pm
#73
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The worst part about these incidents is the statement from the CBP official, who said the vast majority of forfeitures are of money personally earned by the travelers through hard work. He's as much as saying the confiscations are largely bogus.
Jul 9, 2015, 7:09 pm
#74
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CBP was doing this at DTW last December before a flight to CDG I was on. I think they caught someone because someone was denied boarding and we took a delay while they went to go find his checked bag 