Currency Declaration in Colombia
#1
Original Poster
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Currency Declaration in Colombia
I have heard many conflicting reports about this.... I know that Colombia is facing a difficult struggle against the drug industry, which has had an impact on currency controls.
Standard currency declarations are that you declare whatever cash/equivalent you have if it is over a certain threshold (say $10k).
In Colombia, according to at least some reports in the past, you could neither enter nor leave with over $10k (excess was confiscated). I heard of a $3k limit at some point.
I called the Colombian embassy and was told that one simply had to declare anything over $10k, no other problems bringing it in our out. I know that this is the embassy and should be the official source, but they had to go and check, and it is possible that things do not really work that way....
Would be glad to hear if anyone has had any experience of this, or knows if it is really as simple as filling in a declaration form and answering some questions from the customs guys.
D.
Standard currency declarations are that you declare whatever cash/equivalent you have if it is over a certain threshold (say $10k).
In Colombia, according to at least some reports in the past, you could neither enter nor leave with over $10k (excess was confiscated). I heard of a $3k limit at some point.
I called the Colombian embassy and was told that one simply had to declare anything over $10k, no other problems bringing it in our out. I know that this is the embassy and should be the official source, but they had to go and check, and it is possible that things do not really work that way....
Would be glad to hear if anyone has had any experience of this, or knows if it is really as simple as filling in a declaration form and answering some questions from the customs guys.
D.
#2
Join Date: Jan 2017
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This is the form I used for years traveling in and out of BOG. http://www.dian.gov.co/descargas/For...015_ingles.pdf
I haven't been there in a couple of years though.
I've never carried 3k or more in cash, but I've also never been asked by a customs officer.
BTW, ATM cards work fine and most places take credit cards at least in the big cities.
I haven't been there in a couple of years though.
I've never carried 3k or more in cash, but I've also never been asked by a customs officer.
BTW, ATM cards work fine and most places take credit cards at least in the big cities.
#3
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It's $10K. I flew in there once with $8000 in cash. They asked me if I have any cash, I told them, they counted it and I was on my way. Though at this point, I stopped caring so much cash and do wire transfers for any significant amounts.
#5
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What worries me is wether the 10k is a hard limit or simply "declare above this limit".
I guess I'll try a few more calls, perhaps to COlomobia - customs there...
I guess I'll try a few more calls, perhaps to COlomobia - customs there...
#6
Join Date: Nov 2010
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The purpose behind the law, of course, is to combat money laundering. Even if you wire transfer money in, you have to show some evidence that its source is legal. I don't know if this is true for all banks, but any time I wire more than $5K USD to Bancolombia I have to show them evidence of its source before they release it to me. In that case though, they except a printout of either salary statements, retirement accounts or loans. I would bet that customs officials would require something more substantial, like notarized documents.
If you do find out something more definite, please post here, as I'm sure it would help many others.
#7
Join Date: Feb 2017
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To every country I've been to so far the rule is the same on every customs form: You must declare any cash in an amount larger than $10,000 USD. Although I'm not sure why you would need to carry that much cash on you when you can withdraw money from an ATM or wire yourself money if need be.
#8
To every country I've been to so far the rule is the same on every customs form: You must declare any cash in an amount larger than $10,000 USD. Although I'm not sure why you would need to carry that much cash on you when you can withdraw money from an ATM or wire yourself money if need be.
#9
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Even if you have less than $10,000 they will still take a very hard look at you. I never travel with more than $300. Unless you want to be tied up in knots either leaving the country or upon arrival in Europe or North America, don’t do it.
#10
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#11
I have no issue declaring cash upon return in europe, nor with declaring to colombian authorities as it is legally earned and officialy exchanged. What I care about is the actual rules on how to do this leaving colombia (I have previously left with 8-9k dollars when i travelled by-weekly but the recent 2 months of closed borders made it much more difficult.
#12
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Buying foreign currency at 20-25% below official bank rate can hardly be legit. No wonder the Colombian authorities will seize such large cash amounts should there be an opportunity to do it.
#13
it is perfectly legitimate. Even at BOG airport the rates for exchanging dollar are usually 3100 sell and 3400 buy whilst actual usecop official rate is 3780 as of now. Country is flooded with foreign currency and demand for local money is stronger than official exchange rate. Opposite of what my mate is seeing in Lebanon, where official exchange is 1500 but if you can bring usd in you can get 7500. Think of the airline tickets you could buy in local currency with 5x discount
#14
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??
That doesn't sound right. Are you telling me that I can withdraw COP in an ATM using my VISA or MC (which I will have to pay for on the basis of the official exchange rate + a mark-up of 2-4%) and then buy USD (or EUR) in CO at a lower rate?
That doesn't sound right. Are you telling me that I can withdraw COP in an ATM using my VISA or MC (which I will have to pay for on the basis of the official exchange rate + a mark-up of 2-4%) and then buy USD (or EUR) in CO at a lower rate?
#15
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You can absolutely do that, but not through a channel that legally records the transaction. As I noted in a previous post, there are a lot of dollars and Euros in Colombia that were earned through drug trafficking. The owners of that cash have few options for turning them into clean pesos that can be spent in Colombia and so offer them at a substantial discount. It is all under the table of course. If you're smart you will stay away from that, as it could come back to bite you in your home country.