Controls on cash entering or leaving the European Union (EU)
Every natural person entering or leaving the EU and carrying cash equal to or greater than 10.000,00 euros (or its equivalent in other currencies), is obliged to declare this amount of cash to the competent Authorities of the EU Member States through which he/she enters or exits the EU (according to the Regulation (EU) 2018/1672). The term “cash” includes, besides currency, negotiable instruments payable to the bearer, as well as commodities used as highly liquid means of storing value, such as:
a) coins with a gold content of at least 90%
b) bullion such as bars, nuggets or clumps with gold content of at least 99,5%.
In cases of unaccompanied cash movement with a total value equal to or exceeding 10.000,00 euros enter or leave the EU, the competent authorities of the Member States may require, systematically or on a case-by-case basis, the sender or the recipient, or their representative, to submit a disclosure declaration within a period not exceeding thirty (30) days, according to the aforementioned Regulation. In Greece, the control of the movements of cash or its equivalent have been assigned to the Customs Authorities.
The cash declaration of accompanying cash consists of completing the relevant forms provided by the Customs Authorities at the entry or exit point from the EU, and subsequently submitting them, signed, to these Authorities by the traveler, who has the right to ask and receive a certified copy of them. The same also applies in the case of cash disclosure for unaccompanied cash.
Until today, the above declarations are submitted in handwritten form to the Greek Customs Authorities. However, the Independent Authority for Public Revenue (AAΔE) is currently in the process of developing an Electronic System for the submission of Declarations of Cash Movements. The implementation is expected to be completed within the first quarter of 2024.
In the event of non-compliance with the obligation to submit the above declarations or submission of deficient or inaccurate declaration, an administrative fine is imposed, which is immediately payable, equal to the 25% of the amount of the non-declared accompanied or unaccompanied cash. Additionally, the entire undeclared cash amount can be seized, and the case may be referred to the Hellenic FIU (Financial Intelligence Unit) for further investigation.
The website at community level is: Cash controls