Luxembourg's Customs and Excise Agency (Administration des douanes et accises) has recalled that anyone bringing a sum of cash of €10,000 or more into or out of the Grand Duchy must declare this at customs.
Following the entry into force on 3 June 2021 of Regulation (EU) 2018/1672 providing for an update of the rules to be observed when a sum of €10,000 or more crosses borders outside the European Union (EU), the law of 16 July 2021 imposing controls on cross-border cash transportation completes this legal framework.
Any movement of cash of €10,000 or more crossing a border to or from Luxembourg must be declared to the Customs and Excise Agency.
The law maintains the obligation to declare the transportation of cash from a sum of €10,000.
While this obligation already applied to cash and negotiable bearer instruments, it now also applies to coins in gold (90% gold) and unminted metal (99.5% gold) when the value exceeds the value of €10,000.
The importation of jewellery and diamonds is not included in the legal definition of cash, but must be declared separately by means of a customs declaration.
The declaration of cash must be filed with the Customs and Excise Agency prior to travel or when crossing the border.
Another change to the law concerns cash sent by express mail, post or freight which, henceforth, must be the subject of a disclosure declaration.
The Customs and Excise Agency continues to monitor the obligation to declare and disclose cash and has recalled that non-compliance with these obligations is punishable by a fine of €251 to €25,000 as well as a possible partial confiscation of the money.
Further information as well as the various declaration and disclosure forms can be found on the website of the Customs and Excise Agency: www.douanes.public.lu.