After Cuban Customs announced this week that it was tightening its controls on the amount of money that can be taken in and out of the island, we remind you that this is the authorized cash limit according to the latest update.
A few days ago, a senior Customs official detailed on the social network X that controls had been increased due to the rise in attempts to traffic in foreign currencies such as US dollars, euros and Canadian dollars, but especially the former.
According to reports, Cuba’s General Customs Office has tightened restrictions at entry and exit points in the country after registering an increase in attempts to withdraw foreign currency without the corresponding authorization. Hundreds of people are trying to take cash out of the island, exceeding the permitted limits.
In recent months, several travelers have been detained, especially at airports, for attempting to transport sums exceeding 5,000 dollars, euros or their equivalent in other currencies, in violation of the regulations of the Central Bank of Cuba (BCC).
Bank Resolution No. 124/2020 is the main regulation governing the entry and exit of foreign currency (MLC) for natural persons.
Customs and the limit of money allowed to enter and take out of Cuba
You probably remember the case of a Cuban woman who made 45 trips between Cuba and the United States in less than a year and was arrested in Tampa for hiding more than $100,000 in cash. Today we will explain how much money you are allowed to bring to Cuba.
According to the BCC, the importation of foreign currency into Cuba is free and can be done in cash, checks, bills of exchange, promissory notes or other payment instruments or credit securities commonly used in international banking.
However, only up to five thousand US dollars (5000 USD) or its equivalent in other currencies MLC are allowed into Cuba. If the amount you carry when entering or leaving the country exceeds this limit, it is mandatory to declare it to the officials of the General Customs of the Republic.
When leaving Cuba, you are allowed to freely export up to five thousand US dollars (5000 USD) or its equivalent in other currencies MLC. If you carry a larger amount, you will need to request authorization from the president of the bank.
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Table of Contents
Cuba Tightens Controls: Authorized Cash Limit for Entry and Exit Explained
In response to a surge in foreign currency trafficking attempts, Cuban Customs has announced stricter controls on the amount of money that can be brought into and taken out of the island. As a result, it’s essential to understand the authorized cash limit for entry and exit, as outlined in the latest update from the Cuban authorities.
Rise in Foreign Currency Trafficking Attempts
According to a senior Customs official, the increased controls are a direct response to the growing number of attempts to traffic in foreign currencies, particularly US dollars, euros, and Canadian dollars. This illegal activity has led to the detention of hundreds of individuals, especially at airports, for trying to transport sums exceeding the permitted limits.
Bank Resolution No. 124/2020: Understanding the Regulations
The Central Bank of Cuba (BCC) regulates the entry and exit of foreign currency through Bank Resolution No. 124/2020. This resolution outlines the rules and guidelines for natural persons to import foreign currency into Cuba. It’s essential to familiarize yourself with these regulations to avoid any issues when traveling to or from the island.
Authorized Cash Limit for Entry and Exit
So, how much money are you allowed to bring to Cuba? According to the BCC, the importation of foreign currency into Cuba is free, and you can bring:
Up to 5,000 dollars, euros, or their equivalent in other currencies without declaration
Amounts exceeding 5,000 dollars, euros, or their equivalent require a declaration
Failure to declare or exceeding the permitted limits can result in severe consequences, including detention and confiscation of the undeclared amount.
Notable Case: The Cuban Woman Who Made 45 Trips to the US
You may recall the case of a Cuban woman who made 45 trips between Cuba and the United States in less than a year, only to be arrested in Tampa for hiding over $100,000 in cash. This incident highlights the importance of adhering to the regulations and authorized cash limits to avoid any legal issues.
What You Need to Know Before Traveling to Cuba
Before planning your trip to Cuba, it’s crucial to understand the authorized cash limit and regulations governing foreign currency importation. Here are some key takeaways:
Up to 5,000 dollars, euros, or their equivalent can be brought into Cuba without declaration
Amounts exceeding 5,000 dollars, euros, or their equivalent require a declaration
Failure to declare or exceeding the permitted limits can result in severe consequences
Bank Resolution No. 124/2020 outlines the rules and guidelines for foreign currency importation into Cuba
By familiarizing yourself with these regulations and authorized cash limits, you can ensure a hassle-free trip to Cuba and avoid any legal issues.
Stay Informed and Plan Your Trip with Confidence
In light of the tightened controls, it’s more important than ever to stay informed about the authorized cash limit and regulations governing foreign currency importation into Cuba. With this knowledge, you can plan your trip with confidence and avoid any unnecessary complications.
Remember, it’s always better to err on the side of caution and declare your cash accurately to avoid any issues with Cuban Customs. Happy travels!
Cuba Tightens Controls: Authorized Cash Limit for Entry and Exit Explained
In response to a surge in foreign currency trafficking attempts, Cuban Customs has announced stricter controls on the amount of money that can be brought into and taken out of the island. As a result, it’s essential to understand the authorized cash limit for entry and exit, as outlined in the latest update from the Cuban authorities.
Rise in Foreign Currency Trafficking Attempts
According to a senior Customs official, the increased controls are a direct response to the growing number of attempts to traffic in foreign currencies, particularly US dollars, euros, and Canadian dollars. This illegal activity has led to the detention of hundreds of individuals, especially at airports, for trying to transport sums exceeding the permitted limits.
Bank Resolution No. 124/2020: Understanding the Regulations
The Central Bank of Cuba (BCC) regulates the entry and exit of foreign currency through Bank Resolution No. 124/2020. This resolution outlines the rules and guidelines for natural persons to import foreign