New rules for the transfer of money across the border

In the countries of the Eurasian Economic Union (EAEU), new rules for the transportation of cash across the border have come into force, which will apply to individuals.

It is necessary to declare the transported funds (when their amount exceeds 100 thousand dollars) and be able to confirm their origin.

The Federal Customs Service notes: the requirement applies to checks, promissory notes, unnamed securities that are subject to cashing.

To explain the origin of funds, it will be necessary to submit bank documents on conversion operations, withdrawal of funds from the account, obtaining a loan or documents that confirm the commission of civil transactions (inheritance or gift).

The EAEU decided to introduce new rules in August 2019: they should help stop the movement of cash that could be used to finance terrorism or launder criminal proceeds.

The EAEU includes Russia, Armenia. Belarus, Kazakhstan. Kyrgyzstan.

Source: ria