Hong Kong Customs recently announced that those who transit in Hong Kong with a large amount of cash should make a declaration, or they will be fined 500,000 HKD in maximum (about 63706.4 USD) and will be imprisoned for 2 years.
© Image | HKCustoms
Strict Punishment
Hong Kong Customs indicated that the new rule will be put into effect from 16th July in order to fight against illegal activities, such as money-laundering and cross-border funding.
© Image | Google
Anyone who enters Hong Kong with the cash, cheque or bond of a total value over 120 thousand HKD(about 101 thousand RMB or equivalence in foreign currency) should make a declaration, or he or she will be considered the violation of law and will be fined 500 thousand HKD in maximum (about 63706.4 USD) and be imprisoned for 2 years.
① Items of Cash
Items of cash indicates
Paper currency or coins that belong to legal tender
Transferable bills, such as traveler’s cheque, bearer cheque, promissory note, blank bond, bill of exchange or postal note.
② Declaration Form
Declaration form can be attained in every port of Hong Kong or can be downloaded from the official website of Hong Kong customs as soon as the rule takes effect.
In addition, it is worth noting that individuals under 16 years old along with you and with over 120 thousand HKD, declaration should also be made or will be considered the violation of rule.
© Image | HKImmigration
Besides, the import and export items of cash in the same batch should be declared electronically in advanced thorough the declaration for items of cash system.
Notice
No matter which control point, station, dock, international airport or port you arrive in, you should choose the Red Channel and declare to the customs if you bring a large amount of cash along with you.
© Image | Google
In terms of travelers, air transshipment cargos, transit cargo and mail that transit in Hong Kong International Airport, declaration is not required.
🔗 How Much Money Can I Bring When Entering China?
Declaration Policy in Macau
If you enter Macau with 120 thousand MOP$ or above, you should declare to customs officers, fill the declaration form and choose the Red Channel; you should also make declaration when exiting Macao if you are inquired by customs officers.
© Image | Google
Otherwise, you will be fined from 1000 to 500,000 MOP$. Additionally, anyone who refuse to pay the fine will be refused to enter Macau, and there is no need for travelers of temporary stopover to declare.
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Source: HKCustoms
HACOS,Business Services Solutions Master