When travelling abroad with cash, for an amount equal to or greater than 10,000.00 euros, it is necessary to file the “Declaration of movement of means of payment” form S-1. In the case of journeys within the national territory, the amount is 100.000,00€. This declaration must also be submitted in the case of foreign currency or easily convertible assets, bearer cheques, traveller’s cheques, etc.

The declaration can be filed at the Electronic Headquarters of the Tax Agency, in its Customs Department. The declaration submitted must accompany the cash movement. Failure to comply with the obligation to make the declaration, can lead to a penalty ranging from 600.00 € to 50% of the cash transported.