Traveler must inform competent authorities if he carries more than SR60,000 upon arriving, departing KSA
The Public Prosecution stated on Wednesday that every traveler coming to or leaving Saudi Arabia and carrying more than SR60,000 must submit a declaration to competent authorities in this regard.
The Public Prosecution clarified that the decision to require travelers to disclose to the competent authority at the border crossings of Saudi Arabia not only includes the financial amounts, but everything that amounts to SR60,000 or more, whether the traveler arranges to transport them outside or inside the Kingdom by any means.
The items that may have a value of more than SR60,000 include: Coins, bearer negotiable instruments, gold bars, precious metals, precious stones, or wrought jewelry.
Every person must submit a declaration to the Zakat, Tax and Customs Authority (ZATCA) if he is going to transport these items inside or outside Saudi Arabia through a shipping, transport, postal service or any other means, the Public Prosecution said.
It noted that even the items that are equivalent to or exceeds SR60,000 in foreign currencies need to be declared.
ZATCA has the right to request from the person holding the equivalent of this amount additional information about the source of the items, or the purpose of its use.
The Public Prosecution has also added that ZATCA has the right to seize the amount of currency from the traveler, bearer negotiable instruments, gold bars, precious metals, precious stones or the jewels for a period of 72 hours if it is suspected that they are proceeds or are related to a money laundering crime or a predicate crime.
In addition, the seizures that ZATCA is entitled to confiscate, includes the cases of amounts that do not reach the SR60,000 limit, as well as cases of non-declaration or false declaration in accordance with Article (23/1.2) of the Anti-Money Laundering Law in the Kingdom.
The items that may have a value of more than SR60,000 include: Coins, bearer negotiable instruments, gold bars, precious metals, precious stones, or wrought jewelry.
Every person must submit a declaration to the Zakat, Tax and Customs Authority (ZATCA) if he is going to transport these items inside or outside Saudi Arabia through a shipping, transport, postal service or any other means, the Public Prosecution said.
It noted that even the items that are equivalent to or exceeds SR60,000 in foreign currencies need to be declared.
ZATCA has the right to request from the person holding the equivalent of this amount additional information about the source of the items, or the purpose of its use.
The Public Prosecution has also added that ZATCA has the right to seize the amount of currency from the traveler, bearer negotiable instruments, gold bars, precious metals, precious stones or the jewels for a period of 72 hours if it is suspected that they are proceeds or are related to a money laundering crime or a predicate crime.
In addition, the seizures that ZATCA is entitled to confiscate, includes the cases of amounts that do not reach the SR60,000 limit, as well as cases of non-declaration or false declaration in accordance with Article (23/1.2) of the Anti-Money Laundering Law in the Kingdom.
