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Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) has issued guidance on customs rules for travellers carrying cash, gold and jewels into the Kingdom.
ZATCA said that any travellers with SR60,000 ($16,000) or more in cash or precious metals must declare the sum in advance on with the authority, reports Arabian Business.
The Saudi customs authority emphasised the importance of passengers arriving and departing from the Kingdom, who are carrying currencies or negotiable instruments, to declare them electronically before arriving at the port of entry or exit.
Saudi customs rules
This can be done through the ZATCA application for smart devices available through the Apple and Google Play systems, accessing the declaration page on the Authority’s website and filling out the form, or by visiting the declaration offices located at customs ports when coming or leaving.
The declaration process is mandatory for every traveller carrying any amount of money worth SR60,000 or more, or its equivalent in other currencies.
It is also necessary for every traveller to carry negotiable tools, gold bullions, precious metals, precious stones, or fine jewellery, whether new or used, and their value reaches SR60,000 or more, or its equivalent in foreign currencies.
The authority stressed that proof of the legitimacy of the source of the declared items must be submitted.
Failure to declare or incorrect declaration can result in a financial fine of 25 per cent of the value of the seized items for the first violation, and 50 per cent of its value for repeat violations, following the provisions of Article 23/6 of the Regulations for the Anti-Money Laundering Law.
However, this is applicable if the suspicion of a relation between these seizures and an original crime or money laundering offence is negated.
If the suspicion between the seizures and an original crime or money laundering offence remains, the full amount will be seized, and the violator will be referred to Saudi Arabia’s Public Prosecution.
