ZATCA affirms precious metals and money declarations required for overseas passengers
The Zakat, Tax and Customs Authority (ZATCA) has emphasized 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.
This can be done through the ZATCA application for smart devices available through the IOS and Google Play systems, accessing the declaration page on the Authority’s website (zatca.gov.sa) 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 traveler carrying any amount of money worth SR 60,000 or more, or its equivalent in other currencies.
It is also necessary for every traveler to carry negotiable tools, gold bullions, precious metals, precious stones, or fine jewelry, whether new or used, and their value reaches SR60,000 or more, or its equivalent in foreign currencies.
The Authority has 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% of the value of the seized items for the first violation, and 50% 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 offense is negated. If the suspicion between the seizures and an original crime or money laundering offense remains, the full amount will be seized, and the violator will be referred to the Public Prosecution.
The declaration process is mandatory for every traveler carrying any amount of money worth SR 60,000 or more, or its equivalent in other currencies.
It is also necessary for every traveler to carry negotiable tools, gold bullions, precious metals, precious stones, or fine jewelry, whether new or used, and their value reaches SR60,000 or more, or its equivalent in foreign currencies.
The Authority has 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% of the value of the seized items for the first violation, and 50% 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 offense is negated. If the suspicion between the seizures and an original crime or money laundering offense remains, the full amount will be seized, and the violator will be referred to the Public Prosecution.