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Seeking info travel cash limits.
Thiong'o
#1 Posted : Thursday, November 10, 2011 9:20:51 AM
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Joined: 10/14/2011
Posts: 661
What are what are the legal requirements/customs declarations etc. for carrying USD (physical cash) out of Kenya?

Anyone with a copy of the actual regulations that permit carrying cash out of Kenya and what (if any), are the limits.
iKenya
#2 Posted : Thursday, November 10, 2011 11:58:18 AM
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Joined: 7/27/2008
Posts: 241
There is no limit per se, above a certain amount ($5, 000) you will need to declare it to customs.....IMO the main issue is the destination country since they are the recipients of the cash...thats the biggie...

My 2 cents....
Quote:
Buy when there's blood in the streets, even if the blood is your own...
Thiong'o
#3 Posted : Thursday, November 10, 2011 12:14:27 PM
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Joined: 10/14/2011
Posts: 661
iKenya wrote:
There is no limit per se, above a certain amount ($5, 000) you will need to declare it to customs.....IMO the main issue is the destination country since they are the recipients of the cash...thats the biggie...

My 2 cents....


@ ikenya, thanks, i finally managed to get a copy of the guidelines… below is an extract from the specific section.

12.0 EXPORT/IMPORT OF CURRENCY
12.1 Authorised banks, forex bureaus and Permitted persons should draw the attention of their customers to the provisions of Legal Notice No. 118 contained in the Kenya Gazette Supplement No. 48 dated 4th September, 1998 issued under the Central Bank of Kenya Act (Cap 491), Laws of Kenya on currency movement.
12.2 The Legal Notice permits persons leaving or entering Kenya to take out or bring into the country currency upto five hundred thousand Kenya Shillings (Kes 500,000) or the equivalent of five thousand United States Dollars (US$ 5000) in foreign currency. Any amounts beyond these limits may be taken out or brought into this country provided they are declared at the point of entry or exit.
12.3 Travellers should be advised to use Form CBK/C.D./1 obtainable at the customs entry or exit points country wide, for the purposes of declaration of currency.
Mainat
#4 Posted : Thursday, November 10, 2011 12:25:08 PM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
Who checks this? I am pretty sure lots of diaspora Kenyans bring in more than this even Ksh10m in foreign currency via JKIA.
Sehemu ndio nyumba
tony stark
#5 Posted : Thursday, November 10, 2011 1:07:41 PM
Rank: Veteran


Joined: 7/8/2008
Posts: 947
Mainat wrote:
Who checks this? I am pretty sure lots of diaspora Kenyans bring in more than this even Ksh10m in foreign currency via JKIA.

You will get us back to the uhuru debate.
Why would any one carry 100,000 dollar cash? How would he even get it out of the states? I thought he customs guys will search you and you have to prove you are the owner of the 100,000$. Too much hassle!
Thiong'o
#6 Posted : Thursday, November 10, 2011 2:59:53 PM
Rank: Member


Joined: 10/14/2011
Posts: 661
tony stark wrote:
Mainat wrote:
Who checks this? I am pretty sure lots of diaspora Kenyans bring in more than this even Ksh10m in foreign currency via JKIA.

You will get us back to the uhuru debate.
Why would any one carry 100,000 dollar cash? How would he even get it out of the states? I thought he customs guys will search you and you have to prove you are the owner of the 100,000$. Too much hassle!



forex guidelines cont……

12.4 In view of the risks associated with cash, travelers and the business community should be advised to reduce the amount of cash carried as much as possible and instead use traveler’s cheques, credit cards, bank drafts, electronic and direct bank transfers and other more secure modes of money transmission.
Ali Baba
#7 Posted : Saturday, November 12, 2011 10:01:54 AM
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Joined: 8/29/2008
Posts: 571
THIONG"O: You sound like you are a money launderer!!!However,here are the current rules.$10,000 is the amount you must declare while travelling internationally.Any amount below that you need not worry:its beer money.However,for security reasons,its advisable not to carry lots of cash.There are other ways of moving large sums of cash internationally.But my friends say I shouldn't talk about them on Wazua because if I do,sirikali will be watching.....know w'at I mean???!!
Ali Baba
#8 Posted : Saturday, November 12, 2011 10:03:57 AM
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Joined: 8/29/2008
Posts: 571
MAINAT: if u have 10m you want moved internationally ....let me know,but for a fee!!!!
For Sport
#9 Posted : Saturday, November 12, 2011 10:49:05 AM
Rank: Veteran


Joined: 12/23/2010
Posts: 1,229
Ali Baba wrote:
MAINAT: if u have 10m you want moved internationally ....let me know,but for a fee!!!!


Ali baba....where are the fourty?
Ali Baba
#10 Posted : Saturday, November 12, 2011 5:51:00 PM
Rank: Member


Joined: 8/29/2008
Posts: 571
For Sport: No,no,not like that!!!But moving it without the "big brother" smelling alert!!!Of course for a fee!!!!
Thiong'o
#11 Posted : Wednesday, November 23, 2011 10:03:17 AM
Rank: Member


Joined: 10/14/2011
Posts: 661
Ali Baba wrote:
THIONG"O: You sound like you are a money launderer!!!However,here are the current rules.$10,000 is the amount you must declare while travelling internationally.Any amount below that you need not worry:its beer money.However,for security reasons,its advisable not to carry lots of cash.There are other ways of moving large sums of cash internationally.But my friends say I shouldn't talk about them on Wazua because if I do,sirikali will be watching.....know w'at I mean???!!


@ Ali baba,
Any amount in excess of $5000 (not $10,000) should be declared.

12.2 The Legal Notice permits persons leaving or entering Kenya to take out or bring into the country currency upto five hundred thousand Kenya Shillings (Kes 500,000) or the equivalent of five thousand United States Dollars (US$ 5000) in foreign currency. Any amounts beyond these limits may be taken out or brought into this country provided they are declared at the point of entry or exit.

I doubt that these declarations in any way help govt to track the unofficial cash flows – (inflow/outflow).
http://www.businessdaily.../-/eqptmcz/-/index.html

However,for security reasons,its advisable not to carry lots of cash
Good advice, I have always transacted through the bank and that is what the forex regulations advise.

12.4 In view of the risks associated with cash, travelers and the business community should be advised to reduce the amount of cash carried as much as possible and instead use traveler’s cheques, credit cards, bank drafts, electronic and direct bank transfers and other more secure modes of money transmission.

This was a one off transaction necessitated by circumstances.

There are other ways of moving large sums of cash internationally.But my friends say I shouldn't talk about them on Wazua because if I do,sirikali will be watching.....know w'at I mean???!!

The issue here is about compliance -No monkey business with the big brother.
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