OBLIGATION TO DECLARE CASH AT AIRPORTS/ ΥΠΟΧΡΕΩΣΗ ΔΗΛΩΣΗΣ ΡΕΥΣΤΩΝ ΔΙΑΘΕΣΙΜΩΝ ΣΤΟΥΣ ΑΕΡΟΛΙΜΕΝΕΣ

According to Regulation no. 1889/2005, any natural person entering or leaving the European Union (EU) carrying cash with a value equal to or greater than 10.000€ must declare this amount to the competent authorities of the member states through which it enters or leaves the EU. Cash includes also tradable securities (such as checks, etc.), and the declaration is conducted by submitting an executed form to the competent authorities by the traveler. In case of non-compliance or incorrect declaration, an administrative fine, which is immediately payable (equal to 25% of the amount of unrecorded cash), is imposed, while the customs authorities can also block the cash so as to investigate whether it concerns money laundering.

Lastly, according to a recent ruling of the European Court of Justice (WEU), the above obligation of declaration also applies to the international transit zones of airports located on the territory of the EU member states. (transit zones of the airports). Thus, a person traveling from a non-EU member state to another non-EU member state, passing through an airport located in the territory of the Union, is subject, during its’ passage to the above mentioned obligation of declaration.