Entry and Exit Alert: Cash Over NT$100,000 Not Declared Will Be Confiscated

By MOOK Travel Chen Wenlin | Compiled and Reported
 
Carrying sufficient money when traveling abroad is a practice that some frequent travelers find reassuring. However, the Customs Administration now states that, in order to prevent money laundering, according to the newly amended and promulgated Article 12 of the Anti-Money Laundering Act, starting from June 28 of this year, in addition to the aforementioned foreign currency cash and securities, travelers entering or leaving the country carrying NT$100,000 in cash, or gold and items with a total value of over US$10,000 that may be used for money laundering, must declare them to customs. Otherwise, they will be confiscated or penalized.

After this news was released, netizens expressed a variety of opinions. Some pointed out: “The difference is whether you declare or not — it’s not that cash over NT$100,000 will be automatically confiscated. Nowadays, payment cards are so convenient, and many bank cards allow cash withdrawals abroad, albeit with limits.” Others commented: “How is NT$100,000 in cash enough for a trip to Europe or the U.S.? Not to mention, the gold jewelry and diamond rings you’re wearing might exceed the limit too.” They felt it was indirectly forcing people to use cards.

However, customs officials explained that although there are separate regulations for travelers carrying foreign currency cash and items when entering or leaving the country, as long as the amounts for each currency type do not exceed the declaration threshold, they can be carried together. That means if you are carrying gold worth less than US$10,000, foreign currency under US$10,000, RMB under ¥20,000, and NT$100,000 or less, all of these can be brought in or out of the country without declaration.