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Q.1What should I do if I am in possession of a large quantity of currency and bearer negotiable instruments (“CBNIs”) when I arrive in Hong Kong?
A.1

Pursuant to the Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance, Chapter 629, Laws of Hong Kong (Opens a new window) (“the Ordinance”), any person arriving in Hong Kong via a specified control point set out in Schedule 1 to the Ordinance and in possession of a large quantity of CBNIs (i.e. CBNIs of a total value more than HKD120,000), must make a written declaration to a Customs officer, using the Red Channel under the Red and Green Channel System.

Any person arriving in Hong Kong other than at a specified control point (e.g. passengers arriving on cruise ships berthing at anchorages), must upon the requirement of a Customs officer disclose whether he/she is in possession of a large quantity of CBNIs. If so, he/she must make a written declaration.

Q.2What should I do if I am in possession of a large quantity of CBNIs when I leave Hong Kong?
A.2

Any person about to leave Hong Kong must upon the requirement of a Customs officer disclose whether he/she is in possession of a large quantity of CBNIs (i.e. CBNIs of a total value of more than HKD120,000). If so, he/she must make a written declaration.

Q.3What does it mean by being “in possession of” a large quantity of CBNIs?
A.3

According to section 2 of the Ordinance (Opens a new window) , a person is in possession of a large quantity of CBNIs if such CBNIs are -

  1. on the person;
  2. in the baggage accompanying the person; or
  3. for a person arriving in or about to leave Hong Kong on a cross-boundary conveyance -
    1. part of the personal belongings of the person carried on the conveyance; or
    2. in the checked baggage of the person (whether or not carried, or to be carried, on the same conveyance).

Q.4Do I need to make any declaration or disclosure if I transit through Hong Kong after arriving at the Hong Kong International Airport from a place outside Hong Kong?
A.4

If a traveller is in transit at the Hong Kong International Airport and does not pass through immigration control at any specified control point while in Hong Kong, he/she is not required to make a declaration or disclosure of CBNIs in his/her possession.

Q.5If I bring a large quantity of CBNIs into Hong Kong on behalf of a person, do I need to make a declaration?
A.5

Yes. Any person arriving in Hong Kong at a specified control point set out in Schedule 1 to the Ordinance (Opens a new window) and in possession of a large quantity of CBNIs (i.e. CBNIs of a total value of more than HKD120,000), must make a written declaration to a Customs officer, using the Red Channel under the Red and Green Channel System. Any person arriving in Hong Kong other than at a specified control point (e.g. passengers arriving on cruise ships berthing at anchorages), must upon the requirement of a Customs officer disclose whether he/she is in possession of a large quantity of CBNIs. If so, he/she must make a written declaration.

If you are not the owner of the CBNIs concerned, you are required to provide information of the CBNIs’ owner in the declaration form.

Q.6Should I declare or disclose a large quantity of CBNIs in the possession of my accompanying family members?
A.6

Each person must declare or disclose on his/her own the large quantity of CBNIs in his/her possession. However, an adult who accompanies a young person (i.e. a person under the age of 16 years) and knows that the young person is in possession of a large quantity of CBNIs must declare or disclose for the young person.

Q.7How to determine whether I should make a declaration if I am in possession of CBNIs denominated in a currency other than Hong Kong dollars (“HKD”)?
A.7

The value of CBNIs in the possession of a traveller and denominated in a currency other than HKD (e.g. foreign currency) would be calculated in accordance with the opening indicative counter exchange selling rate (Opens a new window) published by the Hong Kong Association of Banks (“HKAB”) on the day when the traveller arrives or is about to depart. If HKAB does not publish such rate on the day, or the time when the traveller arrives or is about to depart is before the publication time of such rate, the value of the CBNIs would be calculated according to the most recent rate HKAB published before the day. For example, if a traveller arrives in Hong Kong on 29 July 2018 (which is a Sunday on which HKAB normally does not publish exchange rates), reference should be made to the rate published on 28 July 2018. Historical rates are available at HKAB’s website.

If no opening indicative counter exchange selling rate is published by HKAB for a particular currency, the value of the CBNIs would be determined by reference to the United Nations Operational Rates of Exchange (Opens a new window) (“UN rate”) being effective for the currency concerned on the day when the traveller arrives or is about to depart. The value of the CBNIs in HKD can be obtained by converting the nominal value of the CBNIs first to USD and then HKD using the UN rate.

In making a written declaration, the value of CBNIs should be stated in the currency in which the CBNIs are denominated. No conversion to HKD is necessary. For example, in declaring USD20,000, the value should be stated as “USD 20,000”.

If you are not sure about the prevailing exchange rate adopted for a currency at the time of arrival or departure, you should approach a Customs officer for assistance.

Q.8How to determine whether I should make a declaration if I am in possession of various kinds of currencies?
A.8

You should calculate the equivalent value in HKD for each currency. If their total equivalent value in HKD exceeds HKD120,000, you are required to make a declaration. In making a written declaration, the value of CBNIs should be stated in the currency in which the CBNIs are denominated. No conversion to HKD is required.

Q.9How to make a declaration?
A.9

A declaration should be made by using a specified declaration form. After completing the declaration form, you should hand it to a Customs officer. Declaration forms are available at the Red Channel of the Customs Arrival Hall of various control points, and can be downloaded from the website of the Customs and Excise Department (C&ED) (Opens a new window) .

Q.10How to make a declaration if I am the driver of a cross-boundary vehicle or a passenger on a cross-boundary limousine?
A.10

If the driver of the cross-boundary vehicle or the passenger on the cross-boundary limousine is in possession of a large quantity of CBNIs (i.e. CBNIs of a total value of more than HKD120,000), a declaration should be made by handing the declaration form to a Customs officer as the vehicle passes through the Customs kiosk.

Note: CBNIs in the possession of the driver of a cross-boundary vehicle exclude those imported or exported as cargo on board.

Q.11Where can I obtain the declaration form?
A.11

Declaration forms are available at the Red Channel of the Customs Arrival Hall of various control points, and can be downloaded from the website of the C&ED (Opens a new window) .

Q.12Can I make an electronic declaration via the internet?
A.12

No. According to the Ordinance (Opens a new window) , a person who makes a declaration on a large quantity of CBNIs in the possession of individuals should give a duly completed declaration form to a Customs officer.

Q.13What are the procedures after I have submitted the declaration form?
A.13

The Customs officer(s) will check if all information required has been provided and verify the information on the declaration form. If necessary, the officer(s) may also need to check or count the declared CBNIs to ascertain the accuracy of the declared value.

Q.14How long will it take to complete the declaration process?
A.14

According to the performance standard of the C&ED, the time required for passenger clearance at the Hong Kong International Airport, land boundary control points and ferry terminals is within 15 minutes, except for passengers who undergo further examination.

Q.15What is the consequence if I do not make a declaration for a large quantity of CBNIs, or if the declaration contains any information that is false in a material particular?
A.15

Any traveller who breaches the declaration/disclosure requirements for the first time may make a payment of HKD2,000 to discharge his/her legal liability, provided that he/she has not previously been convicted of any money laundering or terrorist financing offences and whose CBNIs are not reasonably suspected to be crime proceeds or terrorist property. Other cases are subject to criminal proceedings, and the maximum penalty is a fine of HKD500,000 and imprisonment for two years.

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