Visitors entering Macau must declare cash amounts of MOP 120,000 (US$15,000) or above, the authorities said in a statement on Tuesday.
Starting today, visitors arrivals with MOP 120,000 or more in cash (or the equivalent in other currencies) or bearer-negotiable instruments, such as traveller’s cheques, cheques, drafts, payment orders and promissory notes, must fill in a declaration form and use the “red channel” at customs. Those failing to fill in the form face a fine.
The purpose of the measure is to fight money laundering and terrorist financing, so as to ensure the security and stability of Macau’s financial system, the authorities said.
Visitors departing from Macau with MOP 120,000 or above (or the equivalent in other currencies) are also required to make a declaration, or they face a fine, the statement added.