Effective 16 July 2018 travelers arriving or leaving Hong Kong with more than HKD120,000; or its equivalent in similar instruments, must declare it to the Authorities at the designated points of entry or departure.
These are Lo Wu, Hung Hom Station, Man Kam To boundary, Sha Tau Kok boundary, Hong Kong-Macau Ferry Terminal, China Ferry Terminal, Lok Ma Chau boundary, Hong Kong International Airport, Tuen Mun Ferry Terminal, Shenzhen Bay Port Hong Kong port area, Lok Ma Chau Spur Line, Kai Tak Cruise Terminal and Ocean Terminal.
If the money is received or sent as cargo, an advance electronic declaration must be made.
Failure to declare nay be punished with up to two years imprisonment and/or a fine of up to HKD500,000.
Courtesy: Gabriel A. Leichen.
©2018 Monetary Research Institute.
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