Export of gold and silver coins is prohibited, and cash in excess of US$10,000 needs to be declared.
My concerns are:
Are there any restrictions or taxes on importing gold bullion?
What happens if I bring gold/silver coins into the country? I then can’t take them out…
What happens if I am carrying a lot of cash with me and declare it? Will it be confiscated/taxed? I prefer not to convert it to money in a bank account because of commission charges.
Are there limits to wire transfer sizes out of Taiwan?
If my Gold Card is granted, I plan to relocate, possibly permanently to Taiwan, and work towards PR. I am carrying so much valuables and cash because this is basically an emigration from my home country to a new one.
Inward/outward passengers or crew members carrying gold over USD 20,000 (or its equivalent) are required to declare to Customs. The excess amount is not allowed to be carried into or out of Taiwan, unless accompanied by a permit from the Bureau of Foreign Trade, MOEA（Helpline:+886-2-23510271）.
Depends how much you’re talking about. Around $10k, they might ask you a couple questions, but it’s not going to be a big deal and they’re not gonna blink twice unless you’re seriously suspicious - Asians love a lot of walking around money. A lot more, and they’ll definitely be asking questions. They won’t confiscate unless they suspect money laundering / drug trafficking, etc. If you don’t declare and they find it, you’re definitely be in danger of confiscation.
are you coming alone? if you are coming with a spouse she can also carry money, so you double your allowed quota…
coming to a new country with money makes sense, but you will have to declare and show proof of funds, so they dont suspect you of illegal activities.
From my experience.
When you will cross Taiwan custom just request the form and fill it. Be prepared to answer the questions about source of money and how are you going to spend it. Nothing special and no approval needed. Then they will count your money and give you some kind of receipt. Later you can use that receipt when leaving Taiwan with your money.
But if during your stay in Taiwan you decide to convert your money into NT probably you will need to prove the source of money with some papers. Especially if the amount will be higher than 500k NTD.
This article appears to answer some of my questions too:
In summary:
Amounts exceeding NT$60,000 must be declared
No limit on foreign currency in/out of Taiwan, but those whose value >US$10,000 must be declared.
For individuals, movement of money >NT$500,000 must be cleared with the Bank of Taiwan.
@QuaShaShao: Thank you, I will check with them. @Poundsand: OK thank you. @izzy: Thank you for the suggestion. Yes I am coming alone. @Alex1000: Good to know, thank you for the info.