Foreign currency departing Taiwan limit?

Leaving taiwan, no. Entering canada, every time. Always put into secondary and given their passive agressive speeches.

I think the worry for many of us is what are their procedures AFTER declaring. If a person has 1million usd in his suitcase, his life savings, and has paid tax on it and has declared it when flying, what is the outcome going to be? Many people are worried as governments sometimes are essentially legal gangsters. I would be terrified going to places like the USA where they steal assets and money on the regular within their borders.

Maybe try to fly on a private yet ?

Information from Paramount Business Jets (USA)

Can I fly with large sums of cash?

Yes, you can. This is a common occurrence for many private jet clients. For example, members of royal families may fly with millions of dollars in cash on their person.

You can fly with up to $5 million in cash as long as you declare that cash when going through customs. For domestic trips, there’s no limit and no need to declare it.

Is there a fee for bringing a large sum of cash with you when you go through customs?

No, there is no additional fee for bringing a large amount of cash. Simply state how much you have when passing through customs and it will not be a problem.

For example, we have previously been responsible for flying 15 Saudi princesses to the US. Each one had one million dollars in cash as well as a substantial amount of gold and diamonds. Because they declared this at customs, there were no issues.

Source:

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I guess this could be helpful if there are, like, Saudi royalty among us here at forumosa. :rofl:

Guy

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Bookmarked just in case :grin:

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Surely you see the scam level fuckery by authorities if that were to be acual law…no?

And the west laughs at chibese tryig to escape their oppression state with mkney haha. Seems like same.shit, different smell.

So my question is. Why cant someone take cash they earned, paid taxes on, and go abroad with it? What is the logic behind forcing them to go through banks and pay them percentages if not a gang state corruption type scenario?

Short answer: 9/11 and concerns about terrorists laundering $$$$.

Isn’t the 21st century lovely?

Guy

You’ll most likely need to proof the origin of the money, i.e. a bank statement, and they’ll probably want to now what you are planning to do with the money.

That doesnt answer my question, at all. All you said is exactly what i am shitting all over. If you pay tax and give the bank a cut, terrorists can transfer money too. Quite easily i might add. However what i am curious about is everyday people bringing their life savings and dont want to get royally fucked with banks taking a piece and want to bring it back physically…which really should be considered basic right.

As such, my above question still stands.

So what’s your problem? You show up at YVR with a sack of cash, and if it’s more than CAN$10,000 you declare it to the friendly folks at border services, and explain what you’re up to. Then off you go! Did I miss something here?

Guy

Ya, you missed my original question. Thats what i am asking about. If a person shows up with a million bucks usd and has thier tax records and such, what is the procedure after that regarding customs? Are people allowed to carry value with them in that quantity, or not? If not, are they forced to then use banking type institutions and pay them to do what one could do themself on an airplane?

Put otherwise: has anyone—anyone at all—faced a border services shakedown at YVR, or YYZ? Has anyone had sacks of cash arbitrarily confiscated by Canadian officials?

I’m still waiting to hear about this alleged problem. I have not experienced it, but maybe it exists. But I’m still waiting to hear the details.

EDIT: Here’s a law firm’s take on this situation from 2015:

Guy

I will try again.

I. Am. Asking. What. Happens.

I as well do not know, hence why it is important to know before trying.

My experience at yvr is they have watched my status for years and question the piss out of me, sometimes for hours, and mostly money/tax related. I make sure i stay under 9k cdn cash precisely due to the harrassment i have recieved. This type of experience has also happened nearly everytime.on land crossings coming into cansda fro usa. I was held 12 hours once for no good reasons… no record, dont commit crimes, pay tax etc.

So the curiosity is real as many people end up moving back and they dont want to be robbed by the government or the banks…

I wonder if your name lines up with the name of some dude who has done some questionable things. That’s certainly possible, and if so I am sorry about that.

I also found more recent materials discussing how immigrants, often acting in good faith, get into trouble with carrying cash, especially LEAVING Canada. Some unhappy examples are discussed in this CBC report:

Guy

It may be possible, my name in google shows nothing, not that thats really meaningful.

However i am not really talking about kind.hearted people acting a mules. I am curious, a is the op, about returning"home" and not getting dinged by the banks.

The question again: if sonekne with a million.isd flies out of taiwan and into say the usa or Canada (or add any country anyone has experience with) is there an issue if the money is simply savings an tax records are provided? Curious if anyone has had any experience as my experiences have been incredibly annoying filled with shit attitudes and long wait times for no wrong doing on my part. Some go thrrough fine, others i know get caught up in secondary black holes as well. Its own legitimate concern considering many governments do confiscate stuff arbitrarily (as i mentioned above about being terrified in the usa).

My last post, regarding getting funds to Canada.

If you deal with banks in Taiwan to convert NTD to CAD (of course you’ll do it here, as the rates in Canada will generally suck as they won’t want to buy NTD), the banks will offer two rates: spot (virtual rate) and cash (where they hand you bills). The spot rate is of course more favourable. So if you wire the funds to Canada, you will pay some nominal fee (it’s not that crazy), but the spot rate is in your favour. It may not be quite a wash, but it’s close enough, especially with larger amounts. Then you’re good to go without any fear of border services seizing your hard earned cash at YVR or YYZ.

Guy

Also, having it in your bank account is going to be safer than traveling with 10,000 USD. What are you going to do when you arrive? Stick it into a built-proof safe? Under your mattress? I’ve had 20-200 USD “grow legs and walk away” in both the US and TW enough times to know that I can’t trust people who I didn’t know had access to my living space (which was locked) to keep their sticky fingers away from my things, even when that’s bills tucked in the folds of jeans that are folded up in dresser drawers. Banks come with their own set of problems, but if you have evidence that you wired 10,000 USD and they charge a US$30 fee and there’s only 9,200 showing up, you’re going to have a lot less trouble proving that they stole from you than if money walks away from your suitcase.

Germany and probably the rest of the EU:
First you have to fill out a form and declare how much money in what currency, bonds, precious metals, etc. you want to bring with you before your travel.
On arrival you need take the red gate and say that you brought cash and How much and show them the documents.
They will bring you to a separate office if available, count your money and determine the amount in €, check your bank documents, tax receipts etc. and record your statement on how you got the money and what you are planning to do with it. Then they will check (if you’re an EU Citizen and you’re coming from a non-EU country) if you need to pay additional income tax on it.
If everything checks out, you’re free to take your money and enter country. If they have doubts or they need to verify your documents etc. they will freeze your money and give it back to you after the lawful origin and ownership is proven.

That amount of money in cash will definitely raise some eyebrows and you should plan your traveling schedule accordingly.

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You are all convincing me to buy bitcoin. :slight_smile: I hate banks and governments that have no right to put their sticky fingers on my already taxed cash.

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Except it fluctuates wildly and can mean one value today and a completely different one tomorrow.