How to travel with huge sum of money?

score:8

Accepted answer

There's at least two separate facets to consider here.

Legally, you're in the clear. Restrictions covering traveling within the EU and travel to/from from the EU only require you to declare amounts exceeding EUR 10,000.

Norway, however, being outside the EU, requires you to declare amounts over NOK 25,000 (~EUR 2,800 at time of writing) or face a 20% penalty, although it's a little unclear to me where/how exactly you're supposed to declare if coming from a fellow Schengen country.

Safety is a bigger concern, as carrying around EUR 9,000 just seems like a really bad idea. The right thing to do would be to deposit it at a Latvian bank, declare its origin and pay any applicable taxes, and then you can transfer it easily to other countries, withdraw it from ATMs, use it to pay credit card bills, etc.

If you wish to stick to plain old cash, then the answers to this question and this question have some advice for you, although most of it boils down to "don't". In short, divide your money in multiple places, preferably directly on your body but in unobvious places (hidden pockets in pants, etc) — this way you minimize the risk of losing them through both theft and violent robbery. The latter isn't a huge concern in Sweden or Norway, although one of the three times somebody has tried to pickpocket me did occur in Stockholm's T-Centralen...

Upvote:-1

Yes there are no restriction of holding cash and declare it when traveling in EU countries but I think carrying such a big money during traveling without safety is not a good idea.

Upvote:0

When you carry cash with you on an airline trip, you should take some very basic steps to keep from becoming a victim of theft, or from losing your money by accident.

1.Avoid traveling with large amounts of cash.

2.If you have to take cash, keep it in a carry on bag.

3.Never put your cash, financial instruments, or precious metals in a checked bag.

4.Keep your cash and other valuables out of public view.

5.Keep your baggage and belongings in sight when passing through a security checkpoint.

6.If your carry on baggage must be searched, insist on keeping your bag in sight.

7.If asked about the amount of money in your baggage by a TSA agent or other responsible authority, tell the truth.

8.If you suspect that you have been a victim of theft, contact an airport police officer or other law enforcement representative immediately (note that TSA agents are not law enforcement agents)

If you suspect that a TSA screener or other screening area employee has stolen your property, contact a supervisor.

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