Importation and exportation of currency by travellers

Importation and exportation of currency by travellers

Importation and exportation of currency by travellers

Source: Importation and exportation of currency by travellers | The Herald September 7, 2017

Foreign currency

Foreign currency

The importation and exportation of currency is governed by the Reserve Bank of Zimbabwe (RBZ) in terms of the Exchange Control Act [Chapter 22:05] as read with Exchange Control Regulations, Statutory Instrument 109 of 1996.

Importation
The importation of currency into Zimbabwe by travellers is not restricted. This implies that any person can bring in any amount of currency into Zimbabwe.

However, all visitors to Zimbabwe are encouraged to complete a Baggage Declaration Form (Form 47) and declare the currency in their possession at the time of entry. The processed declaration forms may be used to support re-export of any balance of currency at the end of the visitor’s stay in Zimbabwe should the amount of cash exceed the allowed export thresholds.

Exportation
Members of the public are advised that the limit on the amount of currency to be taken out of Zimbabwe by travellers on their person or in their baggage as they leave the country is controlled.

Following the promulgation of the Exchange Control (General) (Amendment) Order, 2017, (No. 18) published in Statutory Instrument 93 of 2017, the amounts have been increased from US$1,000 to US$2,000 or its equivalence in any other currency or combination of currencies, including bond notes and coins.

If a traveller wishes to export cash in the combination of all currencies, the cash so exported shall not exceed the equivalence of US$2,000 on exit. Where the individual intends to export currency above these stipulated thresholds, he/she shall seek specific approval from the Exchange Control Unit at the Reserve Bank of Zimbabwe.

All travellers leaving Zimbabwe are urged to strictly adhere to the limits stated above. Any excess currency found in possession of travellers without authority shall be seized and may be forfeited to the State.

Disclaimer

This article was compiled by the Zimbabwe Revenue Authority for information purposes only. ZIMRA shall not accept responsibility for loss or damage arising from use of material in this article and no liability will attach to the Zimbabwe Revenue Authority.

To contact ZIMRA:

WhatsApp line : +263 782 729 862 — Visit our website: www. zimra.co.zw — Follow us on Twitter : @Zimra_11 — Like us on Facebook : www.facebook.com/ZIMRA.11 — Send us an e-mail : [email protected]/[email protected] — Call us (Head Office) : 04 –758891-5; 790813-4; 781345; 751624; 752731

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