With how much money can you enter or leave Mexico without having to declare it?

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It is possible to introduce a good amount of money to Mexico without having to declare it; however, there is a limit that should not be exceeded.

Due to the covid-19 pandemic, trips abroad have decreased; However, it is important to know the requirements imposed by customs when entering or leaving Mexico so that it is safe to travel, otherwise, you could be a creditor of fines, one of those requirements is the amount of money that you are allowed enter or exit the country without the need to declare it at customs.

How much money is allowed to enter or leave Mexico?

According to the  Tax Administration Service( SAT ) travelers who intend to enter the country may do so with up to $ 10,000, or its equivalent in another currency, without declaring it.

In that sense, when leaving the country, the same rule applies, since if you leave with more than 10 thousand dollars you must declare it to the authorities. It does not matter if the money is carried in:

Cash

National or foreign checks

Payment orders

Receivable document

How to declare it?

When you arrive or leave the country you must fill out the following forms, which can also be filled out online on the SAT page .

Upon arrival in the country, the Customs Declaration for passengers from abroad.

When leaving, the Declaration of Money, Departure of passengers.

In case of answering that you bring more than 10 thousand dollars in any of these declarations, the Declaration of Internment or Extraction of Cash Amounts or Documents Receivable must also be completed.

Fines

In the event that a traveler does not declare that he has more than 10 thousand dollars in his possession and is detected when leaving or entering the country, he may be entitled to a fine equivalent to 20 and 40 percent of the amount carried, that is, of the 10 thousand dollars.

Source: milenio.com

Mexico Daily Post