can anyone help me with cash declaration?

Question

Hi there, I would like to ask you something about the China Customs declaration. I am moving to Japan from Italy and I would like to do a stopover in Shanghai using the 72 hours-visa free transit option. In order to pay the rent and to settle down in the very expensive city of Tokyo I thought to bring with me something like 7000 USD worth of cash (in JPY), but I noticed that if I bring cash equivalent to or more than 5,00USD into China I have to declare it at the customs. I would like to ask you what does it mean: if I bring more than 5,000 USD will the exceeding amount be confiscated or should I pay taxes on them? What will happen? I am a bit scared to incur into some troubles just for a quick trip to Shanghai and I was wondering if it was worth all the troubles. Above all, I am afraid of loosing my money or having to pay extra taxes-fines!For example, if I bring with me 7000 USD, will 2000 USD be confiscated or will I have to pay taxes on them? Thank you all in advance for your reply! Dave

David · Answer

Dave, I got two replies from the internet. One thing for sure is that you must declare to the customs if you hold more than 5000 USD. However, there are two replies on how the customs deal with the extra money. Someone says you can bring all the money into PRC as long as you declare it to the customs. Another reply says the customs will not return the extra money. I don't know return means but they won't confiscate it. The safest way is to bring less than 5000 USD and change the extra 2000USD into a cheque. Nobody cares how much you carry in your cheque.

Dave · Answer

Hi David and thanks for your prompt and kind reply!I will surely bring with me cheques if there's the risk of the money being confiscated or not returned! Or I will just stay at the airport for a looong looong time (19HRS), bringing with me a lot of books/videogames/stuff to do in order to mantain my mental health :D

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Can anyone help me with cash declaration?