BVI Government Information Service
ROAD TOWN, Tortola (BVIGIS) — Travellers in to and out of the Territory are reminded that all monetary instruments in excess of $10,000 being imported and exported must be declared to Her Majesty’s Customs Department.
The Customs Management and Duty Act 2010 Section 87 (d) states that: “A person entering or departing from the Territory shall, at the place and in the manner the Commissioner may direct, make a declaration of anything contained in the person’s baggage or carried with the person which being an amount of cash, exceeds ten thousand dollars.”
Commissioner of Customs, Mr. Wade Smith said that the issuance of this reminder is timely, as recently travellers have failed to declare cash and other monetary instruments with value over $10,000 when entering and exiting the Territory.
Mr. Smith said that this includes coins, notes, traveller’s cheques and negotiable instruments.
The Commissioner added that travellers with more than $10,000 cash or monetary instruments are now required to fill out the “Report of International Transportation of Currency or Monetary Instruments” form. Failure to declare the funds is in contravention with the law and is liable on conviction to a fine of $10,000 or three times the value of the monies not being declared.
The form can be accessed at all nine ports of entry located throughout the Territory.
The Customs department remains committed to providing quality service, maximising the collection of revenue, protecting our territorial borders and facilitating legitimate trade efficiently, effectively and economically in order to safeguard the well-being and security of the Territory.