6. Can a person bring in or take out of the country any amount of Philippine
currency?
A person may, without prior BSP approval, import or export, or bring in or take out
of the country, or electronically transfer, legal tender Philippine notes and coins,
checks, money orders or other bills of exchange drawn in pesos against banks
operating in the Philippines in amounts not exceeding P10,000.00. Prior
authorization from the BSP, through the International Operations Department, is
required for the export and import of Philippine currency exceeding P10,000.00.
7. Is there any restriction or limit in the amount of foreign currency that a
person may bring in or take out of the Philippines?
There is no restriction or limit on the amount of foreign currency that a person may
bring in or take out of the Philippines. However, any person bringing in or
taking out of the Philippines foreign currency, as well as other foreign
exchange-denominated bearer monetary instruments, (whereby title thereto
passes to another by endorsement, assignment or delivery), in excess of
US$10,000.00 or its equivalent must declare such fact in writing and furnish
information on the source and purpose of the transport of such currency or
monetary instruments using the prescribed Foreign Currency and Other
Foreign Exchange-Denominated Bearer Monetary Instruments Declaration Form.
The form is available at the Bureau of Customs desk in the arrival/departure areas of
all international airports and seaports. Failure to do so shall subject the violator to
sanctions, including confiscation of the foreign currency or monetary instruments
involved.
http://www.bsp.gov.ph/downloads/publ...egulations.pdf
There are currently 1 users browsing this thread. (0 members and 1 guests)