Regulatory Alerts2019-01-01
Decision on the Amount of Cash that May be Brought into or Leave Montenegro Without Declaring
The Council of the Central Bank of Montenegro issued this decision to establish the threshold for undeclared cash movements across the country's borders. It permits residents and non-residents to physically transport up to 10,000 euros or its counter value in other currencies without reporting to customs authorities. The regulation repeals the previous 2005 decision and entered into force eight days after its publication in the Official Gazette of Montenegro.
Pursuant to Article 17 paragraph 1 point 2 of the Central Bank of Montenegro Law (OGRM 52/00, 53/00, 47/01, 04/05), and Article 10 paragraph 4 of the Law on Foreign Current and Capital Operations (OGRM 45/05 and OGM 62/08), at its meeting held on 24 June 2010, the Council of the Central Bank of Montenegro passed the following DECISION ON THE AMOUNT OF CASH THAT MAY BE BROUGHT INTO OR LEAVE MONTENEGRO WITHOUT DECLARING (OGM 38/10) Article 1 A resident/non-resident may physically bring into or take out of Montenegro cash in euro and/or currency other than euro in the total amount of and/or in the counter value of up to 10,000 euros without reporting the amount to the administrative authority in charge of the customs affairs. Article 2 Decision on the amount of cash that may be brought in or out of Montenegro without declaring (OGRM 58/05) shall be repealed as of the day this Decision becomes effective. Article 3 This Decision shall enter into force on the eighth day following that of its publication in the Official Gazette of Montenegro. COUNCIL OF THE CENTRAL BANK OF MONTENEGRO Decision No. 0101-258/6-11 CHAIRMAN Podgorica, 24 June 2010 President of the Council Ljubiša Krgović, mp