The Customs and Excise Division of the Treasury wishes to remind persons taking or sending large sums of cash to or from the Isle of Man that they are required to declare it to Customs and Excise if it amounts to €10,000 or more, in whatever currency.
Part VA of the Customs and Excise Management Act 1986 imposes this requirement and there are penalties for failure to make a declaration, or for providing false information. Cash that is not declared could be seized.
This applies to cash going to, or coming from, anywhere outside the Island; and regardless of whether the cash is being carried by someone, or is sent in the mail, by courier service or is contained in freight, a vehicle or a vessel.
For the purposes of the requirement, “cash” includes any banknotes or coins in any currency (including counterfeit), postal orders and cheques of any kind (including travellers’ cheques), but excluding cheques drawn on a British or Irish bank. It also includes stored value cards and other document, device, coin or token with a monetary value. Notice 9011 MAN on the Customs and Excise website provides a fuller definition.
For more information please see “An introduction to cash entering or leaving the Island” and Notice 9011 MAN.
People should note that they would also be required to declare any cash of €10,000 or more moving between the Isle of Man and the United Kingdom or Republic of Ireland to the customs authorities in those countries.
For more information, contact Customs and Excise.