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This story is about an American citizen who brought in $37K in undeclared cash to Panama, no doubt his life will now be made MISERABLE…
As the article mentions; “every three letter organization that ends in “Agency” will be looking at this dude hard.”
Anyone with a brain understands this is more about “fear” and “control” and little about “money laundering” but is it worth the risk?
I think not …
Please do NOT try to bring in undeclared cash to Costa Rica.
You can see the full article at [url=http://panamaadvisoryinternationalgroup.com/blog/news-from-panama/american-busted-at-tocumen-with-37k-in-undeclared-cash/]American Busted At Tocumen With $37K in Undeclared Cash[/url]
Scott
A supposedly true story from a few years back is about a couple who landed in Costa Rica with $29,000 which was every dime they had and didn’t declare it.
Going through Customs, they were diverted briefly, and when they reached their hotel room the cash was gone! They searched everywhere but . . . nothing.
The following morning, they returned to Customs and raised holy hell but to no avail. The crew from the night before was long gone. The cash was unmarked and undeclared. There was nothing to trace and no one to accuse.
So they returned to their hotel, searched everything again, and found the entire stash in an outside zipper pocket of one of their bags. When one asked the other if s/he hadn’t searched that bag thoroughly, the response was, “No, I didn’t want to disturb the cat.”
Geez Scott, and I bought an extra large bra (my depository) to wear to Costa Rica when I come – Plan B – ROFLMAO
David – that was like the stories when we made a large bust of one of the Drug Kings and they had 4 cats with the most beautiful collars and harnesses you have ever seen – ALL DIAMONDS – hmmmmmmmmmmmmmmmmmmmmmm Seized Assets
Since the government does not officially recognize gold or silver to be money, only their counterfeit paper currency, I wonder what tax consequences there would be, if any, for taking several kilos of one or the other out of the country and into Costa Rica?
How is gold and silver viewed in Costa Rica as an import of personal effects? In the US, precious metals are duty free when imported. But there is an interesting contradiction here which illustrates the big lie under which we all live.
Ben Bernanke, when asked by Ron Paul if he thought gold was money, replied that he believed it was not money. However, US Customs and Border Protection has a tariff number assigned to precious metal when imported as “monetary” precious metal. Somebody is full of you-know-what.
How much is the amount before one has to declare? Say Ifly in with $500 in my wallet for the week…? Declare it?
The Customs form the flight crew will give you shortly before you arrive in Costa Rica says that you must declare currency and other securities in an aggregate amount/value of $10,000US or greater.
Were it mine to do, I’d adhere to this very conservatively, were I bringing in something like precious metals the value of which might be open to question.
We always bring in a ton of merchandise that’s either not available in Costa Rica or which is more expensive here. Because the language of the Customs form is a little ambiguous, and because everything is for personal use, we declare nothing and, having retrieved our luggage, always go through the “Nothing to Declare” line at Customs. So far, we’ve never had a problem with medications, pet supplies, electronics or anything else.
[quote=”DavidCMurray”]The Customs form the flight crew will give you shortly before you arrive in Costa Rica says that you must declare currency and other securities in an aggregate amount/value of $10,000US or greater.
Were it mine to do, I’d adhere to this very conservatively, were I bringing in something like precious metals the value of which might be open to question.
We always bring in a ton of merchandise that’s either not available in Costa Rica or which is more expensive here. Because the language of the Customs form is a little ambiguous, and because everything is for personal use, we declare nothing and, having retrieved our luggage, always go through the “Nothing to Declare” line at Customs. So far, we’ve never had a problem with medications, pet supplies, electronics or anything else.
[/quote]good, figured most be a large amount…good to hear no issues w/electonics,etc..surprised they dont get you on that sort of thing….
Has anyone brought in boxes along or instead of suitcases ? not everything we have fits in suitcases and allows good options for padding. I have seen boxes come out of the baggage claim but wonder if its a problem on the Costa Rica side. Thanks ! Jo
[quote=”iansmom”]Has anyone brought in boxes along or instead of suitcases ? not everything we have fits in suitcases and allows good options for padding. I have seen boxes come out of the baggage claim but wonder if its a problem on the Costa Rica side. Thanks ! Jo[/quote]
I have brought boxes and seen others do it as well. It depends on the size and “condition”, i.e., if it is a new computer in a new box with the brand name on it, likely that it will draw attention. Several years ago I brought down new electronics, I removed them from the original box along with the factory packing material, cut the box down all 4 sides, turned it inside out, re-taped all of the edges and corners, took a big black marker and wrote my name and CR phone number on a couple of sides, wrapped it with some twine to make a “handle” and I had what appeared to be a “used” box. Went right through, no problem.
Also, you can get really good big suitcases and footlockers at thrift stores (Goodwill) for under $10.00, and the same for “comforters” – they make great packing & protection material for a fraction of the “moving blanket” price!
I understand that at both SJO and LIR they have recently upgraded their scanning equipment, so who knows what will happen.While i was trying to find custom restrictions for bringing in tolietries in my checked baggage for CR – i went to the IATAtravelcentre.com/CR-Costa-Rica-Customs… site and found this for currency – amazing –
Currency rules
Currency Import regulations:
Local currency (Costa Rican Colón-CRC): no restrictions.
Foreign currencies: no restrictions, but only US Dollars are accepted for exchange.Currency Export regulations:
Local currency (Costa Rican Colón-CRC) and foreign currencies: no restrictions.that guy probably looked here before bringing his wad in lol
It is not true that only U.S. dollars are accepted for exchange. At Banco Nacional de Costa Rica (and maybe others), they publish an exchange rate for euros.
[quote=”VictoriaLST”]I wonder…….if you buy colones in the States, can you bring in more than $10,000 worth?[/quote]
Might I beg another question-should I buy colones in USA? in CR? or use US bills when I arrive…..what is easier?
[quote=”camby”]Might I beg another question-should I buy colones in USA? in CR? or use US bills when I arrive…..what is easier?[/quote]
First, notify your bank that you’ll be traveling in Costa Rica. Then, bring $100 or so in U.S. $10 and $20 bills — no $50s or $100s. $100 will get you started.
At your first opportunity, get to one of Costa Rica’s zillion or so ATMs and withdraw colones from your U.S. bank account. At the current rate of exchange, c100,000 is about $200US. At the ATM, express your withdrawal in colones.
You’ll probably pay an ATM fee and maybe a foreign currency conversion fee, but you’ll always get the current (and correct) exchange rates. The money changers in the airports, some hotels and businesses, etc will gouge you terribly.
While here, plan to spend colones. That way, there will never be any question about the exchange rate and your transactions will go more smoothly because no one will have to be calling the bank to get the current exchange rate information.
You can also use your American debit and credit cards at many, many locations.
Do not bring Traveler’s Cheques. They take forever to clear, so the banks and merchants hate them. And if you try to cash them at a bank, they’ll have to call American Express to verify that they’re not stolen. Just resist the temptation.
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