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How much INR and SGD is allowed from India to Singapore?

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Akashrai
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How much INR and SGD is allowed from India to Singapore?

Postby Akashrai » Thu, 12 Jun 2014 6:54 pm

Hello
Can someone please tell me that how much INR and SGD can be carried while travelling to visit Singapore from Mumbai (India)?
What is the maximum limit for only SGD if I convert INR to SGD in India itself?
What is the maximum limit for only INR?
What is the maximum limit if taken both SGD and INR into consideration & I carry both in 50:50 ratio?


Kindly help.[/color]
:)

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nakatago
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Postby nakatago » Thu, 12 Jun 2014 7:10 pm

As a general guideline, the equivalent of 10,000.00 USD total for most international borders.

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Postby Akashrai » Thu, 12 Jun 2014 7:30 pm

What are general Guidelines? Where you can see those
Every country has their own laws as far as I know

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taxico
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Postby taxico » Thu, 12 Jun 2014 8:43 pm

Akashrai wrote:What are general Guidelines? Where you can see those
Every country has their own laws as far as I know


there should be no "limit" for most countries - just declare it. as long as the source of your money is legitimate you will be alright.

the reporting limit for singapore is > SGD$30k or equivalent (in total, including stuff like traveler's checks, bearer bonds, etc). that amount is about US$24k.

if you're bringing in sums like a few hundred thousand (or perhaps even tens of thousands) dollars in cash for a 1 day stop-over, be prepared to be detained and interviewed.

there are penalties for concealment or non-declaration, of course. the laws are to combat money laundering/criminal financing, not money obtained legitimately and to be spent lawfully.
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taxico
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Postby taxico » Thu, 12 Jun 2014 8:45 pm

Akashrai wrote:What are general Guidelines? Where you can see those
...


try http://www.changiairport.com/passenger- ... rting-cash

and (under Currency) http://www.ica.gov.sg/page.aspx?pageid=98

and (the organisation that investigates such cases + whole bunch of info including forms) http://www.cad.gov.sg/content/cad/en/re ... d-bea.html
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Postby BillyB » Fri, 13 Jun 2014 10:32 am

taxico wrote:
Akashrai wrote:What are general Guidelines? Where you can see those
Every country has their own laws as far as I know


there should be no "limit" for most countries - just declare it. as long as the source of your money is legitimate you will be alright.

the reporting limit for singapore is > SGD$30k or equivalent (in total, including stuff like traveler's checks, bearer bonds, etc). that amount is about US$24k.

if you're bringing in sums like a few hundred thousand (or perhaps even tens of thousands) dollars in cash for a 1 day stop-over, be prepared to be detained and interviewed.

there are penalties for concealment or non-declaration, of course. the laws are to combat money laundering/criminal financing, not money obtained legitimately and to be spent lawfully.


A bit OT, but most banks have a reporting process to the local tax office that is triggered when someone withdraws the equivalent of $10k USD.

More fantastic Friday facts next week......

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Postby taxico » Sat, 14 Jun 2014 12:44 am

BillyB wrote:
taxico wrote:...there are penalties for concealment or non-declaration, of course. the laws are to combat money laundering/criminal financing, not money obtained legitimately and to be spent lawfully.


A bit OT, but most banks have a reporting process to the local tax office that is triggered when someone withdraws the equivalent of $10k USD.

More fantastic Friday facts next week......


not just that, but changing money in excess of 5k sgd triggers an MAS notification/registration - ID must be provided and logged into their system by the money changer.
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