Algeria: New Regulations on Currency Declaration by Travelers Enforced as of July 20, 2024

✏️ BY: Dr. Hana Saada

Algiers, Algeria | August 2nd, 2024 — Effective July 20, 2024, new regulations governing the declaration of currency by travelers have been implemented, as announced in the Official Gazette No. 51. This regulation, issued under the authority of Finance Minister Laaziz Faïd, outlines the procedures for declaring currency, including both national and foreign denominations, that exceeds the threshold established by current laws.

Key Points of the New Regulation:

• Declaration Requirement: All travelers, whether residents or non-residents, must declare any currency amount exceeding the legislative threshold. This includes banknotes, coins, bearer instruments, commercial effects, and other negotiable instruments or securities.
• Declaration Process: Declarations must be completed electronically before arriving at a customs office. Alternatively, travelers can complete the declaration in writing at the point of entry or exit, using forms provided in Annexes I and II of the decree. The forms must be fully filled out and signed.
• Submission Location: Declarations should be submitted at the customs office upon entry or exit from the national territory. This must be done before crossing designated customs control points.
• Validity and Documentation: Each declaration form is valid for a single trip. At the time of departure, travelers must present a bank debit notice for foreign currency withdrawals from an Algerian account or obtain authorization from the Bank of Algeria if the currency amount exceeds the regulatory threshold.
• Additional Requirements for Non-Residents: Non-residents exporting unused foreign currency must present a declaration form validated by the Bank of Algeria, an authorized bank, or a licensed currency exchange office. Customs officers will inspect the declared amounts.
• Database and Enforcement: The customs administration will maintain databases of declared currencies for national and international cooperation. Non-compliance, including failure to declare, presentation of undeclared amounts, or false declarations, will be subject to penalties under existing legislation.

These new regulations are designed to streamline customs procedures and enhance monitoring of currency movement across borders, aiming to ensure compliance and mitigate financial crime risks.

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