Hacienda recently announced that it was fixing its attention on the amount of cash you can carry legally.

In Spain the maximum amount of money you carry around on you is defined by the Ley 10/2010, de 28 de abril, which was put in place to prevent money laundering and the financing of terrorism. The amount was set at 100,000 euros.

If you want to physically move that amount or more then you will have to declare your intention and be able to produce documents that clarify its origin should you be stopped.

As far as keeping cash at home goes, it is perfectly legal as long as it has a legal origin; i.e., it has been declared within you tax declaration. That doesn’t mean that you have to declare how much money you have at home, but that its origin is traceable through your tax declaration.

The fact is that it is becoming harder to use cash for large transanction and even paying for your coffee can now be done using your mobile phone or wrist watch.

Hacienda keeps a tab on certain large-denomination, bank notes and cash amounts paid into your account for 3,000 euros or over – your bank branch is obligated to report the transaction to Hacienda. But that’s not all, regular amounts paid in using cash also generates a red flag in the Hacienda offices.

Finally, transfers over 10,000 euros or loans over 6,000 are also monitored by that wonderful institution, Hacienda.

(Spain)