How much undeclared money can be brought into Mexico?
When entering Mexico from abroad you are required to comply with all the requirements requested by the Customs authorities, such as presenting a valid passport and entering with the amount of money allowed in the country, unless it is declared. Mexican authorities limit the amount of merchandise and money that can be entered without paying taxes.
For example, when leaving or arriving in Mexico on a plane or ship, the tax exemption is $500 in goods that can be entered. When traveling by road, up to 300 dollars in goods are admitted, but during the Paisano Program operation, it increases to 500 dollars.
People who reside in the border region with the United States can enter Mexico with up to 150 dollars in merchandise in their personal luggage, without paying taxes, when traveling by road.
As for money, travelers can enter and leave Mexico with a maximum of 10 thousand dollars or its equivalent in another currency. This amount is valid in cash, national or foreign checks, documents to collect and payment orders, or a combination of any of these.
All travelers must fill out the form specifying that they are carrying an amount greater or less than 10 thousand U.S. dollars.
In case of answering that the person is traveling with a higher amount, the person will have to complete the Declaration of Entry or Extraction of Cash Amounts of Documents to Collect, as indicated by the Tax Administration Service (SAT).
The declaration of money can be made upon arrival at one of the ports of entry and exit of the country or through the Internet at https://www.portalsat.plataforma.sat.gob.mx to speed up the process.
What happens if I do not declare the money I enter Mexico?
If you enter or leave the country with more than 10 thousand dollars and do not declare it, you could be subject to a fine equivalent to between 20 and 40 percent of the amount of the allowed amount.
If the amount of money exceeds 30 thousand dollars, the penalty could be "three months to six years in prison and the excess will become the property of the federal treasury" unless it is proven that the origin of the resources is lawful, says the Ministry of Finance and Public Credit.
Those who do not prove a legitimate origin, the penalty would be between five and 15 years in prison and between one thousand and five thousand days of fine.