How Much Cash Can You Legally Carry?

At SGM Abogados, we are committed to guiding our clients through the complexities of financial regulations in Spain. Understanding the legal constraints on handling cash is crucial for individuals and businesses alike. Below, we detail the regulations pertaining to carrying, depositing, and traveling with cash within and outside of Spain.

Carrying Cash in Spain: Spanish anti-money laundering and terrorist financing laws cap the amount of cash one can carry at €100,000. Should you need to transport this amount, it must be declared to the Treasury using the S1 form, a document that informs the Tax Agency of monetary movements.

You can obtain the S1 Form HERE

For everyday transactions, please note the recent legislative change reducing the cash payment limit from €2,500 to €1,000, necessitating that any amount above this be settled through non-cash methods.

Travelling With Cash: When traveling internationally from Spain, you are allowed to carry up to €10,000 without declaration. The same limit applies to entering Spain with cash from abroad. However, transporting €10,000 or more requires the completion and submission of the S1 form. Within Spain’s borders, the permissible limit matches the general cash carrying limit of €100,000.

Depositing Cash in Banks: Deposits up to €10,000 can be made in Spanish banks without mandatory declaration. It is important to note that deposits exceeding €3,000 will trigger an automatic notification to the authorities by the bank.

Storing Cash at Home: Legally acquired money may be stored at home in any amount. There is no specific regulation against this practice, provided that you can demonstrate the legality of the funds when required.

Penalties for Non-Compliance: Failing to adhere to these regulations can lead to significant financial penalties. To avoid fines, always carry the S1 form when moving large sums of money. Undeclared funds can be confiscated by authorities, and fines may range from €600 to twice the amount of the undeclared money.

Our team at SGM Abogados remains available to assist you with any further inquiries or guidance on managing your cash in compliance with Spanish law.