THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA BOARD DECISION. 386-N July 29, 2005

Transcription

1 THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA BOARD DECISION 386-N July 29, 2005 ON APPROVING THE RULES FOR "TRANSPORTATION, DELIVERY, IMPORT, EXPORT AND DECLARATION OF CURRENCY VALUES" AND DECLARING VOID THE DECREE N 173 OF AUGUST 26, 1998 OF THE BOARD OF THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA. Based on 2 nd part of Article 5 of the Law of the Republic of Armenia on "Currency Regulation and Currency Control", Article 16 of the Law of the Republic of Armenia on "Legal Acts" and considering the necessity of improving the protection of stability of the financial system, prevention of financial risks, combating the circulation of criminally obtained funds and financing the terrorism, the Board of the Central Bank of the Republic of Armenia decides to: 1. Approve the Rules for "Transportation, Delivery, Import, Export And Declaration Of Currency Values" according to Annex 1 (is attached); 2. Upon this Decision entering into force, consider void the Decision N173, of August 26, 1998 of the board of the Central Bank of Republic of Armenia on approving and presenting to the Government of Republic of Armenia the Rules for "Exporting Foreign Currency in Cash and Securities Denoted in Foreign Currency by the Banks of the Republic Of Armenia And Branches Of Foreign Banks"; 3. This decision shall enter into force on the 10-th day following the day of publication. SIGNED BY THE CHAIRMAN OF THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA ON AUGUST 8, 2005

2 ANNEX 1 To Decision # 386-N, of July 29, 2005 of the board of the Central Bank of the Republic of Armenia RULES FOR TRANSPORTATION, DELIVERY, IMPORT, EXPORT AND DECLARATION OF CURRENCY VALUES These rules shall establish the relations related to the transportation, delivery, import, export and declaration of currency values and their rules and conditions. CHAPTER 1 GENERAL PROVISIONS 1.1. The terms used in these rules shall be interpreted according to terms stipulated by the Law of the Republic of Armenia on "Currency Regulation and Currency Control" Transportation, delivery, import, export and declaration of currency values by residents and non residents shall be unrestricted, unless otherwise prescribed by these rules. CHAPTER 2 TRANSPORTATION, DELIVERY, IMPORT AND EXPORT OF CURRENCY VALUES (2 nd chapter revises Decision #388-N, of ) 2.1 Individuals and legal entities (except banks, credit and collecting organizations) are entitled to export from Armenia, unless otherwise prescribed by the law, without any documents up to 5 million AMD and equivalent foreign currency in cash (the exchange rate shall be calculated based on average exchange rate for that day formed in the exchange market and announced by the RA Central Bank. If there is not exchange rate announced for that currency by the Central Bank, the exchange rate shall be calculated based on the exchange rate of that currency to

3 US dollar and exchange rate of Armenian dram to US dollar for that day) represented by banknotes and coins, and also payable securities. Export of Armenian dram and currency amounts exceeding the value defined by this Clause are completed by non cash method and the export of payable securities by completing a customs declaration. 2.2 Individuals and legal entities (except banks, credit and collecting organizations) and entrpreneurs, unless otherwise prescribed by the law, are entitled to import to Republic of Armenia without completing customs declaration, cash equivalent to 15,000 Euro (the exchange rate shall be calculated based on average exchange rate for that day formed in the exchange market and announced by the RA Central Bank. If there not exchange rate announced for that currency by the Central Bank, the exchange rate shall be calculated based on the exchange rate of that currency to US dollar and exchange rate of Armenian dram to US dollar for that day) represented by banknotes and coins, and also payable securities. Import of currency in cash exceeding the value defined by this Clause shall be subject to customs declaration. 2.3 Information to be filled in customs declaration stipulated by Clauses 2.1 and 2.2 of these rules is: 1) First name and last name, name of passenger (in case of cargo or post delivery, the sender), which shall be completed: a) for individuals- based on data available in passport or other trustworthy personal identification documents; b) for legal entities - based on data available in the charter or other trustworthy document. 2) Citizenship of passenger (in case of cargo or post delivery, the sender), which shall be completed only for individuals, based on data available in passport or other trustworthy personal identification documents; 3) Passport data of passenger (in case of cargo or post delivery, the sender), which shall be completed only for individuals and include the following data available in passport or other trustworthy personal identification documents:

4 a) serial number (in available) and number of the passport; b) date of issue of the passport; c) validity period of the passport; d) issuing authority; 4) Date and place of birth of the passenger (in case of cargo or post delivery, the sender) which shall be completed only for individuals, based on data available in passport or other trustworthy personal identification documents; 5) place of residence (living) of the passenger (in case of cargo or post delivery, the sender) which shall be completed; a) for individuals- based on data available in passport or other trustworthy personal identification documents; b) for legal entities - based on data available in the charter or other trustworthy document. 6) The type of currency values stipulated by Clause 2.2 of these rules being imported or exported, which shall include at least one of the following informative fields; a) "Cash (specifying the currency)"; this field shall be marked if the values being imported include cash banknotes. In this case the currency of cash shall be specified; b) "Payable securities (specifying the type)" this field shall be marked if the value of securities being imported or exported exceeds the limit. In this case the type of security, currency in which the security shall be denoted, the serial number and issuer shall be specified. 7) The amount of payable securities of currency values stipulated by Clause 2.2 of these rules being imported or exported, which shall be filled by estimate of total amount of currency values in dram. In case of importing cash banknotes the amount shall be filled in currency being imported. 8) In case of importing of currency values stipulated by Clause 2.2 of these rules, the country from where the currency values are being imported. Here shall be filled the country from where the individual, cargo or post is arriving and who/which imports (through where is being imported) currency values subject to

5 declaration. In case of transit of currency values stipulated by Clause 2.2 of these rules, the country of export shall be filled; 9) The date of completing the declaration, where the actual completion date shall be filled; 10) Signature of passenger (in case of cargo or post delivery, the sender) who transports (in case of legal entity, on behalf of person that authorized to transport) the declarable currency values and who completes the declaration. 2.4 Exporting or importing currency values exceeding the amount stipulated by Clauses 2.2 and 2.1 of these rules without completing customs declaration or providing incomplete or falsifying information, that is subject to be declared as stipulated by Clause 2.3 of these rules will result in liability stipulated by the legislation of the Republic of Armenia. CHAPTER 3 TRANSPORTATION, DELIVERY, IMPORT AND EXPORT OF CURRENCY VALUES BY THE BANKS OF THE REPUBLIC OF ARMENIA, BRANCHES OF FOREIGN BANKS AND CREDIT ORGANIZATIONS 3.1 The transportation, delivery and import to Republic of Armenia and export, transportation and delivery from Republic of Armenia by banks of the Republic of Armenia and branches of foreign banks (hereinafter banks) and also by credit organizations and collecting organizations shall be carried without volume or any other restrictions. (Clause 3.1 changes the Decision 388, of ) 3.2 If a bank or credit organization is participating in transportation, delivery and import to Republic of Armenia and export, transportation and delivery from Republic of Armenia of cash money exceeding the limit established by the Central Bank, then it shall be organized by the representative of the bank, credit organization or collecting service. The representative of the bank, credit organization or collecting service shall act based on the letter of authorization issued by its executive body.

6 3.3 The customs service shall be notified about transportation of currency values by the representative of the bank or collecting service at least 3 hours prior the start of crossing the border. 3.4 The representative of the bank, credit organization or collecting service shall present to appropriate unit of customs service the letter of authorization issued by its executive body, personal identification document and in case of exporting or importing cash money also the withdrawal order of the bank, credit organization or collecting service. The Representative of collecting service also shall present the agreement signed between the bank or credit organization and collecting service or other document proving the transaction (Act). 3.5 Upon presenting the letter of authorization a customs cargo declaration shall be completed according to customs clearance procedures. 3.6 Transportation of currency values through customs control zone and from bank or credit organization to customs checkpoint or from customs checkpoint to bank or credit organization shall be carried by collecting vehicle of the bank or credit organization or by the appropriate professional service. If for currency values there are time restrictions for crossing the customs border, the customs house shall implement the necessary control and clearance operations. 3.7 Examination of collecting bag shall be carried at place defined by the customs house, by the customs officer(s) in presence of representative of the collecting service and escorting (collection officer) person. 3.8 Examination of collecting bag shall be carried by the lead seal of customs house and the bank or credit organization (or collecting service). 3.9 The 2 nd copy (Sheet) of completed customs cargo declaration shall be returned to declaring person; the authorized representative of the bank or credit organization (collecting service) Te regulations deriving from these rules shall be posted at visible place in customs house.