Exchange control
Travel-related transactions
Travelers and tourists crossing CEMAC borders, upon entry or exit, must declare to customs any currency, securities or valuables in an amount exceeding five million CFA francs.
Currency allocation :
CATEGORY |
AGAINST DAILY VALUE |
MAXIMUM AMOUNT
|
Tourists |
200 000 Fcfa |
5 000 000 Fcfa
|
Children (under 10 years old) |
100 000 Fcfa |
5 000 000 Fcfa |
Businessmen |
500 000 Fcfa |
5 000 000 Fcfa
|
Students/trainees |
|
5 000 000 Fcfa
(equivalent to 6 months scholarship plus tuition fees)
|
Civil servants/ government employees (official missions) |
Mission fees paid + proof of payment |
5 000 000 Fcfa
|
Travel for medical treatment |
250 000 Fcfa |
5 000 000 Fcfa Or higher amount + proof
|
Other reasons (sports meetings, participation in exhibitions, fairs, participation in seminars or international meetings in a personal capacity, pilgrimage, etc.)
|
200 000 Fcfa |
5 000 000 Fcfa
|
Nb: Resident and non-resident travelers going from one CEMAC member country to another may carry an unlimited amount of CEMAC banknotes and coins.
Supporting documents to be presented by travelers:
In all cases, for amounts exceeding the above limits, any justified request will be satisfied.
Importing foreign currency
Resident and non-resident travelers may import into CEMAC bills and currencies issued by any other issuing institution. However, the amount of these imports must be declared to the customs services.
When leaving the CEMAC, non-resident travelers may take with them foreign currency or any other foreign means of payment up to the amount they declared when they entered the CEMAC.
If they did not make any declaration upon entry or if they bring in sums greater than their own contributions, they must justify the source for amounts greater than five million CFA francs, namely
Gold transactions:
CEMAC residents are free to hold, buy and sell gold and precious stones in all forms within the CEMAC zone.
The import and export of gold and precious stones outside CEMAC is subject to authorization by the relevant authorities.
Imports and exports of manufactured items containing a small amount of gold (such as dubbed or plated items) are exempt from prior authorization.
Enforcement:
The declaration of imported or exported valuables and means of payment is made at the customs border, at the time of their import or export.
When an infringement is committed or established at the customs border, the infringement will be established by the customs officer in charge of collecting the fines relating to the infringement, who will be required to issue a receipt indicating the nature of the infringement and the amount of the fine. This receipt, which may allow the offender to contest the penalty, must be entered in a register provided for this purpose.
In the event of failure to use an approved intermediary to carry out a foreign exchange transaction for an amount exceeding five million CFA francs, a fine equal to 40% of the transaction will be levied against the traveler.
Any false declaration or failure to declare will result in the payment of duties and taxes and possible penalties. If you tell the customs officer that you have nothing to declare, and the officer discovers that you have a large amount of cash, or that the amount you declared is less than the amount discovered, you will be in violation of the law and liable to a fine in addition to the amount collected by the customs services in the event of failure to justify the origin and transportation of the money.