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Travelling to the US and bringing money

Warren, MI |

I will very soon get my green card through consular processing, then I will come and live permanently in the USA. My question is that I want to bring some money with me from my savings of my current job. The problem is that I don't have a bank account in the US. I know that I am allowed to bring only 10K on me. What are some options that you can advise when it comes to traveling to the US and bringing money. Thanks for any valuable tips.

Attorney Answers 5

Posted

When moving money from one country to another, you need to comply with the laws of both countries.

The answer above is only general in nature and cannot be construed as legal advice, given that not enough facts are known and detailed research has not been undertaken. It is your responsibility to retain a lawyer to analyze the facts specific to your particular situation in order to give you specific advice. Specific answers require an investigation into all facts about your case. Any answers offered on Avvo are of a general nature only and are not meant to create an attorney-client relationship. Use these answers at your own risk.

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Posted

Talk to a CPA (Certified Public Accountant) in the USA to assist with this matter.

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Asker

Posted

Ok Thanks for your answer.

Posted

There is no limit to the amount of money in cash you can bring in with you, and you will not be "taxed" on it. You must, however declare any amount over $10,00O to what used to be "US Customs" and is now the CBP at the airport. They will have you fill out a Form, count the money and even give you an armed CBP escort put of the airport to a car which will be hopefully waiting to whisk you away.

Behar Intl. Counsel 619.234.5962 Kindly be advised that the answer above is only general in nature cannot be construed as legal advice, given that not enough facts are known. It is your responsibility to retain a lawyer to analyze the facts specific to your particular situation in order to give you specific advice. Specific answers will require cognizance of all pertinent facts about your case. Any answers offered on Avvo are of a general nature only, and are not meant to create an attorney-client relationship.

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Posted

What if I bring only 10 thousands, do I have to declare it? I can bring 10K with me and transfer the other amounts from my local bank in my country to my American bank once I have one. It is a hassle as most banks refuse to open a bank account without a proof of address and as a recent LPR I would not have an address immediately in the US and that's a big gap in their system.

Giacomo Jacques Behar

Giacomo Jacques Behar

Posted

You have to declare anything over $10,000. I understand the "hassle" all this involves all to well.. Please do not forget to designate "Helpful" and "Best Answer" to this question.

Posted

None. This is not really an immigraiton question for two reasons . FIrst, as far as the immigration aspect of your quesiton is concerned, you already know the answer. The issue of taxes may be involved so you need to contact a tax attorney before you do anything

NYC EXPERIENCED IMMIGRATION ATTORNEYS www.myattorneyusa.com; email: info@myattorneyusa.com; Phone: (866) 456-­8654; Fax: 212-964-0440; Cell: 212-202-0325. The information contained in this answer is provided for informational purposes only, and should not be construed as legal advice on any subject matter.

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But it's a money earned outside the US and before being an LPR. I am a person that complies by the laws. Logically, I will be an LPR once I step inside the US, so I don't think I will be subject to taxation, but I will consult a lawyer anyway, Thank you.

Alexander Joseph Segal

Alexander Joseph Segal

Posted

I get it, but the source of the income in this terror stricken time is always an issue. This is why, I would disagree with my colleagues that it is safe to bring in more than 10K, Better transfer from bank to bank and be ready to explain where the money came from. I would still consult with a tax attorney just in case, on the tax issue.

Posted

I would suggest you speak with a CPA and would be pleased to refer you to one or have you engage my firm and we engage the CPA to maintain the attorney client privilege.

To the PROSPECTIVE client, please call myself or another attorney for your choice with more detaiils and an appointment. My PRELIMINARY answer to your question(s) is for general purposes and based upon what little information you have conveyed. It is based on such limited information that the general answer should never be relied as a reason for your action or inaction. My response does NOT establish an attorney-client relationship and such may only be established by mutual agreement, and the signing of a written retainer agreement, which will generally require payment for our services, as this is what we do for a living and, just like you, we must get paid for our work.. .

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Posted

What would a CPA do in this case?

John F. Brennan

John F. Brennan

Posted

A CPA could potentially give you counsel regarding compliance with the foreign countries cash exportation rules, or where to deposit the money so we can be later brought into the US. Additionally it would provide a record that the funds brought in were not income made in the United States and therefore should not be taxable as United States income later discovered to exist on an audit.

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