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ORDER ETD/1217/2022

23 Jan 2023 FinTech

In view of the necessity to adjust Spanish regulation to the information requirements demanded by the European Union in Regulation 2018/1672, regarding controls on the entry or exit of cash from the EU, last December 08, 2022, the new order ETD/1217/2022, of the Ministry of Economic Affairs and Digital Transformation, was published in the B.O.E. (Spanish Official Gazette). Its main purpose is to regulate the declarations regarding the movement of means of payment in the field of prevention of money laundering and terrorist financing, as required by arts. 3 and 4 of the aforementioned Regulation.

The means of payment may be originated from or destined to a Member State of the European Union or a non-EU Member State. In both cases, amounts equal to or greater than €10,000 must be declared when they are carried by a natural person. However, if the means of payment are not accompanied by a natural person, amounts equal to or greater than €10,000 must be declared only in the case of EU member countries. On the other hand, if the means of payment come from or is destined to a non-EU country and, in addition, is part of an unaccompanied consignment, the amount to be declared must be equal to or greater than €100,000.

Movements through national territory, without exits or entries, whether accompanied or not, must be declared when their amount is equal to or greater than €100,000. Exempt from the obligation to declare are those individuals acting on behalf of companies that, duly authorized and registered by the Ministry of the Interior, carry out activities of professional transport of funds or means of payment, except in the case of movements in and out of the European Union.

The order, which will entered into force on December 28th of last year, introduced the following forms:

Form S-1: to declare means of payment movements when these are carried by natural persons, both within the national territory (which includes movements with preceding exit from the territory), and in case of exit or entry into national territory to or from a Member State of the European Union.

Form S-2: to declare movements of unaccompanied means of payment. As in the case of form S-1, it will be used for entry or exit movements from European Union member states or movements within the national territory.

For the rest of movements subject to declaration, or specifically, those of entry or exit, originating from or destined to non-EU countries, the forms to be used will be those already introduced by the Commission when implementing Regulation (EU) 2021/776 of May 11, 2021. These are models E-1 (accompanied means of payment) and E-2 (unaccompanied means of payment). It is important to note that if a movement through national territory is preceded by an entry into Spain of means of payment that are originated from a State that is not part of the European Union, these must be declared on a single form, either E-1 or E-2, as appropriate.