ZIMRA update: Importation and exportation of currency by travellers
The importation and exportation of currency into and out of Zimbabwe is governed by the Reserve Bank of Zimbabwe (RBZ) in terms of the Exchange Control Act [Chapter 22:05] as read with Exchange Control Regulations Statutory Instrument 109 of 1996 as read with Statutory Instrument 93 of 2017.
The importation of any currency into Zimbabwe by travellers is not restricted. This implies that any person can bring in any amount of currency into Zimbabwe.
However, all travellers are encouraged to complete a Customs Declaration Form (Form 47) and declare the currency in their possession at the time of entry.
The processed declaration form may be used:
• To support re-export of any balance of currency (for non-residents) at the end of the visit to Zimbabwe should it exceed the allowed export thresholds which are currently two thousand united states dollars or its equivalent in any other currency including Zimbabwean bond notes and coins.
• For Acquittal of C.D.1 forms in the case of exporters of goods.
• As proof of the source of funds in some instances where the proof is required.
The exportation of currency from Zimbabwe is restricted.
Statutory Instrument 93 of 2017 s14….…”the amount of currency that a person who is about to leave Zimbabwe may possess, without authorization in terms of section 22 of the principal regulations in the departure or transit lounge of an airport or other port, is a total of two thousand United States dollars, or its equivalent in any or combination of currencies or in bond notes or coins’’…
Please note that the amount of currency that a person who is about to leave Zimbabwe may possess, without authorisation in the departure lounge of an airport or any other port is a total of USD$2000 in any currency or combination of currencies or in bond notes or coins.
By Non-Zimbabwean Residents
Non-Zimbabwean residents who have currencies above the allowable threshold may be allowed to export the amount equal to or the balance of declared currencies upon arrival. Any excess currency found in possession of travellers without authority shall be seized and may be forfeited to the State.
By Zimbabwean Residents
Zimbabwean residents who have currencies above the allowable threshold may be allowed to export currency only with the authorization from The Reserve Bank of Zimbabwe. In the event that the traveller does not have such an authorisation, no exportation maybe allowed regardless of the fact the currency was declared upon arrival.
All travellers leaving Zimbabwe are urged to strictly adhere to the limits. Any excess currency found in possession of travellers without authority shall be seized and may be forfeited to the State.
This article was compiled by the Zimbabwe Revenue Authority for information purposes only. ZIMRA shall not accept responsibility for loss or damage arising from the use of the material in this article and no liability will attach to the Zimbabwe Revenue Authority.