PENALTY FOR NON-DISCLOSURE OF 60,000 SAR OR MORE WHILE TRAVELING

Asem Al-Issa, a finance lawyer, while in conversation with the Al-Ikhbariya Channel stated that it is mandatory for travelers to disclose the amounts in their possession while travelling. This is applicable to expats and Saudi nationals as well. If an individual is travelling but fails to disclose a legitimate source of the 60,000 SAR or more in possession, then he will be penalized with a fine of up to 25% of the amount for the first time and 50% for the second time.

He also added that the traveler has to prove the source of the money and that it is legitimate, otherwise there will be a suspicion of money laundering.

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