SINGAPORE, April 19 — All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that value more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.
The Public Affairs Department of Singapore Police Force (SPF) said the current paper-based declaration will be discontinued on the same date.
Physical currency refers to coins and printed money while Bearer Negotiable Instrument (BNI) refers to a traveller’s cheque or any negotiable instrument such as bills of exchange, cheques or promissory notes, bearer bonds, money orders and postal orders.
“CBNI declarations aid Singapore’s efforts to combat criminal activity such as money laundering. Such requirements are common in many countries.
“The electronic CBNI declaration will be made available from 10 May, 2024 for travellers who are due to arrive in or depart from Singapore on or after 13 May, 2024,” the department said in a statement, Friday.
Travellers must complete their CBNI declaration before reaching Singapore’s checkpoints at the Immigration and Checkpoints Authority (ICA’s) website at https://go.gov.sg/cbnideclaration or on MyICA mobile application.
Submissions can be made up to three days prior to arrival or departure.
Travellers will receive an acknowledgement email upon the successful submission, which can be provided as proof of declaration to ICA officers when required.
— Bernama
