Quevedo & Ponce - Legal News
Asset Regulation for Travelers under the Organic Law for the Prevention, Detection, and Eradication of Money Laundering and Crime Financing.
- July 30th, 2025
- Quevedo & Ponce
The National Customs Service of Ecuador (SENAE) has issued an official statement, dated July 12, 2025, informing citizens about a significant modification in asset regulation for travelers. Starting July 29th, the declaration of the Customs Registration Form (FRA) will be mandatory for passengers or crew members entering or leaving the country with certain goods subject to declaration.
This provision is adopted in compliance with the Organic Law for the Prevention, Detection, and Eradication of Money Laundering and Crime Financing. The main objective is to strengthen financial transparency and contribute to the fight against money laundering and financing of illicit activities.
What Assets Must Be Declared?
The declaration obligation applies to cash, bearer negotiable instruments, precious metals, and stones whose value is equal to or exceeds Ten Thousand United States Dollars (USD 10,000) or their equivalent in other currencies. This includes, but is not limited to, checks, traveler’s checks, money orders, bonds, shares, gold, and precious stones.
Who Must Declare?
This regulation is universally applicable to every natural or legal person, Ecuadorian or foreign, who enters or leaves the national territory. The declaration is mandatory both upon entering and leaving the country.
How to Declare
The declaration will primarily be done online. Travelers can access the Customs Registration Form (FRA) through the official SENAE website: https://www.aduana.gob.ec/servicio-al-ciudadano/formulario-de-registro-aduanero/login/. In exceptional cases, it may still be submitted in physical format.
Consequences of Non-Declaration:
Failure to comply with this obligation can lead to the temporary retention of undeclared values exceeding the permitted threshold and the imposition of a fine. The fine can be 30% of the total undeclared or erroneously/falsely declared values. Furthermore, the omission of declaration may result in deeper investigations by the competent authorities regarding money laundering prevention.
Purpose of the Regulation:
This regulation is a fundamental tool for authorities in identifying and tracking illicit capital flows. By requiring the declaration of large sums of money and other assets, the ain is to prevent money laundering and terrorist financing, increase transparency in cross-border financial transactions, and detect illicit economic activities.
At Quevedo y Ponce, we have a specialized team in customs law. If you are planning a trip with significant sums of cash or negotiable instruments, or need advice on complying with these provisions, our team is prepared to guide you and ensure your operations are carried out within the current legal framework. Contact us for personalized advice!
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