Hong Kong Customs Reminds Exhibitors of JGW September About Statutory Requirement to Submit Cash Transaction Report under Dealers in Precious Metals and Stones Regulatory Regime

Hong Kong Customs reminds non-local jewellery exhibitors about statutory requirement to submit cash transaction report under Dealers in Precious Metals and Stones Regulatory Regime

JGW September (Jewellery & Gem World Hong Kong September) will be held from tomorrow (September 14) to September 18 at AsiaWorld-Expo and from September 16 to September 20 at Hong Kong Convention and Exhibition Centre. Hong Kong Customs reminds exhibitors that according to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), unless exempted, any person who is seeking to carry on a business of dealing in precious metals and stones and engage in any transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 in Hong Kong is required to register with Hong Kong Customs and fulfil his/her anti-money laundering and counter-terrorist financing statutory obligations as appropriate. All dealers in precious metals and stones must successfully obtain a relevant registration before they can carry out any cash or non-cash transaction(s) with a total value at or above HK$120,000.

For non-Hong Kong dealers in precious metals and stones fulfilling the prescribed conditions (including those who come to Hong Kong to participate in exhibitions), although they are exempt from registration, they are required to submit to Hong Kong Customs a cash transaction report for any cash transaction(s) (whether making or receiving a payment) with a total value at or above HK$120,000 carried out in Hong Kong within one day after the transaction, or before the dealer or the person acting on behalf of the dealer leaves Hong Kong, whichever is earlier.

Non-Hong Kong dealers can make an online submission of a cash transaction report via the Dealers in Precious Metals and Stones Regulatory Regime's (the Regime) webpage at www.drs.customs.gov.hk by accessing the Dealers in Precious Metals and Stones Registration System. For details, please refer to relevant procedures.

Non-Hong Kong dealers can also download the related form and then submit the completed report by fax at (852) 3568 4395 or in person at the Dealers in Precious Metals and Stones Supervision Bureau during office hours (Address: Unit 3501, 35/F, Skyline Tower, 39 Wang Kwong Road, Kowloon Bay, Kowloon).

Dealers can visit relevant website for more information about the Regime.

Hong Kong Customs, Photo source: reference image

Hong Kong Customs detects suspected case of illegal importing of animal

Hong Kong Customs today (September 13) detected a suspected case of illegal importing of animal at the Lok Ma Chau Spur Line Control Point. A suspected illegally imported live cat with a total estimated market value of about $25,000 was seized.

Customs officers today intercepted a 61-year-old incoming Mainland male passenger at the Arrival Hall of the said Control Point. Upon examination, a live cat was seized from his personal belongings, and he was subsequently arrested. The case was handed over to the Agriculture, Fisheries and Conservation Department for follow-up investigation.

Customs reminds the public that importing animals into Hong Kong without a valid permit is an offence.

Under the Rabies Regulation, any person found guilty of illegally importing animals, carcasses or animal products is liable to a maximum fine of $50,000 and imprisonment for one year.

Hong Kong Customs today (September 13) detected a suspected case of illegal importing of animal at the Lok Ma Chau Spur Line Control Point. A suspected illegally imported live cat with a total estimated market value of about $25,000 was seized. Photo shows the suspected illegally imported live cat seized. Source: HKSAR Government Press Releases