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Meggers

Dealing with controlled currency

By Meggers in Tax & Finances During US Immigration

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Meggers Apprentice

Meggers   0

Posted
Filed: Country: Venezuela
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My fiance is from Venezuela and we are trying to figure out the best way to transfer his finances to USD. I understand that it is best to have documentation of the source of the money and I will be double checking with a lawyer but I am hoping someone here might have first hand experience that you could share. I have two questions:

1. Does anyone have experience with transferring funds from Bolivar Fuerte to US dollars? If so please share your story.

2. Does anyone know USA laws about exchanging currency peer to peer?

Thanks in advance.

Jose Garcia Apprentice

Jose Garcia   1

Posted
Filed: K-1 Visa Country: Venezuela
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Posted

1 You agree with someone in Vzla an exchange rate, give them the BS.F in cash or transfer within Vzla and you get the Dollars/Euros in an account in the US/Europe (more likely from an account that person has outside Vzla).

2 You just have to prove the source of your funds.

Long time ago, I came to the US with US$45,000+ in cash. Declared it at point of entry. US custom asked me why so much cash and the source of it. I explained (there was a different currency exchange control in those days) and just told me "be careful with all that money"...

 
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