#2011-1920Adaptation of Monetary and Customs Codes Following Saint-Barthélemy's EU Status Change
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This law updates France's monetary and customs codes to reflect changes in the status of Saint-Barthélemy regarding the European Union. It clarifies financial declaration requirements for transfers to and from Saint-Barthélemy, specifies monetary regulations applicable to the island, and outlines customs jurisdiction. Business and individuals in Saint-Barthélemy must comply with new requirements on overseas financial transactions, while customs enforcement will operate under revised territorial definitions around Saint-Barthélemy.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Saint-Barthélemy is removed from certain regulatory texts about overseas departments.
- Monetary and customs regulations for financial declarations are updated.
- Specific financial and customs provisions are introduced for Saint-Barthélemy.
Obligations
What this law requires
Physical persons in Saint-Barthélemy must declare all sums, securities, or valuables transferred to or from abroad without intermediation of regulated financial organisms, for each transfer exceeding €10,000
Failure to declare financial transfers as required under Article L. 771-1 results in a fine equal to one-quarter of the amount subject to infraction or attempted infraction
Customs authorities must impound the total amount involved in detected financial declaration infractions for up to 6 months (renewable for up to 12 months total with prosecutor authorization)
Impounded sums may be confiscated by competent jurisdiction if evidence establishes the violator possessed objects suggesting involvement in customs code infractions or if there are plausible grounds to believe they committed such infractions
Financial declaration obligations do not apply to transactions between Saint-Barthélemy and mainland France, Guadeloupe, French Guiana, Martinique, Réunion, Saint-Martin, Saint-Pierre-et-Miquelon, Mayotte, Wallis and Futuna, New Caledonia, and French Polynesia