Immigration to Germany | HEUSER RECHT UND STEUERN
06 • www.heuser.de
Reporting
Obligations
Attention should also be paid
to reporting obligations for
international transactions.
Incoming and outgoing payments from
or to abroad must be reported to the
Federal Bank of Germany (Deutsche
Bundesbank) if they amount to €12,500
or more. This includes cash and
debit payments, cheques and bills of
exchange as well as foreign transfers,
nettings and set-offs. Every natural
or legal person, residing in Germany is
obliged to report these payments by the
7th calendar day of the following month.
Companies have to subscribe to the
registration portal AMS for this purpose.
In accordance with the Federal Act of
Foreign Trade (Außenwirtschaftsgesetz;
AWG) in conjunction with Section
67 et seq. Foreign Trade Ordinance
(Außenwirtschaftsverordnung; AWV)
an offence against this obligation is
punishable by a fine of up to €30,000.
