Cost of Living
Is it illegal in Portugal to hold €10,000 in cash?
New EU Regulation 2024/1624 limits cash payments for goods and services to €10,000 from 10 July 2027, but this does not ban the possession or transport of cash. Crucially, the rule exempts private, non-professional transactions. In Portugal, existing national law already limits cash transactions between private individuals to €3,000, which remains in effect and is more restrictive than the upcoming EU rule.
Why it matters
If you are planning large private transactions in Portugal, you must still comply with the existing national €3,000 limit for cash payments, as the upcoming €10,000 EU ceiling does not override or loosen stricter national rules.The Portugal NewsRead original ↗
