This is for people who travel outside of the country during a pandemic, even though they can still cross borders. Visa is needed. Cryptocurrency is a new idea that people can use to show that they have enough money to live abroad.
As a way to protect their people from COVID-19, many countries around the world have closed their borders to people from outside. People who want to stay for a long time can still come to some countries through immigration. This includes students, retirees, and people who want to stay for many years. As a rule, applicants must show that they can pay for their own living and won’t work illegally.
Bank statements are usually part of this proof of funds or evidence of funds. It can change, but it usually includes a letter from the bank. It also comes with a line of credit, or a deposit of money in the bank. However, some of the world’s 195 recognized governments have said that they might accept cryptocurrencies as proof of money skills. If and only if there is enough money.
Press Release from UK
People who want to study in the United Kingdom can’t get a student visa with Bitcoin money they have. If you want to show that you have money, show it with a bank statement from a country in the Schengen area. Schengen is a group of 26 other European countries. However, immigration officials said that there was nothing in the law that would stop people from using crypto to meet this requirement, so they could.
People who want to move to New Zealand can show that they have money by using cryptocurrencies as proof of funds. They will, however, have to show how much money they have and who owns it. They may be able to show more traditional forms of money if they want Visa.
Crypto-assets as Proof of Income
According to Laura Bernard, bank documents or proof of income were regularly required in the process. As a result, estimating how much money you’ll need to prove is difficult because each visa application is unique. This means that consulates may accept other types of verification, such as crypto-assets, if appropriate for the applicant’s journey.
Brian Quarmby, a cryptocurrency owner, showed a consular officer his crypto portfolio. He also shows his salary history, and some cash to acquire his wife a visa to move abroad. This was part of his application. The country has recently opened to a modest number of foreign students and business travelers.
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