visa (6do encyclopedia)



Visa is a document or endorsement stamped in a passport, indicating that the holder has been granted permission by the government of a specific country to enter and stay for a defined period. Visas are issued by the embassy or consulate of the country of destination, and each country has its own visa regulations, fees, and processing times.

Types of Visas:
There are various types of visas, including tourist visas, work visas, student visas, diplomatic visas, transit visas, and business visas. The type of visa required depends on the purpose of the trip, the length of stay, and the applicant’s nationality.

Tourist Visas:
Tourist visas allow visitors to travel to destinations for leisure purposes, such as visiting friends or family, exploring tourist attractions, or attending a conference. These visas usually have a limited validity period, and visitors are not permitted to take up employment or engage in any income-generating activity.

Work Visas:
A work visa is required for non-citizens seeking employment in another country. These visas allow the holder to work in the host country for a specified period. Depending on the rules of the host country, the employer may be required to obtain a work permit or labor certification to hire a foreign worker.

Student Visas:
A student visa is required for non-citizens attending an educational institution in another country. Such visas are typically issued for the duration of the academic program and may require students to demonstrate their intention to return to their home country after completing their studies.

Diplomatic Visas:
Diplomatic visas are issued to foreign nationals who intend to travel to another country on official government business, such as diplomats, embassy employees, and consular officials. These visas often have more relaxed requirements compared to other types of visas and enable visitors to bypass certain immigration restrictions.

Transit Visas:
Transit visas are issued for short-term visits to another country with the sole purpose of transit to a third country. These visas are usually valid for a few days and only permit travelers to remain within the transit area of an airport or seaport.

Business Visas:
Business visas allow non-citizens to travel to other countries for business-related activities, including attending meetings, conferences, and exhibitions. Business visas often require supporting documentation, such as a letter of invitation from the host company or proof of business activities.

Visa Requirements:
Each country has its own visa requirements, which may include form filling, supporting documentation, and fees. Visa applications may require personal information such as passport details, employment history, educational qualifications, and financial statements. In some cases, visa applicants may also need to complete a medical examination and provide police clearance certificates.

Visa Processing:
Visa processing times can vary depending on the destination country. In some cases, visas can be issued upon arrival, while in other cases, the processing times may take several weeks, or even months. It is essential to apply for a visa well in advance of your intended travel date to avoid any delays or disappointments.

Visa-Free Travel:
Certain countries have visa-free travel arrangements, allowing nationals of specific countries to enter without a visa. The duration of stay and purpose of travel may be regulated. Visa-free countries tend to have specific conditions, and it is essential to check the visa requirements before traveling.

Visa Renewal:
Visas usually have an expiration date. If you wish to stay longer than the validity of the visa, you may need to renew it. The renewal process may require reapplication, fees, and supporting documents. In some cases, renewals may have a shorter validity period than the original visa.

Conclusion:
A visa is an essential document that allows foreigners to enter and stay in another country. There are several types of visas, each with its own application requirements, processing times, and conditions. Visa-free travel arrangements allow nationals of specific countries to enter other countries without a visa. Renewal of a visa may be necessary to continue a stay beyond the visa’s expiration date. It is essential to check visa requirements well in advance of travel to ensure a hassle-free journey.


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Russia's VTB leads Moscow's efforts to strengthen banking presence in Iran

Reuters

23-05-17 11:11


VTB, Russia's second-largest bank, has opened a representative office in Iran as the country looks to recover from its $7.7bn loss last year due to Western sanctions. Tehran has been planning for months to accept Russia's Mir payment cards as Moscow tries to strengthen its financial ties with Iran to reduce foreign transfer costs. Other Russian banks including Sberbank and Promsvyazbank are also considering operations in Iran as the two nations deepen their economic ties.

https://www.reuters.com/business/finance/russias-vtb-leads-moscows-efforts-strengthen-banking-presence-iran-2023-05-17/
Fintech innovation could mean the end of traditional business banking

The Independent

23-05-17 14:20


Fintech companies are forcing traditional US banks to upgrade their services if they want to keep small- and medium-sized enterprise customers, as many SMBs look online for faster, cheaper and easier payment services, The Business Reporter reported. Customers are looking for easy-to-use credit lines, deposit accounts and other banking products, all of which can be delivered by smaller fintech companies more quickly and more cheaply than legacy banks. Nearly 8,800 fintech start-ups were founded in the US in 2021 alone, with a combined market value of $4tn by the end of 2020.

https://www.independent.co.uk/news/business/business-reporter/fintech-banks-smes-financial-services-mobile-banking-b2338989.html
'Post-pandemic hangover' forces many restaurants to file for bankruptcy: Restaurant Canada

CBC

23-05-18 08:00


According to Restaurants Canada, a not-for-profit association representing 30,000 restaurants countrywide, Canadian restaurants are encountering a ‘triple whammy’ of inflationary costs, labor shortages and Covid-19 related debt which is causing them to face bankruptcy. Bankruptcy filings in the food service sector have increased 116% since 2022, with about half of restaurants reportedly unprofitable right now compared to only 12% pre-pandemic. Restaurants Canada is lobbying the government to extend the repayment deadline for the Canada Emergency Business Account to enable struggling businesses to get relief. The group is also pressuring the government for support which is not only limited to the restaurant sector but for small businesses as well. The Birds & The Beets cafe in downtown Vancouver, faced with daytime office workers not returning, has also begun operating as a wine bar five nights a week which has been a vital survival strategy. According to Restaurants Canada, restaurants have to increase prices to keep pace with inflationary costs but not hike them too much to avoid losing customers who are feeling the pinch of high prices.

https://www.cbc.ca/news/canada/british-columbia/post-pandemic-restaurants-bankrupt-1.6847327
Morocco: Unauthorized brokers obstructing Schengen visas

Deutsche Welle

23-05-18 06:53


Unauthorized visa application brokers in Morocco are using software bots to quickly reserve appointments and sell them on at rates of up to 10 times the original fee. This has been blamed for making it more difficult for people in Morocco to travel to Europe even after travel restrictions were lifted this year. Some embassy services have begun to respond to increase tensions, with Dutch authorities introducing a digital waiting list and Spanish services introducing a photo-based self-verification system for applicants. The Italian Consulate General in Casablanca switched service provider to VFS Global, while Germany has not announced any concrete plans to improve the situation.

https://www.dw.com/en/morocco-unauthorized-brokers-obstructing-schengen-visas/a-65646643
Anti-trafficking immigration reforms cannot come soon enough

The Age

23-05-18 11:00


An inquiry into Australia's migration system, led by former Victoria Police commissioner Christine Nixon, has uncovered significant gaps in counter-terror financing and anti-money-laundering laws and "significant discrepancies" in the operations of law enforcement agencies. Poor oversight of the visa system has led to women being held in sexual servitude, the report found. The investigation was triggered by reports last year by The Age and The Sydney Morning Herald that the entry process for students, families and refugees was being corrupted by migration agents running "visa farms," enabling thousands to work in indentured conditions.

https://www.theage.com.au/politics/federal/anti-trafficking-immigration-reforms-cannot-come-soon-enough-20230517-p5d95v.html
Hong Kong launches digital coin trial run as it edges towards public roll-out

South China Morning Post

23-05-18 09:30


Hong Kong is trialling its central bank digital currency (CBDC), e-HKD, with 16 banks and payment firms selecting small groups of clients to test six possible uses, including online payments, dining out and making money transfers. The three note-issuing banks, HSBC, Standard Chartered and Bank of China (Hong Kong), will take part in the trial. The controlled experimental environment will enable testing of the infrastructure's security and other operational issues. The HKMA plans to announce the launch date of the fully rolled-out e-HKD following results of the trial in November.

https://www.scmp.com/business/banking-finance/article/3221011/hong-kong-launches-e-hkd-pilot-programme-16-companies-test-digital-currency-public-use-shops
The fight over the future of global payments

Economist

23-05-18 09:16


Three major players, the likes of Visa-Mastercard, China’s payment apps and card network UnionPay, and India’s state-led Unified Payments Interface (UPI), are competing to process vast and diverse flows of funds for a global audience in a payment transformation that’s going global. With cross-border retail spending and remittances set to hit $5tn this year, and business-to-business payments worth eight times that, the three blocs are heating up competition. China is the most advanced challenger with Alipay accepted at 2.5 million merchants overseas, while UnionPay, the world’s biggest card network by transaction volume, is accepted at 65 million merchants globally. India's UPI has also grown in ambition, with talks underway with more than 30 countries on exporting payments kit. While countries may fear a fragmentation of global financial infrastructure that could let wrongdoers escape future sanctions, more options will benefit consumers and businesses alike.

https://www.economist.com/leaders/2023/05/18/the-fight-over-the-future-of-global-payments
Visa and MasterCard agree to lower average credit card interchange fee below 1%

CBC

23-05-18 19:36


Visa and MasterCard have agreed to reduce interchange fees paid by retailers when a customer pays for a purchase with a credit card, in an agreement with the Canadian government. The fees will fall to an average of 0.95% for in-store transactions, meaning a $100 purchase would earn a retailer at least $99 rather than as little as $97. The deal is part of an effort to save merchants $1bn in five years and is intended to benefit small businesses that lack the bargaining power wielded by larger counterparts when negotiating lower fees.

https://www.cbc.ca/news/business/visa-mastercard-fees-1.6848082
Feds finalize Visa, Mastercard agreements lowering fees for small businesses

The Toronto Star

23-05-18 18:55


Canadian small businesses are set to gain from reduced credit card transaction fees, under agreements finalised by the federal government with Visa and Mastercard. Interchange fees for in-store transactions will be cut to an annual weighted average of 0.95% from domestic consumer credit transactions. Online transactions fees will drop by 10 basis points, leading to up to 7% savings. The agreements will apply from fall 2024 and will save eligible small Canadian businesses around $1 billion over five years. The reductions will help approximately 90% of credit card-accepting businesses in Canada, according to government estimates.

https://www.thestar.com/business/2023/05/18/feds-finalize-visa-mastercard-agreements-lowering-fees-for-small-businesses.html
Ottawa unveils lower credit-card fees for small businesses, but some industries say measures fall short

The Globe and Mail

23-05-18 22:13


Canadian small businesses will likely see no benefit from the government's announcement lowering credit-card transaction fees. The government had promised since the 2019 election to cut the transaction fees for small businesses. In the 2023 budget tabled in April, Ottawa reportedly said a deal with Mastercard and Visa was forthcoming, but the details of the deal were not released until Thursday, when businesses that receive less than $300,000 in annual revenue through Visa credit cards and less than $175,000 in annual revenue from Mastercard customers will qualify for reductions. However, many business associations have said the sales threshold is so low that many businesses will not qualify.

https://www.theglobeandmail.com/business/article-credit-card-fees-settlement-freeland/
Former Minto workers say they've been abandoned along with the mine

CBC

23-05-19 21:51


Apparent ambiguity over the ownership of Canadian copper firm Minto Metals has left many of its 180 employees unable to obtain compensation through federal schemes. The company said it was unable to pay redundancy and linked payments to workers' agreed contracts. An email sent to workers recommended they apply for money through the federal Wage Earner Protection Program, but staff have had difficulty with the scheme. Minto Metals announced it was closing its copper mine, in operation since 2006, leading to the redundancies and the winding-up of the company.

https://www.cbc.ca/news/canada/north/minto-workers-struggling-1.6849908
My family camped across the U.S. and Canada on a month-long road trip. It bonded us like nothing else

The Toronto Star

23-05-20 10:00


Donations from readers of the Toronto Star newspaper are being sought to help its Fresh Air Fund, which gives underprivileged and special needs children meaningful camping experience, like the trip enjoyed by a young Roveena Jassal with her family in the summer of 2011. The trip and subsequent camping have brought back special memories and strengthened the family unit. The Fresh Air Fund is now in its 123rd year and offers memories that last a lifetime, but it needs the public's support to continue to operate. It has a goal of raising CAD650,000 ($494,000).

https://www.thestar.com/initiatives/fresh_air_fund/2023/05/20/my-family-camped-across-the-us-and-canada-on-a-month-long-road-trip-it-bonded-us-like-nothing-else.html
Migration tsar backs student visa curbs

Telegraph

23-05-20 21:30


Plans to cut back on the right for foreign students to stay in the UK after they graduate have gained support from the government’s migration advisory committee chairman, Professor Brian Bell, amid concern that the scheme enables abuse. The government’s commitment to provide a two-year graduate visa did not specify work rights, which Prof Bell claimed have been “pretty much unrestricted”. The increase in graduates’ dependants was the most significant impact of the policy, contributing to a ten-fold increase in foreigners bringing dependants to the UK. The government, including the prime minister and chancellor, is said to be resisting calls to restrict the rights.

https://www.telegraph.co.uk/politics/2023/05/20/brian-bell-migration-tsar-student-visa-curbs/
Americans want Prince Harry to leave, says head of leading US think tank

Telegraph

23-05-22 19:32


The US think tank, Heritage Foundation, has launched legal action against the State Department to get hold of Prince Harry's immigration records. The Foundation claims that the public has a "right to know" whether Harry, who admitted in his memoir to taking drugs, was truthful on his visa application. The US visa application form asks whether an applicant has ever violated any law related to controlled substances. Even though the US government has refused to release it following pressure from the think tank, a US court will rule on whether to compel officials to release his immigration records to the public.

https://www.telegraph.co.uk/world-news/2023/05/22/us-harry-meghan-leave-drugs-spare-mushrooms-courteney-cox/