Financial obstacles encountered by Lebanese when traveling abroad

Many Lebanese dream of traveling and settling abroad, whether for professional or academic reasons. However, the financial crisis that hit the country in 2019 has made these plans even more difficult to realize. Among the main barriers are obtaining a visa and the restrictions imposed by Lebanese banks, which are closely linked.

The banking crisis and visa issues

According to Trading Economicsa global platform dedicated to economic data, the number of bank accounts in Lebanon is estimated to have fallen by almost 40 % between 2010 and 2022. This situation makes it difficult for many Lebanese to access a bank statement, which is required when submitting a visa application in some foreign embassies.

Lebanese students wishing to study abroad also face similar challenges, as foreign universities often require the presentation of a bank statement attesting to the availability of the necessary funds.

Alternative solutions to meet visa requirements

Faced with these difficulties, some Lebanese have found alternative solutionsThe idea was a risky one. Hassan considered buying a fake bank statement, which would have cost him around $400 from unscrupulous brokers who had sniffed out the scam. However, aware of the possible consequences (arrest and travel ban), he decided not to go down this route.

As for students like 27-year-old Ahmad Itani, who wanted to study in Europe, they have turned to the Persian Gulf countries, where access to visas is easier and where they hope to be able to open a foreign bank account to deposit their savings.

Travelling without a bank account: what are the options?

Many people are now looking to travel with proof of a bank account. Some countries, such as Turkey and the Maldives, offer more flexible visa policies for Lebanese passport holders, with visas granted online or on arrival.

As CEO of Visamundi, I am dedicated to facilitating international travel by helping our customers obtain visas worldwide. By staying at the forefront of ever-changing regulations, I ensure that our agency is a trusted pillar in the field of visa services.

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