Security Deposit Amounts Significantly Increased

Author:Fragomen &nbsp
Profession:Fragomen
 
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At a Glance

The Costa Rican General Immigration Directorate has announced a significant increase of the security deposit amounts that foreign nationals (or employers) must pay upon approval of their Temporary or Permanent Residence, Change of Status from Temporary to Permanent Residence or Restricted Entry Visa applications. The amount of the deposit still varies depending on the applicant's nationality but the cap of USD 300 has been eliminated. Security deposit amounts now range from approximately USD 280 to approximately USD 4,800. Employers and foreign nationals should be prepared to cover the additional cost of a significantly higher security deposit amount where applicable. The situation

The Costa Rican General Immigration Directorate (DGME) has announced a significant increase in the security deposit amounts that foreign nationals (or employers) must pay for several immigration processes.

A closer look

Cost of the deposit. The amount of the deposit still varies depending on the applicant's nationality but the previously established cap of USD 300 has been eliminated. Security deposit amounts now range from approximately USD 280 to approximately USD 4,800. The full list of new security deposit amounts for each nationality can be found in the Legislative Gazette (pages 7-20). Reimbursement still available. Foreign nationals can submit a reimbursement request for their original security deposit when they cancel their current residence permit. Reimbursements usually take up to six months to be processed. Background

Purpose of deposit. A security deposit (also known as a repatriation or guarantee deposit) is a government method to ensure that national costs will not be used to cover the expenses of repatriating or...

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