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Increase in the Guarantee Deposit

On September 23, 2019, Costa Rica’s Immigration Department (Dirección General de Migración y Extranjería – DGME also referred to simply as Migración) published new Guarantee Deposit amounts for foreigners establishing residency in Costa Rica.

The purpose of the Guarantee Deposit is for the Costa Rican Government to have available funds to send you back home should you be deported for any reason.

Previous amounts were typically in the $300 range for all countries. These amounts were considered obsolete, and should take into account the full cost of one-way airfare to the home country, during high season. As such, a study was conducted and a rate was set for each origin country.

Some examples are:

  • United States: $361
  • Canada: $483
  • Europe: from $1,061 (Spain) to $2,882 (Iceland)

See the complete Resolution from Migración (in Spanish) starting on page 7, with the country tables starting on page 10.

Remember that this deposit is refundable and you can apply to have it returned to you should you end your residency in Costa Rica, or if you become a citizen of Costa Rica through naturalization.

Also, please note as of earlier this year, Migración has insisted that foreign residents make the Guarantee Deposit again when converting their temporary residence into permanent residence. Once the permanent residence is established, you can then apply to have the original deposit returned to you.

Find out more about our residency services, and fill out our FREE assessment to get in touch with CRIE!

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