US to Require Security Deposit of Up to $15,000 for Some Business and Tourist Visa Applicants

Pilot Program to Begin on the 20th for One Year
Low Likelihood of Application to South Korea

The U.S. government plans to impose a security deposit of up to $15,000 (approximately 20 million won) on applicants for short-term visas from countries with a high number of nationals who overstay their visas. Since South Korea is a member of the Visa Waiver Program (VWP) and has a low rate of overstays after visa expiration, it appears unlikely that the new U.S. visa security deposit system will apply to South Korea.

On August 4 (local time), the U.S. Department of State announced in the Federal Register that it will implement a 12-month pilot program requiring a visa security deposit from foreign nationals seeking to temporarily visit the United States for business (B-1) or tourism (B-2) purposes.

The pilot program may target countries that meet any of the following criteria: countries with a high rate of nationals who remain in the U.S. after their visa expires; countries where there is insufficient information about visa applicants' identity or criminal records; or countries that operate investment immigration programs granting citizenship without a residency requirement.

In such cases, U.S. consulates may require a security deposit of $5,000, $10,000, or $15,000 as a condition for visa issuance. The deposit will be refunded if the visa applicant departs the U.S. within the permitted period and complies with conditions such as entering and exiting through designated airports specified by the U.S. government.

The pilot program will take effect starting August 20. The Department of State plans to announce the list of countries subject to the visa security deposit at least 15 days before the start of the pilot program.

The Department of State explained that it will use the Department of Homeland Security's 2023 fiscal year "Overstay" report to identify countries with high visa overstay rates.

It appears unlikely that the U.S. will apply the visa security deposit to South Korea. South Korea is a participant in the U.S. Visa Waiver Program (VWP), and in the 2023 fiscal year, the rate of South Koreans who overstayed their visa in the U.S. was 0.30%, which is lower than the average of 0.62%.

This idea is not entirely new. A similar visa security deposit program was introduced during the Trump administration in 2020, but it was not implemented due to the COVID-19 pandemic and global travel restrictions.

On his inauguration day, January 20, President Trump signed an executive order to block illegal immigration, thereby reviving this measure. The Department of State is expected to decide whether to formally introduce the security deposit system based on the results of the pilot program.

This content was produced with the assistance of AI translation services.