- New Policy Streamlines Residence Permit Process
- July 19, 2016
- Law Firm: Fragomen Del Rey Bernsen Loewy LLP - New York Office
Foreign nationals seeking to obtain or renew a Temporary Residence or Investor's Residence permit can now provide proof of repatriation insurance instead of a series of documents required for each process.
Previously, for initial applications, applicants had to provide a guarantee letter, an employment letter and other corporate documents. Renewal applicants had to provide a guarantee letter, sworn declaration and Commercial Registration.
Insurance Policy Details
Key details on the new insurance policy document are:
- Applicants can purchase an insurance policy for USD 100 per applicant.
- The document is valid for one year.
- Repatriation coverage level depends on the applicant’s nationality, but generally provides coverage up to USD 3,500.
- Covered expenses include legal deportation, airline ticket costs for the applicant and any dependents and lodging expenses during the deportation period.
Foreign nationals should benefit from the new policy as it allows for the collection of fewer documents for the residency permit process.