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Immigration Consultant Bond

What Are Immigration Consultant Bonds?

immigration consultant bond

Immigration consultant bonds are a type of license surety bond. Some state and local governments require immigration consultants to secure a surety bond in order to gain licensure. The bond guarantees that immigration consultants will perform their duties in coherence with applicable laws and regulations.

Immigration consultant bonds involve three parties.

  • The principal is the immigration consultant/consultancy who purchases the bond to certify that they will follow regulations.
  • The obligee is the beneficiary party who requires the bond, in this case the state authority.
  • The surety underwrites and issues the bond.

When Do I Need an Immigration Consultant Bond?

Immigration consultant bonds are a requirement as part of the registration process to become a certified immigration consultant. Each state determines at which point in the process obtaining an immigration consultant bond is a requirement. Renewal requirements for immigration bonds vary by state as well, with many states requiring annual or bi-annual renewals.

Why Do I Need an Immigration Consultant Bond?

Immigration consultant bonds ensure that all certified immigration consultants are knowledgeable about the process of immigration documents, and that they will follow laws and regulations to the best of their abilities. The immigration consultant bond protects customers in the event of fraud, or other rule breaking on behalf of an immigration consultant.

Benefits for the Obligees:

In the event that an immigration consultant breaks the law and thus harms their customer, the customer can make a claim against the bond for up to the penal amount of the bond. Then, the principal must reimburse the surety for the amount claimed.

How Much Are Immigration Consultant Bonds Written for?

The cost of an immigration consultant bond varies by state. For example, immigration consultants in California require higher bond amounts than those in Georgia, or New York. Here are some sample bond requirements for several states:

  • CA - $100,000 bond required by the California Secretary of State.
  • GA - $5,000 bond required by the Georgia Secretary of State.
  • NY - $50,000 bond required by New York City.
  • UT - $50,000 bond required by the Utah Division of Consumer Protection.

Contact your state authority to find out the immigration bond requirements in your state.

How Much Do Immigration Consultant Bonds Cost?

Immigration consultant bond premiums typically range between 1% and 2.5% of the total bond amount. However, because of varying immigration bond amount requirements, there can be a large difference in cost depending on the state issuing the bond. For example, based on a 1% to 2.5% figure, an immigration consultant in California may be required to pay a premium between $1,000 and $2,500. Meanwhile an immigration consultant in Georgia, paying the same percentage for their premium, may only need to pay around $100 for their bond.

Clients with bad credit can still usually get immigration consultant bonds, though the premium will be higher, in the range of 5% to 10% of the bond amount.

What Do You Need to Secure an Immigration Consultant Bond?

You will need to submit an application and have your credit checked. Once approved, simply paying the bond premium will secure your surety bond.

Get Your Immigration Consultant Bond Fast

Immigration consultant bonds are usually simple to process. You will usually receive a bond quote within 24 hours of the surety receiving the bond application. Viking writes immigration bonds all over the country. Contact us today and we’ll help you get the bonding process moving forward right away.

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