yes,
when overstaying the 30 days allowance of the Vistors/turist Visa you pay the above mentioned fine when leaving at the Airport.
but you guys always forget a very important simple little point/Fact:
from Day 31 til the Day you leave at the airport/pay your overstaying Fee, during this Time Period you are legally a Alien, means Your Immigrations Status in the Country is named Illegal.
what effects that has ?
on most visitors absolutely nothing, b/c they simply have a good time, don't get involved in any trouble or accidents, so no effects.
at the moment something "Happens" you have to Deal with the upcoming trouble as a Illegal Immigrations Status, and I saw often enough that such status is anything but helpful for the often not even Spanish speaking floks, when dealing with Locals and Authorities after a simple minor Accident, or getting in a lil trouble at a public place.
from Day 31 on you are also not allowed to drive any vehicle here, nor covered by any insurance.
most Visitors will also find in the fineprint of their Travel insurances that such Insurances do not cover the Person that is under a Illegal Immigrations Status, so medic costs wise such lil details can come out very costy.
but for most it is simply nothing,
enjoy a free Islandlife, advice visitors to "do it the lazy easy way",
and have Fun
Mike