A report on deepening democracy released by the Global Commission on Elections, Democracy and Security recognised that the enfranchisement of displaced populations, including refugees, ‘is critical for ensuring the integrity of elections and the establishment of democracy’. But this statement belies a deeper interaction, and even conflict, between the international refugee regime and democracy. What would ‘deepening democracy’ mean for the refugee regime? I suggest that strengthening democratic institutions could deepen divides between refugees and host communities. To ensure that the international refugee regime and democracy can successfully co-exist, we must think not just of deepening democracy, but of also balancing it with the rights of refugees.