All students from outside the EU/EEA countries need to provide documentation that they have sufficient funds to cover living expenses in Norway, in order to be granted a student residence permit.
For the academic year 2020/2021 the amount is:
- NOK 121.220 for one year
- NOK 60.610 for one semester
Bilateral exchange students from visa-free countries
Students can provide the documentation by either:
- a letter of confirmation from home institution confirming that the student has sufficient funds, OR
- a bank statement confirming that the student has sufficient funds.
Degree-seeking students and degree-seeking students from visa-countries
Students need to deposit the requested amount of money into a Norwegian bank account (if you do not have a bank account in Norway you may use the bank account at the the institution where you are going to study).
The Norwegian Directorate of Immigration (UDI) enforces this rule strictly and will in most cases not accept other means of documentation, like a bank statement from a bank in your home country, or financial guarantees from relatives or other third parties. If the UDI does not accept your documentation, it will affect your residence permit application with regards to both A) the final result (your residence permit/visa application might be denied) and B) processing time (the length of the processing time of the application will be much longer than normal, which is 2 months), and you will not obtain your residence permit/visa in time to start your studies.
More information regarding the deposit account as well as instructions will be send to the students after your study admission is granted by INN University.
It is not permitted for persons without a Norwegian personal ID-number to open a bank account in Norway. It is therefore not possible for students to open an account from abroad and transfer the requested amount to such accounts before applying for the residence permit/visa. INN University has a Deposit Account in DnB NOR ASA for international students. This account, which is called the Deposit Account Foreign Students, is meant for international students from visa-countries outside EU/EEA.
Please note: Students who already have a Norwegian bank account or a Norwegian ID-number, which enables them to open a bank account in Norway, must transfer their money to their personal bank account and not to the INN University’s Deposit Account.