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Documentation of financing & deposit account

All students from outside the EU/EEA/EFTA countries need to provide documentation of sufficient funds to cover the living expenses in Norway.

For the academic year 2021/2022 the minimum amount is:
  • NOK 126 357 NOK for one year 

Degree-seeking students and degree-seeking students from visa-countries 

Students outside the EU/EEA/EFTA need to deposit the requested amount of money (as stated above) into a Norwegian bank account. If you do not have a bank account in Norway you may use the Deposit Account of INN University.

The Norwegian Directorate of Immigration (UDI) enforces this rule strictly. They will in most cases not accept other means of documentation, such as 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 the documentation, it will affect the residence permit application with regards to both

  • A) the final result (the 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).

As a result, you will not obtain your residence permit/visa in time to start your studies. 

 

Deposit account

Students without a Norwegian personal ID-number cannot open a Norwegian bank account from abroad, and transfer the requested amount to such accounts before applying for the residence permit/visa. The deposit must therefore be transferred to INN University's Deposit Account in DnB NOR ASA. The Deposit Account is reserved for international students from visa-countries outside the EU/EEA. 

Students with an existing  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, not the INN University Deposit Account. The confirmation of funds must then be requested from one’s own bank.

Detailed information will be provided by e-mail to admitted students. 

 

Accessing the deposited money after arrival

Students have the possibility to apply for an advancement of the deposit (NOK 20 000) through a reloadable debit card while waiting for their Norwegian ID-number and bank account (the waiting time takes approximately 2 months). The police registration and appointment must be completed to be eligible for an advancement.

Upon receiving a Norwegian bank account, students can apply for a transfer of the remaining funds.