WHAT IS FUNDS TRANSFER SCHEM:-
Indian student to have the ability to open a saving account with ANZ Bank while still in India and deposited an amount equaling to the living cost of money for one year. Funds transfer scheme is to help facilitate the processing of student visa application from Indian people who want to go to New Zealand to study.
What is the benefit of FTS scheme?
- Allow Students parents to have control over the amount of money that their child has access to in New Zealand.
- Is a lot easier that the current alternatives available- where a range of documentation is required and / or a Bank loan must be taken out? And
- Helps the visa officer more easily determine the ability of parents to funds their child tuition and living cost in New Zealand. Usually this is done by the parents having to provide a range of documentation to show their financial ability, which the visa officer than has to scrutinized and verify.
Who can apply for this scheme?
Applicant intending to study in New Zealand for 12 months or more from India can now apply for the funds Transfer scheme. br>
Can I withdraw the deposit from the ANZ Bank by showing a decline or withdrawal letter issued from INZ Bank?
At what stage are my funds required to be transferred to NZ?
You do not need to transfer your funds to NZ until you have received an approval in Principal letter from INZ.
Which Bank in NZ can I withdraw my money from?
Only ANZ Bank at this stage, but negotiation is underway with other NZ Banks. The EFTPOS (debit Cards) facility can however be used at all ATMs and POS as per the monthly limits set under this scheme.
How much can I withdraw from my account each month in NZ?
Every month you can withdraw only 1/12th of NZD 10,000 to cover your living costs from your remittance account in NZ. This however, does not preclude you from having other personal Bank accounts in NZ. You should withdraw the stipulated amount monthly as it become due. If you do not do so, the Bank will advise INZ of non activity account.
Can lodge a new application immediately after being declined?
Yes-you can there is no time restriction on resubmitting a new application. However, if there is no further new information or significant charges in your circumstances, the previous decision is unlikely to change.
What is validity of student visa?
Usually student visa is granted for the period that the student has paid the course fees and maintenance funds for (up maximum of 4 years).
More specifically: If the course is based on the New Zealand academic year, visas may be issued till br>
The 31 of March for the territory student and 28th of February for primary and secondary student .If the course lasts for less one year or can begin at any time during the year, the visa may be issued to expire no more than one month after the period for which the student has paid .
Can I work while I am studying?
You can work 20 hours per week if you are one of following student. br>
Students enrolled in full time course of at least 2 years. Students enrolled in a course that would result in points under the skilled migrant category (regardless length of the course or type of Institution) Secondary student engaged in a full time, full year course of study in year 12 or a 13 with written permission from their school and parental consent. English language student with an IELTS overall bands score of 5.0 or above. At the time of application for a student visa and who is engaged in full time course of at least six month. In addition the right to work full time Christmas holiday period will be available to any student enrolled in a course of 12 months or longer duration.
Can my family visit me while I studying in New Zealand?
Your family can a apply for a visitor visa to visit you while you are studying in New Zealand. However, please understand that they must meet the visitor visa policy requirement-that they genially intend a temporary stay in a New Zealand for lawful purpose. br>
In addition, if you are one of the following students, open work permit available to your partner.
Student enrolled in course of study towards qualification in areas of absolute skill shortest.
Students enrolled in a Post graduates qualification.
What is processing time for student visa application?
Positive profile application – 15 days br>
Other student visa applications – two or three weeks of allocation and further seven to nine weeks for processing. br>
If the application does not include the require documents that are given in New Delhi – student visa check list DOC, it is likely that the application will be processed under ‘the other student visa application” category above.
What is the processing time for partner of student?
The partner’s application cannot be decided ahead of the student visa application. On which dependent,
The application will be held in a queue until the student visa application decided and that the partner’s application will be allocated to an officer within five weeks from the date of finalization of the main student visa application. The processing could take one to six month from the date of application is allocated to an officer depending upon the nature and quantum of verification the application requires.
Note: – The processing time frame for visitor visa and work visa application under this category is the same.
Do I qualify to be a skilled migrant if I complete my studies in New Zealand?
To qualify to be skilled migrant , you need to have good health, good character a reasonable slandered of English, and no older than 55 years of Age, You will also need to meet the threshold of 100 points to register an express of interest(EOI)in applying residence in New Zealand . br>
Points are gained for skilled employment in New Zealand, work experience, qualification and age. Bonus points are available for employment, work experience, qualification in identifies areas of growth of or absolute skills shortage areas. Bonus points are also available employment outside Auckland and for recognize New Zealand qualification gained in New Zealand. Yours partner’s employment and qualification and your close family support in New Zealand can also gain bonus point. For more detailed information on skilled migration to New Zealand, visit the work stream.