Non-resident Indian financial sponsorship
Every year and often around this time, we help hundreds of clients to sponsor their relatives in further studies in India. If you are a foreigner or a non-resident Indian intending to sponsor a student for further studies, then the universities or other educational institutions in India will probably require you to confirm your obligation as a sponsor by signing an ‘Undertaking of the Sponsor’ form in front of a notary public.
It’s that time of year again!
The terms and conditions in the sponsorship undertaking form is not a guarantee or indemnity which applies only if the applying student does not fulfill their obligations. The undertaking actually requires sponsors to pay all academic, living and incidental expenses of the applying student for the duration of their enrollment. In many cases, payment must be made in advance for a fixed minimum amount quoted in US dollars. If you have been asked to be a sponsor, we encourage you to read and make sure you understand the terms and conditions of the sponsorship.
In most cases, the sponsorship undertaking form must be signed by the sponsor in front of a notary public and stamped/notarised by that notary public. Many of the sponsorship undertaking forms that we have seen also have a ‘stamp duty’ requirement, referring to the stamping obligation in India and not in New South Wales. Please be aware that stamp paper or bonded paper referred to in the form is generally not available Australia. Accordingly, if your sponsorship undertaking form has this requirement then you may need to arrange for the form to be stamped after it arrives in India (some legislation state the requirement to be 90 days after arrival) but before it is submitted to the relevant university.