Also, the govt offers land and limited construction subsidy & if you're building to international standards - it is far short of what is required to build a full facilities international school. Even refurbing an old local school as a new international school is EXPENSIVE.
Some fun facts..
https://www.hongkongfp.com/2015/08/2...ol-for-hk1000/A company of which Executive Council member Bernard Chan is a director has been granted a piece of land in Tseung Kwan O for HK$1,000 to build a new international school. The move sparked controversy as Chan failed to declare his affiliation with the company.
Chan said that the school may charge students HK$200,000 a year.
The fact is, however, they are, and this is a massive ongoing Government subsidy to these schools. Ironically they are the worst offenders when it comes to debentures, levies etc...
The EDB's response to the Ombudsman's criticism is very telling:
“In order to meet the financial needs in relation to teaching and learning … some private schools may take out loans or implement fundraising schemes, such as debentures, capital levies and nomination rights. The EDB has noted that the modes of such fundraising schemes are becoming more diversified,” he added.
The spokesman also said private schools have been playing a unique role in the provision of education in Hong Kong. “While we are mindful of the legal requirements when devising the regulatory mechanism, we would also take into account the situation and needs of the schools and be careful not to interfere excessively,” he said.
In other words, the EDB ain't going to do jack about the absurd debentures and extra levies on top of the regular tuition fees. Because they like this system as it is.
which school charges "a one-off, non-refundable gold debenture of HK$3 million"?