Debenture & Capital Levy Information
GSIS is a registered non-profit organisation and relies on tuition fees and Government subsidies to finance the School’s operational costs. GSIS recognises that over time, existing facilities will need enhancements, additions and replacement in order to maintain and continue to improve the overall School environment for our students. GSIS’s Debenture scheme was conceived to meet the cost of major capital projects and provide for the sustainability of GSIS into the future.
- One Debenture or Capital Levy for each child attending GSIS must be either nominated or purchased before entry.
- The deadline to purchase a Debenture or Capital Levy for students starting at GSIS is specified in the offer letter.
- Debentures or Capital Levies can only be purchased after a place has been offered to the child.
- A re-allocated Debenture must be upgraded to the current value, as necessary, prior to the student starting at GSIS. This also applies for returning students whose original Debenture has remained active.
- A Debenture or Capital Levy must be purchased if the student is not the nominee of an existing Debenture or Capital Levy. A completed Debenture or Capital Levy application form, plus cheque (payable to The German Swiss International School Foundation Limited) should be sent to :
German Swiss International School
11 Guildford Road
The Peak, Hong Kong
There are two types of Debentures available for prospective students who are offered a place.
STANDARD DEBENTURE (REFUNDABLE)
- Value: HKD 500,000
- Upon written application, the value of the Standard Debenture is refunded when the student leaves the school, subject to the Debenture conditions.
- A nomination of an applicant to an existing, not-assigned Debenture must be accompanied by an upgrade payment to the current Debenture value. Upon receipt of payment, the Debenture admissions priority will be granted to the applicant.
- In situations where, after acceptance of a place, a student does not begin his or her school term at GSIS, or in situations where a student is withdrawn from GSIS within six months after the start of his or her school term, a levy representing 20% of the nominal value of the Standard Debenture will be charged and is payable immediately upon issuance of the respective invoice.
- Refer to Standard Debenture Conditions for further information
Development Debenture (Non-Refundable)
- Value: HKD 432,250
- Development Debentures are non-refundable when a student leaves the school, i.e. the value of the Debenture, upon issuance, effectively becomes a donation to the School.
- Upon a student leaving the School, the Debenture shall retain a nominal value of HKD 1.00, granting the owner of the Debenture entry priority for subsequent student nominations (after the student passes entrance assessments). Development Debentures must be upgraded to the current value when being allocated for subsequent student nominations.
- The school reserves the right to change the value of its Debentures without any prior notice. The Board will determine the value of Debentures for the next school year at any time during the current school year.
- Refer to Development Debenture Conditions for further information
GSIS will continue the Capital Levy scheme as an alternative to the HKD 500,000 Standard Debenture, for eligible students. This provides a flexible option for parents with the aim of increasing admission to selected classes and selected year groups that are falling short of critical student numbers in both Streams.
- Value: HKD 20,000 per student per annum, with HKD 10,000 payable by 1 August and HKD 10,000 payable by 1 February. The Capital Levy is non-refundable.
- Capital Levy is available for NEW students only.
- Upon application, the parent or guardian of the eligible student is required to select either the Standard Debenture or Capital Levy, payable at the time the offer of a place is accepted in writing.
- The School decides the admissions priority based on a student’s circumstances at the time of application and the School reserves the right to adjust the criteria based on the situation and needs.
- The number of Capital Levy applications allowed each school year will be determined by the School Management and approval by the Board.
- The School fees invoice is required to be paid in two instalments; the first instalment by 1 August and the second instalment by 1 February. In situations where the instalment school fee invoice has not been paid in full by 1 August and 1 February, the School will immediately cease providing any educational programme and services to the student. No further notice will be given to the student.
- The redemption of Standard Debentures is subject to Clause 6 of the School’s Debenture conditions.
- Debentures issued in an employer’s name may only be presented for redemption during February or September in any year.
- In principle, and where applicable, a Debenture can only be presented for redemption after the student has left the school and all outstanding charges have been paid to the German Swiss International School Association Ltd. as well as the German Swiss International School Foundation Ltd. Any outstanding amount including, but not limited to, outstanding school fees, charges and levies may be deducted from the face value of the Debenture.
To redeem a Debenture, the original Debenture certificate should be submitted, together with a letter requesting redemption, to:
The German Swiss International School Foundation Ltd
11 Guildford Road
The Peak, Hong Kong
German Swiss International School Association Ltd
As a member of The German Swiss International School Association Ltd, you can contribute to the operations of the school and be instrumental in introducing improvements to make our school even better. As a member of The German Swiss International School Association Ltd, you have the right to vote at the general meetings, and participate in the affairs of The German Swiss International School Association Ltd. Subject to the approval of the Board, membership of The German Swiss International School Association Ltd is open to all natural persons over the age of 21 who are not GSIS staff.
German Swiss International School Foundation Ltd
Debenture holders whose names have been registered in the Register of Debentures are voting members of the German Swiss International School Foundation Ltd, the corporate body that owns the school buildings.
