ESF and Hong Kong school debentures explained

In Hong Kong, a school place can come with a price tag on top of the fees. Some of it buys priority on the waiting list, some of it buys nothing but the right to stay, and almost none of it comes back.

The short version

Every ESF newcomer pays a one-off capital levy, from HK$38,000 (about £3,600) for Year 1 down to HK$3,800 (about £360) for Year 13, which is not refundable [1].
ESF Individual Nomination Rights cost HK$500,000 (about £47,300) for standard ESF schools and HK$400,000 (about £37,900) for Discovery College and Renaissance College, and fast-track your application; 150 are issued a year for the standard schools [2].
Private schools charge annual levies instead: HK$40,000 (about £3,790) a year at Kellett and HK$42,000 (about £3,975) at Malvern College Hong Kong, unless you hold a debenture or nomination right [3][4].
Debentures at Kellett run from HK$1 million (about £94,600) for a corporate debenture to HK$20 million (about £1.89 million) for the top tier [3].
ESF waiting lists are by school and priority group; siblings, staff children and corporate nominees come first, and you reapply each February or March [5].

Pound conversions use the Bank of England spot rate of 5 November 2026 (£1 = HKD 10.5659).

Why Hong Kong schools charge for places

Hong Kong's international schools are mostly non-profit, but they have to buy or build campuses in one of the world's priciest property markets. They fund that with money from families on top of tuition, under a few different names:

Name	What it is	Usually refundable?
Capital levy (one-off)	A charge when your child joins, as at ESF	No
Annual capital levy	A yearly charge for every child without a debenture	No
Nomination right	A payment, often by a company, that gives a child priority or a guaranteed interview	Depends on the school's terms
Debenture	A large sum lent to or paid to the school, often by a company, giving priority and exempting the child from the levy	Some can be redeemed, some can't
Capital certificate	A school's own version of a debenture	Depends on the school's terms

The details differ from school to school, so read the terms. Some schools describe a debenture as "redeemable" without saying when or how much comes back. Our guide to schools in Hong Kong covers the tuition fees themselves.

ESF: levies, deposits and nomination rights

The capital levy

Everyone joining an ESF school since 2015/16 pays a non-refundable capital levy (NCL). It's a one-off payment on a sliding scale, so the younger your child, the more you pay [1]:

Year joining	NCL (HK$)	About
Year 1	38,000	£3,600
Year 4	32,000	£3,030
Year 7	26,000	£2,460
Year 8	22,300	£2,110
Year 10	14,900	£1,410
Year 12	7,500	£710
Year 13	3,800	£360

You don't pay it again when your child moves up from an ESF primary to an ESF secondary [1]. The older refundable capital levy, paid by families who joined between 2011 and 2015, is being refunded in full in 2026/27 [1]. Renaissance College has its own one-off building levy instead, from HK$50,000 (about £4,730) in Year 1, and Discovery College charges a building levy of HK$8,060 (about £760) a year [1].

You'll also pay a deposit of two months' fees at your child's year group, credited half to the first month and half to the last [1]. For a standard ESF primary that's HK$29,000 (about £2,745), based on 2026/27 fees of HK$145,000 a year, as set out in ESF's fee letter of 24 March 2026 (subject to Education Bureau approval) [1][10].

Nomination rights

An Individual Nomination Right (INR) costs HK$500,000 (about £47,300) for the standard ESF primary and secondary schools, or HK$400,000 (about £37,900) for Discovery College and Renaissance College [2]. It doesn't guarantee a place: it fast-tracks your child's application, as long as they meet the admissions requirements [2]. ESF issues a maximum of 150 INRs a year for its standard schools, and applications for them open on 2 September [2]. ESF's fee page points to separate terms for the INR, so check whether any of it comes back before you pay [1].

A Corporate Nomination Right (CNR) is bought by an employer for senior staff and gives nominees first priority, subject to the admissions requirements [2]. If you're being transferred, ask whether your company holds one: it's worth more than a pay rise for many families.

ESF's priority order and waiting lists

ESF's FAQ says INR nominees are the fifth priority, behind corporate nominees, ESF staff children and siblings of current pupils [5]. Everyone else comes after that. Since 1 August 2023 ESF has had no catchment zones, so you can apply to any of its schools [5].

How it works in practice:

The central application for Year 1 and Year 7 runs each September; for August 2027 entry it was 1 to 30 September 2026, with a HK$2,800 (about £265) application fee [2][1].
Pick up to four schools in order of preference [5].
Applications are put in random order by computer, then sorted by priority group [5].
Interviews run from November to January for Year 1 and from mid-October to the end of November for Year 7, and Year 7 offers go out in December [2].
If you don't get a place, you stay on the waiting list for your first-choice school. You'll be invited to reapply each February or March at no cost; if you don't, the application is treated as withdrawn [5].
Late applications go on the waiting list by category and date received [2].

A useful perk: children in an ESF primary by 1 December of Year 6 are guaranteed a Year 7 place at the linked secondary school [2]. Children who join Year 6 later can't be guaranteed one [5].

Private international schools: debentures and annual levies

Kellett School

Kellett, the English National Curriculum school in Pok Fu Lam and Kowloon Bay, is a good example of the debenture model. Every pupil must be covered either by a debenture or by the annual capital levy of HK$40,000 (about £3,790), which is non-refundable [3][6].

Kellett debenture	Price (HK$)	About	Lasts	Redeemable
Golden Jubilee	20,000,000	£1.89 million	Indefinitely	No
Foundation	10,000,000	£946,000	15 years	Yes
Foundation Certificate	5,000,000	£473,000	15 years	No
Corporate	1,000,000	£94,600	8 years, depreciating	Yes

The top three give the highest admissions priority; the corporate debenture speeds up a waiting-list place but doesn't guarantee one [6]. To put the levy in context, a child at Kellett from Reception to Year 13 would pay HK$40,000 a year for 14 years: HK$560,000 (about £53,000) in total, at today's rate.

Malvern College Hong Kong

Malvern College Hong Kong uses nomination rights instead of debentures. Pupils without one pay an annual capital levy of HK$42,000 (about £3,975) for 2026/27, due when you accept an offer, which isn't refundable [4].

Other schools

Shrewsbury International School Hong Kong in Tseung Kwan O charges a yearly capital levy unless you hold one of its capital certificates, whose refundable value falls each year until it reaches zero; the certificates don't guarantee admission [7]. Harrow International School Hong Kong also has debentures, capital certificates and a capital levy, but its online fee page was out of date when we checked, so ask admissions for current figures [8]. The Education Bureau's international schools portal lists levies and other charges for each school [9].

How to give yourself the best chance

Apply before you arrive. Most schools accept applications from overseas, and the waiting-list clock starts when you apply.
Apply widely. Two or three ESF choices plus two or three private schools is normal. Application fees of HK$1,800–2,800 (about £170–£265) aren't refundable [1][3][4].
Ask HR about corporate debentures and nomination rights before you sign your contract. An employer-held nomination is often the single biggest advantage.
Check your tax position. If your employer pays a levy or debenture for you, Hong Kong may treat it as part of your pay; our guide to salaries tax in Hong Kong covers the basics, and a tax adviser who knows both countries can check your case.
Read the debenture terms before paying: when it can be redeemed, whether it depreciates and what happens if you leave Hong Kong.
Keep reapplying. Places do come up mid-year when families leave, especially in summer.

Other parents who've just been through it are the best guide: ask in our community group for Brits in Hong Kong.

ESF and international schools in Hong Kong: debentures, levies and how waiting lists really work