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Re: Chinese International School
SaBB
I understand that CIS is not issuing any CNR in the meantime. The last tranch they issued were during SARS in 2003 and all were purchased swiftly by coporations like HSBC.
One could buy CNR in the 2nd hand market through agents. I 've got an offer to sell at HK$1.12 or $1.15 million (inclusive of transfer fee)a few months ago. Now I think is around HK$1.35 million. You cannot use a shell company to hold the CNR, the company has to meet the approval of CIS. According to the agent, it shall either be a listed company in Hong Kong or a company with substantial business. The agent will handle the paperwork with the school and what you need to do is to supply financial statements and prospectus of your company to the agent.
I understand that CIS has recently changed their wesite substantially. In their old website, they have made it clear that all CNR have been sold out. I do not know whether this new headmaster from France will bring any new policy to the school, e.g. issue more CNR?? Perhaps you may wish to phone the school to clarify.
As there is a 2nd hand market, no one will redeem their CNR from school and recieve the face value at issuance (face value various depending when it was issued). Some people consider it as an investment vechicle.
Mind you, I know a couple of people that even they have CNR , their children were not accepted and vice versa.
I hope you will have better experience in your Jan visit. I am very very disappointed today.
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