Individual (Debenture) Membership

Definition | Married/Family Membership | Single Membership | Entrance Fees | Monthly Charge | Re-nomination Fee | Payment | Requirement for Autopay | Waiting Time | Membership Committee | Transfer | Ordinary Membership

 

The Royal Hong Kong Yacht Club welcomes applicants for Individual Debenture Membership.  For several years these have been released in small batches as approved by the General Committee.  A waiting list is always operated between releases and if you would like to add your name to the waiting list being considered for the next batch, please contact the Membership Office now on 2239 0372 or email membership@rhkyc.org.hk

Definition

Any candidate who is aged over 18 is welcome to apply for Individual Debenture Membership:
(application form)


Married / Family Membership

Only couples who are legally married may apply for a married membership. Family membership includes the candidate's children up to the age of 20.


Single Membership
An unmarried candidate may nominate a partner who is not married and change his/her nomination from time to time to use the Club's facilities subject to:

- registration with the Membership Manager, and
- he or she may be required to attend an interview with the Membership Committee, and
- approval by the Membership Committee, and
- payment of a fee as determined by the General Committee

All rights and privileges of an Individual Debenture Member, his/her spouse, child(ren) and/or nominated partner including the right of the Individual Debenture Member to transfer his/her Individual Debenture Membership shall cease upon an Individual Debenture Member becoming bankrupt.


Entrance Fee
$1,850,000 (last price)


Monthly Charges

Individual Debenture Member (including spouse or nominated partner):

New Members elected during the course of a month is payable from the 1st day of the month in which he is elected/admitted as a Member.

 

Subscription: $1,350
Building Levy: $220
Minimum F&B Charge: $430

 

Individual Debenture Member's Children:

Cadet (aged over 12 but less than 20): $155
Child (aged over 5 but less than 12): Nil

 

A Nominated Partner's children (aged over 9 but less than 20) can only join as Cadet Members sponsored by a Member. There is no entrance fee required but a monthly subscription of HK$155 per child is payable.

Re-Nomination Fee
$25,000


Payment
A successful candidate shall pay the entrance fee prior to attending the New Members' Briefing/cocktail and collecting the membership card and membership certificate.


Requirement for Autopay
The Club requires all new Members to pay their monthly accounts by means of an autopay arrangement with their bank. A direct debit authorisation must accompany an application for membership. The direct debit authorisation will be processed upon an application for membership being approved by the Membership Committee. In the event that an application for membership is withdrawn or not approved by the Membership Committee, the direct debit authorisation will be returned to the candidate.

Waiting Time
Candidates for new Individual Debenture Membership can expect to have their application processed within 2-8 weeks after all requirements have been submitted.


Membership Committee
Upon receipt of an application, the candidate will be invited to attend a Membership Committee Meeting.

The Membership Committee meets monthly to consider applications for membership. Copies of candidates' application forms are circulated to the Committee before the meeting and candidates' details are posted in the Club for the information of the general membership.

After each meeting, the candidates considered at the meeting are informed by post of the Committee's decision. Successful candidates are required to attend one of the next three briefing sessions for new Members held immediately after his/her election to be a Member, to collect his/her membership card and membership certificate and are charged membership subscription from the beginning of the same month. Failure to attend one of the three briefing sessions would result in his/her membership being withdrawn.

The candidate's details will remain posted at the Club for one full month after the Membership Committee meeting which dealt with the application. If at any time it appears that a candidate was admitted under any misrepresentation or that material information was withheld, the Membership Committee may take steps to nullify the membership concerned.

A candidate has no right to apply for temporary membership or use the Club moorings, hard standing or boatyard or car park facilities between the time that he/she has applied for membership and the date of his/her admission as a Member.

A Nominated Partner, who either applies at the same time as the Individual Debenture Member or after the Individual Debenture Member has been admitted as an Individual Debenture Member, may be required to attend a Membership Committee meeting once he/she is registered with the Membership Office.


Transfer
The Club acts as the sole clearing house. Any existing Individual Debenture Member who wishes to sell his/her membership after his/her 3rd membership anniversary may contact the Membership Office by giving his/her offer price and any other transfer terms.

The Club will then publish such offer on the Club's web site for interested parties to respond to.

When bid and offer terms are matched, the interested transferee will be invited to attend a Membership Committee meeting.

Sale and purchase agreements in the approved form must be completed.  (download Buying Agreement | download Selling Agreement)

The transferee approved by the Membership Committee is required to attend one of the next three briefing sessions for new Members held immediately after his/her election to be a Member, to collect his/her membership card and membership certificate and is charged membership subscription from the beginning of the same month. Failure to attend one of the three briefing sessions would result in his/her membership being withdrawn.

The transferor will also be advised of the result of the application and once payment is received from the transferee and after deducting the transfer fee, the transferor's rights as an Individual Debenture Member will cease and the Individual Debenture membership certificate should be returned to the Club.

The transfer fee is equivalent to the then current entrance fee for a married Ordinary Member for Individual Debenture Member admitted before 27 November 2013.  For any Individual Debenture Member admitted as an Individual Debenture Member on/or after 27 November 2013, the transfer fee is 35% of the difference between the selling price and the original price, or HK$500,000, whichever is higher.


Ordinary Membership
An Individual Debenture Member who has been an Individual Debenture Member for more than 3 years, may apply to be elected as an Ordinary Member of the Club at any time. When applying for Ordinary Membership, all the normal application procedures and entry criteria for Ordinary Membership shall apply and the normal Ordinary Membership entrance fee shall be paid. If elected as an Ordinary Member, an Individual Debenture Member shall apply to transfer his Individual Debenture Membership. All the entrance fee, monthly subscription and other payments due as an Ordinary Member shall only become payable and rights and obligations as an Ordinary Member shall only have effect once the Individual Debenture Membership has been transferred.