Q1.	What does mformembership offer that is different from other membership agencies?

Membership consultants at mformembership lead a dynamic and informed approach to membership service:

1.	Independent Position: We are not associated with any clubs and are proud to provide professional advice given our neutral position. We offer one-on-one customized service on every aspect of the membership advisory process and recommend only memberships that are most suitable for you.
2.	One-stop Service: With the support of our group and associated businesses, we provide one-stop service in membership selection, investment and market analysis, membership trading, shell company formation for holding memberships, company transfer of shares, and corporate membership scheme advisory service for multinational corporations.
3.	Easy Transfer Process: At mformembership, you can rest assured that legal contracts, transaction documents, and transaction money collection or payments are professionally taken care of, thus saving your valuable time and money for enjoying more things in life.
4.	Experienced, Multilingual Staff: Our multilingual staff fluent in English, Cantonese and Mandarin with sound knowledge of membership markets will make buying, selling and leasing memberships a breeze for you.

Q2.	How does mformembership locate the suitable buyer / seller for me?

mformembership has an extensive marketing network in major newspapers, magazines and online channels. Our membership consultants maintain close contacts with customers and club officials. With our large customer database, we can quickly locate the best available offers for you.

Q3.	What are the key considerations in choosing a club membership?

Your main objectives of using the club will often affect the way you choose a private or golf club.If you plan to use the club mainly for personal relaxation and family leisure, take location, accessibility, and facilities of the club into consideration. Note that some clubs do charge extra for using some of the facilities, in addition to the monthly fee that you have already paid. If you plan to use the club mainly for business gatherings and guest entertainment, service quality, restaurants and function rooms become important decision factors. In any case, accessibility is always an important consideration.
It is sometimes not easy to tell which club offers the expected level of service quality to you by merely looking at the club brochures or website. Word-of-mouth is always the best reference. Talk to existing members of the club or ask your friends their impression and experience with the club. Arrange visits to the Club. Last but not least, get professional advice. Talk to your membership consultant to get the latest market information.

Q4.	What are the common membership types available in the secondary market?

There are two main membership types - Individual and Corporate. Individual Membership is held in the name of an individual. The user is the owner of the membership (and often his family members as well) and cannot be changed unless it is transferred to another individual. Corporate Membership is often held under the name of a company. The company may be a business entity with normal business activities or, in some cases, a shell company set up merely for holding the membership with no business activities. The user of the membership can be any person nominated by the company and is generally known as the "nominee" of the membership. The company may change the nominee name using the re-nomination process as needed.

Q5.	Are there any differences between new memberships and second-hand memberships in terms of membership rights?

"New" Membership means applying directly to the Club for a new membership while "Second-hand" Membership means acquiring the membership from an existing member of the club. The rights and privileges of "new" and "second-hand" memberships are normally the same, except for some clubs that impose certain usage restrictions on second-hand memberships.

Q6.	I have a membership to sell. How do I find out its transferability?

Before selling your membership, check with the club its transferability. Most clubs charges the member a "Transfer Fee" for the transfer process. Besides, some clubs in Hong Kong require the member to apply for approval before putting the membership into the market for sale.

Q7.	How do I set my target price?

The price of a membership will depend on market demand and supply and latest transaction activities. In some cases, it will be affected by the value of the debenture that comes with the membership. Experienced membership agents will give you the trend of market prices of popular memberships, and be able to explain to you what are included in the prices quoted.

Q8.	How to choose my membership consultant?

Choosing a suitable membership agent is an important step to both buying or selling your club membership. A good membership agent provides you with professional advice in setting the transaction price, identifies the right customers for you, and handles the required documentation for you properly along the transfer process.

Of course, you may use a number of membership agents at the same time. However, sometimes it may not be desirable to appoint too many membership agents simultaneously, as this may give wrong signals to the market in terms of supply and demand, which in turn affects the final transaction price.

Q9.	Is there any market for membership investment?

Memberships can serve as a good investment tool with careful selection. Some popular memberships are in high demand for rentals. Rental returns are calculated as follows:

Rental Return = (Monthly Rent X 12) / Cost of Membership

For example, a membership of HK$85,000 may be rented for HK$1,200 per month, given an annual yield of about 17%. Investment return for memberships in Hong Kong and China normally ranges from 5% to 20%. Your membership consultant will recommend the best choice for you based on your budget and the preferred risk levels.

Some memberships come with a debenture with a face value that is redeemable on a specified date. These redeemable debentures are often sold at significant discounted prices in the secondary market, and giving very attractive yields to the buyer.

Q10.	What are the common transfer procedures? How long does the transfer take?

First, the Purchaser sign Service Agreement and pays the Deposit. Second, Seller also signs Service Agreement with membership consultant and settles all the outstanding balances at the Club and surrenders all the original membership debenture/certificate, membership cards, and issues notification letter to the club. Third, the Club provides original transfer application form, and the membership consultant arrange for documentation with both parties for submission to the Club. Finally, Purchaser pays remaining balance once club approval is given. New membership cards will be issued to the Purchaser by the Club. The transfer process typically takes from 3 to 6 weeks, depending on individual club transfer procedures.

Q11.	If I am currently in overseas, how do you handle the transaction for me?

If you currently reside in overseas countries or are on frequent overseas trips, you may appoint us as your representative or guarantor in Hong Kong. We shall handle the entire transfer process and the documents for you and be fully responsible for the efficient collection or payment of the Deposit and Remaining Balance on your behalf. We shall handle deposit payments and money transfers to your local or overseas bank accounts according to your instructions.

Q12.	How do you calculate your fees?

We charge a service fee rate of 1% of transaction price for all membership transfer transactions. For lease transactions, we charge a service fee equivalent to one-month rental fee. Some exceptions and restrictions apply. Please check with your membership consultant for more details.

Q13.	What is the minimum budget I will need to available to invest in membership?

Membership prices in the secondary market starts at around HK$80,000 for transfers and an average of HK$2000 per month for lease.