English private schools are rushing to open lucrative satellite academies abroad, including in some of the world’s poorest countries, to funnel back millions of pounds in profits to pay for their charitable obligations.
Cambodia, Bangladesh and Vietnam are among the latest targets for English private schools aiming to expand overseas, in many cases in partnership with property developers looking to build luxury developments or even entire cities.
Some private schools say they are motivated to increase their revenues by fears that an incoming Labour government will add VAT to school fees and strip them of charitable status, creating financial difficulties for them.
Research by the Private Education Policy Forum (PEPF) has found that private schools with charitable status are making record-breaking profits from their overseas subsidiaries and satellites, with 40 British schools taking in £29m in 2020-21, compared with £1.6m in 2011-12.
