Types of Membership & Exemptions
The SBF has of three types of membership: Statutory Members, Constituent Members and Associate Members. The various prerequisites and fees are highlighted below.
For your convenience, a number of payment options have been made available.
Local and foreign Statutory Members of SBF consist of local or foreign companies with a paid up/authorised share capital of S$0.5 million and above. Statutory Members are entitled to vote at SBF’s Annual General Meetings.
The annual subscription fees for Statutory Members are as follows:
|Paid-up capital / Authorised Share Capital||Annual Fees*|
|S$10m & above||S$856|
|S$5m - less than S$10m||S$642|
|S$1m - less than S$5m||S$428|
|S$0.5m - less than S$1m||S$321|
Local or foreign Constituent Members of SBF are organisations representing the interests and welfare of any business groups or communities and are entitled to vote at SBF’s General Meetings.
Currently, SBF has 12 Constituent Members.
The annual subscription fee is S$2,140*inclusive of 7% GST.
A local Associate Member of SBF is any organisation in Singapore - including societies, sole proprietorships, partnerships, associations, statutory bodies, government agencies and unincorporated bodies - which elect to be admitted, or are appointed, as local Associate Members of SBF.
A foreign Associate Member of SBF is any overseas business or economic organisation which is neither a foreign Statutory Member nor a foreign Constituent Member, which elects to be admitted, or is appointed as a foreign Associate Member of SBF.
Local and foreign Associate members are not entitled to vote at SBF’s General Meetings.
SBF welcomes all business organisations to join SBF as Associate Members. The annual subscription fees for Associate Members are as follows:
|Category of Associate Members||Entrance Fee*||Annual Fees*|
|a. Local companies whose paid up share capital is less than S$0.5m||S$321||S$321|
|b. Foreign companies registered in Singapore and whose authorised share capital is less than S$0.5m||S$321||S$321|
|c. Associations / Chambers / Societies registered in Singapore||S$321||S$1,070|
|d. Local and / or foreign organisations not falling under (a) or (b) or (c) above **||S$321||S$535|
**Includes Business Firm (sole-proprietorship or a partnership), Limited Liability Partnership (LLP), etc.
1. Entrance fee and membership fees paid are not refundable on termination of membership.
2. A company that becomes a new member during any part of an Official Year shall pay annual subscription fees. An invoice will be sent to the company on the anniversary date of joining for the annual membership fee.
3. Membership continues on an annual basis till SBF receives at least one month’s written notice of termination from the company and is payable up to the date of receipt of the termination notice.
To become an associate member, kindly register online or download an application form.
On the recommendation of the SBF Council and endorsement of the Board of Trustees, the Ministry of Trade and Industry enacted the SBF (Exemption) Order. Any local company or foreign company which satisfies the Council that it did not or does not have any employee shall be exempted for a specific period.
A company is eligible for an exemption if it fulfils the following criteria:
- If the company did not have any employees from 1 January to 31 December 2015, it qualifies for exemption and may apply for SBF membership exemption for 2016. Please follow the instructions stated on Form E and mail the exemption application form and supporting documents to SBF by 31 October 2015
- If the exemption form is not received by the 31 October 2015 deadline, or if the company does not qualify for exemption, an invoice will be generated for the subscription fees payable
- Upon receipt of the exemption application by 31 October 2015, the company need not pay for the 2016 subscription fee if the exemption is approved
- Incomplete exemption applications will result in delayed processing of the application
- Once the exemption application has been processed, a copy of the approval/rejection will be mailed back to the company for reference
Exempted companies will not enjoy any SBF membership benefits during the year of exemption. A company which qualifies for membership exemption will need to apply for exemption annually by the stipulated deadline, failing which the annual subscription fee will apply.
The Exemption Order has been revised in July 2013 to provide Continuous Exemptions for companies which have applied for three consecutive years of annual exemptions (including 2013). Should there be any change to the company’s status with regard to staffing; the company will need to inform SBF as their Continuous Exemption status will lapse.
Exemption Forms for 2014Form E - Exemption Application
Form E2 - Statutory Declaration
Exemption Forms for 2015
Exemption Forms for 2016
Exemption Forms for 2017
Authorised Representative is a person who represents and votes on its company’s behalf in all matters relating to SBF. For any change in Authorised Representative, please e-mail us the Authorised Representative Form.