Every year, a significant cohort of finance professionals makes the London to Singapore relocation — drawn by the Financial Services sector’s strong growth trajectory, Singapore’s position as the leading asset management and private banking hub in Southeast Asia, and a tax structure that is materially lighter than the United Kingdom’s. For those who make the move well-prepared, it is one of the most rewarding career transitions available. For those who arrive without understanding the Employment Pass framework, COMPASS, or the UK-Singapore tax interaction, it can be a frustrating and expensive experience.
This guide covers the London to Singapore relocation finance professional pathway in full: the Employment Pass for the Financial Services sector, COMPASS scoring, the PEP and ONE Pass for senior earners, family arrangements, UK-Singapore tax transition, housing, and the PR pathway for those planning to stay long-term.
The Employment Pass for Finance Professionals Relocating from London
Most finance professionals relocating from London to Singapore will enter on an Employment Pass (EP) sponsored by their Singapore employer. As at 1 July 2026, per the Ministry of Manpower, the qualifying salary for a new EP application in the Financial Services sector is SGD 6,200 per month — higher than the SGD 5,600 floor for most other sectors. Age-progressive floors apply: a 40-year-old applicant in Financial Services needs at least SGD 8,400 per month, and a 45-year-old at least SGD 11,800 per month.
In addition to the salary floor, all new EP applicants must pass the COMPASS framework, requiring at least 40 out of 80 points. For London-based finance professionals, the C2 qualifications criterion is typically favourable — UK universities such as LSE, UCL, Imperial College, Oxford, and Cambridge, and European equivalents, are generally well-regarded. The C1 salary criterion depends on how the candidate’s salary compares to the 65th percentile of local PMET salaries in the Financial Services sector benchmark.
For a complete walkthrough of the EP application, including COMPASS optimisation, see the Singapore Employment Pass Guide 2026. EP applications in Financial Services are typically decided within three to four weeks.
PEP and ONE Pass for Senior Finance Professionals
Senior finance professionals — private equity partners, fund managers, investment directors, or C-suite executives — may qualify for passes that offer more flexibility than the standard EP.
The Personalised Employment Pass (PEP) is available to EP holders who have earned at least SGD 22,500 per month in fixed salary. The PEP is not employer-tied — it allows the holder to change employers and take employment breaks of up to six months without reapplying, valid for three years (non-renewable). It is particularly well-suited to individuals who expect to move between firms or explore multiple roles during a Singapore posting.
The ONE Pass (Overseas Networks and Expertise Pass) is available to individuals earning at least SGD 30,000 per month in fixed salary (or who have earned that in the past 12 months). It is granted for five years, allows simultaneous work for multiple entities and directorship roles, and is exempt from COMPASS. For portfolio managers, senior bankers, and institutional investors relocating from London to Singapore, the ONE Pass is often the most powerful and flexible option.
UK to Singapore Tax Transition: What Finance Professionals Must Understand
The UK operates a progressive income tax system with a top marginal rate of 45% on income above GBP 125,140, plus 2% National Insurance on earnings above the upper earnings limit. Per IRAS, Singapore’s top marginal rate is 24% on chargeable income above SGD 1 million, with effective rates typically in the range of 13–20% for earners in the SGD 150,000–500,000 annual income band.
For most senior finance professionals, the after-tax differential between London and Singapore is between 10 and 20 percentage points on a significant portion of their remuneration — a material financial advantage.
Key tax transition considerations include:
- UK residency and domicile: Ceasing to be a UK tax resident requires a formal break in UK ties — days spent in the UK, accommodation, employment, family ties. The UK Statutory Residence Test (SRT) governs this. Most professionals who relocate full-time to Singapore will cease to be UK tax resident after a full tax year of non-residency, subject to the SRT rules.
- Singapore tax residency: Established by spending at least 183 days in Singapore in the calendar year. Once tax resident, Singapore income tax applies on Singapore-sourced income at Singapore rates.
- Singapore-UK Double Taxation Agreement: Prevents the same income from being taxed twice, but does not eliminate all obligations. Advice from a cross-border tax adviser is strongly recommended in the first year of relocation.
- Carried interest and equity-based pay: UK carried interest is taxed at 28% in the UK (for most investors). Singapore does not tax capital gains on most assets and has no equivalent carried interest regime, making Singapore-based fund structures attractive for private equity and venture capital professionals.
- UK pension: UK pension contributions and drawdown rules remain subject to UK tax rules even after departure. Seek advice on lifetime allowance interactions and QROPS before making any changes to UK pension arrangements.
Family Arrangements: Dependant’s Pass, Schools and Housing
An EP holder earning at least SGD 6,000 per month may sponsor a Dependant’s Pass (DP) for a legally married spouse and unmarried children under 21. The DP allows family members to reside in Singapore for the duration of the main pass, and spouses of EP holders earning at least SGD 6,000 per month are eligible for a Letter of Consent (LOC) to work for any Singapore employer without a separate work pass.
Singapore has a well-established international school ecosystem — the Global Indian International School, Canadian International School, Tanglin Trust, Dulwich College, and United World College, among others, cater specifically to children relocating from English-speaking countries. Fees range from SGD 25,000 to SGD 45,000 per year. Places at the most popular schools fill quickly; families should begin the school application process six months before the planned move date.
For the full family relocation picture — including healthcare, FDW hire, and neighbourhood guide — see our Singapore family relocation complete guide.
Cost of Living: London vs Singapore for Finance Professionals
London is among the world’s most expensive cities for renting and schooling. Singapore is also expensive by regional standards, but the net financial position for a finance professional earning significantly above the median is typically better in Singapore once the tax differential is accounted for.
A three-bedroom apartment in Singapore’s prime rental districts — Orchard, River Valley, Tanglin, Holland Village, Buona Vista — runs SGD 7,000–12,000 per month. A similar property in London’s equivalent finance-adjacent postcodes (City, Canary Wharf, Marylebone, Kensington) runs GBP 5,000–10,000 per month. At current exchange rates, the absolute figures are comparable — but the Singapore rent is paid out of post-tax income that is significantly higher, net.
A detailed breakdown of Singapore living costs — groceries, transport, dining, utilities — is available in our cost of living for expats in Singapore guide.
The Singapore PR Pathway for London Professionals
Finance professionals who plan to build a long-term career in Singapore typically target Permanent Residence after three to five years of EP holding. The Singapore PR application under the Professionals, Technical Personnel and Skilled Workers (PTS) scheme is assessed holistically by the Immigration and Checkpoints Authority (ICA). Key factors include employment stability, salary trajectory, qualifications, length of Singapore residency, age, family integration, and contributions to Singapore’s economy and community.
For finance professionals with strong qualifications, high and rising salaries, and demonstrated integration, the PR application is generally competitive after three to five years of continuous EP holding. ICA does not publish a points-based scoring system; outcomes are discretionary. For a realistic view of approval rates and the factors that matter most, see the Singapore PR Pathway Guide 2026.
January 2027 Salary Floor Increase: What London-Hired Finance Professionals Must Know
From 1 January 2027, the EP qualifying salary for the Financial Services sector rises to SGD 6,600 per month for new applications, and renewals of passes expiring from 1 January 2028 will also be assessed at the higher floor. Finance professionals entering Singapore under an EP in H2 2026 should confirm their salary sits above the January 2027 threshold if their pass expiry will fall in 2028 or beyond. Full details are in the EP and S Pass salary floor January 2027 employer audit guide.
Conclusion
The London to Singapore relocation finance professional pathway is well-trodden and — for those who plan it properly — highly rewarding. The key steps are: confirm EP eligibility and COMPASS position; understand the UK-Singapore tax transition and engage a cross-border tax adviser for year one; begin school applications early if children are relocating; and build a five-year PR plan from day one.
Little Big Employment Agency (LBEA) is a MOM-licensed employment agency (Licence 19C9790) specialising in Employment Pass, PEP, and ONE Pass applications for financial services professionals relocating to Singapore. For Singapore company incorporation, corporate secretarial, and accounting support, Raffles Corporate Services is your end-to-end partner for the full Singapore setup.
— The Editorial Team, Little Big Employment Agency