Singapore has welcomed a steady stream of finance professionals relocating from London for over a decade. The draw is consistent: a lower personal tax burden, a straightforward permanent residency pathway, a world-class international school ecosystem, and a strategic position in the fastest-growing economic region on earth. Yet the professionals who thrive here are overwhelmingly those who planned the move in detail before they landed — not those who arrived and worked it out as they went. This guide to London to Singapore relocation is written specifically for finance professionals, covering Employment Pass eligibility, the UK-to-Singapore tax reset, housing, schools, and the practical realities of life in Singapore in 2026.
The Employment Pass: Your First Step from London to Singapore
Most finance professionals relocating from London to Singapore will enter on an Employment Pass (EP) sponsored by a Singapore employer. The EP is MOM’s primary work pass for professionals, managers and executives, and it is the standard entry route for London-based bankers, fund managers, lawyers, accountants and financial advisers making the move.
Qualifying salary thresholds (as at July 2026)
Per the Ministry of Manpower, the qualifying salary for a new Employment Pass application is SGD 5,600 per month for most sectors and SGD 6,200 per month for the Financial Services sector, as at 1 July 2026, with both thresholds rising progressively with the applicant’s age. From 1 January 2027, the qualifying salary will rise to SGD 6,000 for most sectors and SGD 6,600 for Financial Services.
Finance professionals from London joining Singapore banks, asset managers, insurance groups or licensed financial advisers will need to meet the Financial Services threshold. Most well-compensated professionals in this sector will clear the threshold comfortably; the COMPASS scoring framework that governs EP approval additionally requires at least 40 points across salary, qualifications and employer diversity criteria.
COMPASS and the finance professional profile
The COMPASS framework applies to all new EP applications and renewals from July 2026. Finance professionals from the UK typically score strongly on C1 (salary) and C2 (qualifications), particularly those with CFA, CA, or advanced postgraduate qualifications from ranked institutions. The C4 criterion — which measures local employment support — requires employers to demonstrate that a reasonable proportion of their workforce is comprised of local PMETs. This is where strong employers in Singapore’s banking sector generally score well.
For professionals earning SGD 22,500 per month or more, the COMPASS framework does not apply — MOM issues the pass based on salary alone at that level.
ONE Pass for senior finance professionals
Finance professionals earning SGD 30,000 or more per month fixed salary from a single employer may qualify for the Overseas Networks & Expertise (ONE) Pass, which provides five-year validity, the right to work for multiple employers concurrently, and exemption from COMPASS. The ONE Pass is issued to the individual rather than tied to a specific employer, making it the most flexible option for senior bankers or fund managers considering portfolio roles or advisory work alongside a primary engagement.
London to Singapore: The Tax Reset
The tax difference between the UK and Singapore is substantial and materially improves after-tax income for most finance professionals at mid-to-senior levels. Singapore’s personal income tax is progressive, with rates ranging from 0% on the first SGD 20,000 of chargeable income to 24% on income above SGD 1,000,000, per the Inland Revenue Authority of Singapore (IRAS). The effective tax rate for a Singapore tax-resident earning SGD 200,000 per year is approximately 11–13%.
There is no capital gains tax for individuals in Singapore, no tax on dividends received from Singapore-resident companies, and no inheritance tax. Singapore operates a territorial tax system: residents are taxed on income sourced in Singapore, while foreign-sourced income remitted to Singapore is generally exempt for individuals.
The 183-day residency rule and your first year
In your first year in Singapore, the question of tax residency matters. Singapore taxes individuals as residents if they are in Singapore for 183 or more days in a calendar year. Professionals who arrive mid-year should read our complete guide to the 183-day Singapore tax residency rule before finalising their arrival timing, as the first-year tax position can differ meaningfully from subsequent years depending on the calendar split.
Double Taxation Agreement with the UK
Singapore and the United Kingdom have a comprehensive double taxation agreement (DTA) that prevents the same income from being taxed in both jurisdictions. UK-sourced income (such as rental income from a London property or dividends from UK companies) may still be taxable in the UK even after you become Singapore-resident, depending on the nature of the income and your UK tax position. A tax adviser in both jurisdictions is worth engaging before and in the year of departure from the UK.
Housing in Singapore for London Professionals
Foreign residents — including those on Employment Passes — cannot purchase HDB public housing. The residential market for expatriates is private condominiums and landed houses, both of which require paying the Additional Buyer’s Stamp Duty (ABSD) of 60% for foreigners on any residential purchase. In practice, renting is the standard path for most finance professionals in their first three to five years, with purchasing under consideration only after PR status is secured.
Rental prices in Singapore’s prime residential areas (Orchard Road, Buona Vista, Holland Village, Tanglin) run SGD 6,000–12,000 per month for a three-bedroom apartment, with larger units and landed properties commanding more. Properties near international schools carry a premium. For the full housing and cost-of-living picture, our Singapore expat cost of living guide 2026 covers rent, utilities, transport and all other household costs with 2026 numbers.
Schools, Family and Relocation Logistics
Finance professionals relocating from London with children face a school system that is markedly different from the UK. Singapore’s international school market is strong — UWCSEA, Dulwich, Tanglin Trust and Singapore American School all operate British, IB or American curricula — but the top-tier schools have multi-year waitlists and annual fees of SGD 45,000–62,000 per child. Begin school applications as soon as your move is confirmed, ideally 12–18 months in advance.
Our complete guide to Singapore schools for expats in 2026 covers international school fees, the government school AEIS process, the hybrid pathway, and how to match schooling decisions with your housing choice in Singapore.
Accompanying spouses or partners of EP holders will enter on a Dependant’s Pass, which permits them to work in Singapore without any separate MOM application. The DP spouse receives an automatic Letter of Consent (LOC) to take up employment.
The PR Pathway for London Professionals
Singapore Permanent Residency is a realistic medium-term goal for finance professionals who build a strong Singapore employment history. Most UK professionals who eventually obtain PR do so after two to five years on an EP, having maintained continuous employment, contributed to CPF (which begins from PR grant), settled their families in Singapore, and in some cases participated in community activities.
The Complete Singapore PR Pathway Guide 2026 explains the Professionals, Technical Personnel and Skilled Workers (PTS) scheme — the standard route for finance professionals — along with the ICA’s holistic assessment criteria, the role of salary, tenure and community integration in the outcome, and the timeline from application to In-Principle Approval.
London to Singapore: A Practical Timeline
| Milestone | Timing before / after arrival |
|---|---|
| Secure employment and EP application lodged | 3–4 months before arrival |
| Apply to international schools | 12–18 months before target start date |
| Begin Singapore apartment search | 1–2 months before arrival |
| EP In-Principle Approval (IPA) received | 3–8 weeks after application |
| Arrange UK property (let or sell) | Concurrent with Singapore prep |
| UK tax departure — notify HMRC | Year of departure from UK |
| Singapore 183-day residency clock starts | Day of arrival in Singapore |
| Open Singapore bank accounts | First week after arrival |
| PR application (PTS scheme) | Typically 2–5 years after EP grant |
Make Your London to Singapore Relocation Count
The London-to-Singapore relocation is one of the best-established professional migration routes in the world, and Singapore’s finance and professional services sector continues to grow. Professionals who plan early — securing school places, structuring the UK tax departure correctly, and understanding the EP and COMPASS requirements before the offer letter is signed — arrive in Singapore ready to build, rather than catching up.
Singapore Employment Agency, the licensed agency brand of Little Big Employment Agency Pte Ltd (MOM Licence 19C9790), can support your Employment Pass application, family Dependant’s Pass, and pass renewals across your Singapore career. For business setup and incorporation services when you or your firm is establishing a Singapore entity, our sister practice Raffles Corporate Services provides end-to-end corporate services.
— The Editorial Team, Little Big Employment Agency