London and Singapore share an axis of global finance: both are leading international financial centres, both attract the same multinationals, and professionals move regularly between the two cities. The practical differences — in taxation, work authorisation, housing costs and family logistics — are significant enough to deserve careful attention before you commit to the move. This London to Singapore relocation guide covers every step a finance professional needs in 2026, from securing your Employment Pass in the Financial Services sector through to schools, housing, and the tax reset that makes Singapore financially compelling for many senior earners.
Why Finance Professionals Move from London to Singapore in 2026
Several pull factors converge in 2026. Singapore levies no capital gains tax, no wealth tax and no inheritance tax. For professionals with substantial equity compensation, carried interest or investment portfolios, this is a decisive advantage over the UK’s Capital Gains Tax regime (main rate: 24% on most assets as of April 2026, with an annual exempt amount of just £3,000). The UK top personal income tax rate of 45% applies to income over £125,140; when National Insurance contributions are included, high earners in London face effective marginal rates well above 50%.
Singapore’s personal income tax is progressive, capped at 24% on chargeable income above S$1,000,000, with an effective rate of approximately 7–8% on a S$180,000 annual salary. Foreign-source income — dividends from overseas investments, rental income from UK property — is generally not taxable in Singapore unless remitted through a Singapore partnership. The system is territorial, which means the tax reset for mobile finance professionals can be substantial.
Regionally, Singapore has consolidated its position as the Asia ex-China headquarters for major banks, private equity firms, hedge funds and family offices. If your career trajectory points to Asia, Singapore is the natural base.
The Singapore Employment Pass for Finance Professionals
The Singapore Employment Pass (EP) is the standard work authorisation for professionals earning above the qualifying salary floor. For the Financial Services sector, the qualifying salary is S$6,200 per month as at 1 January 2026, rising to S$6,600 per month from 1 January 2027, as confirmed by the Ministry of Manpower. The EP is employer-sponsored: your Singapore employer applies through MOM’s EP Online portal on your behalf.
All new applications and renewals from 1 July 2026 are assessed under the COMPASS framework, a points-based system requiring at least 40 points across five criteria: salary versus sector benchmark (C1), qualifications (C2), firm-level nationality diversity (C3), firm-level local PMET hiring (C4), and a skills shortage bonus where applicable (C5). Finance roles at major institutions typically score well on C3 and C4 given diversified PMET teams and active local hiring.
Candidates earning a fixed monthly salary of S$22,500 or above are exempt from COMPASS scoring entirely. This covers many senior private bankers, fund managers, chief investment officers and senior treasury heads relocating from London.
Financial Services EP Salary Thresholds by Age (as at January 2026)
| Age at application | Minimum monthly salary (Financial Services) |
|---|---|
| Under 25 | S$6,200 |
| 25–29 | S$6,700 |
| 30–34 | S$7,600 |
| 35–39 | S$8,700 |
| 40–44 | S$10,100 |
| 45 and above | Up to S$11,800 |
Source: MOM EP Self-Assessment Tool, July 2026 benchmarks. Use the MOM SAT for your precise assessment.
If you qualify for the ONE Pass (Overseas Networks & Expertise Pass) — which requires a fixed monthly salary of at least S$30,000 sustained for 12 consecutive months — you gain five-year validity, the right to work for multiple employers simultaneously, and the right for your spouse to work in Singapore without a separate EP. ONE Pass holders are exempt from COMPASS entirely.
Processing time for a complete EP application is typically three weeks for an In-Principle Approval, plus one to two weeks for the physical pass card. Most London hires plan six to eight weeks from signed offer letter to a working pass in hand.
UK vs Singapore Tax: The Finance Professional’s Comparison
The tax differential is the most discussed reason for the London to Singapore move. Here is a side-by-side summary for 2026.
| Item | United Kingdom (2026/27) | Singapore (YA 2026) |
|---|---|---|
| Top personal income tax rate | 45% (income over £125,140) | 24% (income over S$1,000,000) |
| National Insurance / social levies | Employee NI up to 8% (employee contribution, on earnings above £50,270 the rate drops to 2%) | No equivalent for EP holders; CPF applies only to citizens and PRs |
| Capital gains tax | 18–24% on most assets; 24% on residential property | None |
| Dividend tax | 8.75–39.35% on dividends above £500 allowance | None (one-tier tax system; dividends paid from taxed corporate income are tax-exempt at shareholder level) |
| Inheritance / estate tax | 40% above £325,000 nil-rate band | None |
| Territorial scope | Worldwide income for UK-resident individuals | Territorial; foreign-source income generally not taxable when remitted to Singapore |
Per IRAS, an individual who works in Singapore for 183 days or more in a calendar year is taxed as a resident at progressive rates. On an annual income of S$240,000, the Singapore resident income tax is approximately S$39,000 (effective rate ~16%). The equivalent tax burden in London on a comparable gross income — factoring in the 45% top-rate band, income clawback above £100,000 and employer NI — is materially higher.
Pre-Arrival Steps: Your London to Singapore Timeline
A smooth London to Singapore relocation in 2026 typically follows this sequence:
Weeks 1–2: Offer letter signed; EP application submitted. Your employer applies via EP Online. You supply educational certificates, a copy of your passport, and the signed employment contract. If you are bringing family, your employer simultaneously applies for a Dependant’s Pass for your spouse and children.
Weeks 3–5: In-Principle Approval (IPA) received. The IPA allows you to enter Singapore and activate the pass. Open a Singapore bank account using the IPA letter — DBS, OCBC, UOB and HSBC accept it before the physical pass card is issued, with account opening taking three to seven business days.
UK tax affairs: notify HMRC. Submit form P85 (“Leaving the UK — Getting Your Tax Right”) to HMRC. If you are departing mid-tax year, you may be entitled to a partial-year refund of overpaid income tax. Consult a cross-border tax adviser on your departure date, particularly if you have capital assets to realise or unvested RSUs to manage.
Weeks 4–8: Housing and schools. Begin school applications immediately — popular international schools have 12–18 month waiting lists for certain year groups. For housing, common expat neighbourhoods in Singapore include Orchard/River Valley (Districts 9/10), Holland Village (District 10) and East Coast (Districts 15/16). A three-bedroom condominium in the city fringe runs approximately S$7,000–S$9,000 per month in 2026. For more detail, see our Singapore renting by neighbourhood guide.
Schools and Family Logistics
Finance professionals relocating from London with families tend to prioritise school placement above almost everything else. Singapore offers a strong choice of international schools, including Tanglin Trust School (British curriculum), Dulwich College Singapore (British/IB), and Stamford American International School (US/IB). Fees for mid-tier international schools run S$2,000–S$4,500 per child per month. For a detailed breakdown, see our Singapore schools for expats 2026 guide.
Many finance families also hire a Foreign Domestic Worker (FDW) for childcare and household management. The total cost — salary (S$650–900/month), levy (S$300/month standard tier), insurance, agency fees and mandatory orientation programme — runs approximately S$1,300–S$1,800/month. Unlike the UK, EP holders in Singapore are not eligible for MediShield Life (the national health insurance scheme). Confirm that your employer provides comprehensive private hospital cover; if not, purchase an expatriate plan independently.
Once settled, see the full picture of living costs in our Singapore cost of living for expats 2026 guide and the comprehensive Singapore family relocation guide.
Planning for Singapore PR
Many finance professionals who relocate from London apply for Singapore Permanent Residence within two to four years. The ICA’s holistic assessment weighs economic contribution, CPF contribution history (for PRs; EP holders build this only after obtaining PR), length of residency, family ties, qualifications and demonstrated commitment to Singapore. There is no minimum salary floor for PR eligibility, but a sustained high-earning record in the financial services sector is a strong supporting factor. The full breakdown of each scheme and ICA’s assessment criteria is in our Singapore PR Pathway Guide 2026.
For incorporation, accounting services or corporate secretarial support once you arrive, Raffles Corporate Services provides the full suite of post-relocation corporate services for professionals and companies setting up in Singapore.
Little Big Employment Agency (LBEA) is a MOM-licensed employment agency (Licence No. 19C9790) specialising in Employment Pass, ONE Pass and Dependant’s Pass applications for professionals relocating from the UK, Europe and worldwide. Contact us at Singapore Employment Agency to start your London to Singapore employment pass application.
— The Editorial Team, Little Big Employment Agency